Last night, President Trump announced that holders of the Trump meme coin could participate in a 'private dinner with the president' on May 22, causing the token $TRUMP price to soar by 60%. This token, which had previously seen a significant drop from its peak, has sparked a series of chaos and controversy.
Launch of the Trump Token's empowerment.
According to official news, the Trump 'TRUMP DINNER' will be held on May 22 at the Trump National Golf Club in Washington, D.C., inviting the first 220 token holders to participate. The first 25 will also be able to attend a VIP private itinerary and participate in a special VIP tour of the White House the next day.
All participants must register through KYC, and bringing companions is prohibited. Only the token holders themselves can participate. All travel and related registration processes are managed by Fight Fight Fight LLC. It is understood that Trump will attend as a guest that day and will not conduct any fundraising activities.
After the news broke, Trump $TRUMP immediately surged, even reaching a 60% increase at one point. Although it is still far from the initial price, it demonstrates the political influence of the U.S. president.
'Paying to meet' has triggered political controversy.
The opportunity to meet the president is directly tied to tokens issued by the official entity. Does this involve blatant illegal activity or violate political ethics? Some senators have stated that this is 'the most blatant corruption ever committed by a president' and 'an open invitation for investors to bid for closeness to the president.' Trump is using public power to pump up his own token, raising significant concerns in the political sphere regarding the potential conflict of interest between public office power and personal business interests.
Trump Coin has also provoked much public ridicule in terms of public opinion and politics. For example, a netizen suggested on Lai Qingde's Facebook page for the government to purchase Trump Coin, stating that meeting him in person might be a better move. Others believe that the value of Trump Coin is based on Trump's tariff threats, and thus the official announcement of empowerment after the tariff dispute can be said to be very clever.
Trump Coin traders have different experiences.
Although Trump-related entities hold most of the tokens, the empowerment from the dinner event still proves Trump's market influence. It unprecedentedly links the opportunity for national leaders to interact with personal cryptocurrency holdings, but there have also been some strange signs in cryptocurrency trading.
According to Lookonchain monitoring, after the announcement of empowerment for Trump Coin, a whale purchased over 400,000 tokens and then immediately sold them for a significant profit. This whale spent $5 million in a short period and made a profit of $730,000. However, some users cleared out 630,000 tokens just before Trump's announcement, thus missing out on a $4.5 million profit.
Regardless, Trump Coin has caused a phenomenon of income redistribution, where even traders who once supported Trump may suffer losses in the market. This uncertainty surrounding Trump and how it will create market volatility in the future should be closely watched by investors.
