The Trading Expert – Trump
Trump sets up a "Trump Coin Shareholders Closed-Door Dinner"; the top 25 can visit the White House and have the chance to hear insider information, Trump Coin skyrockets.
U.S. President Trump will host a closed-door dinner for "Trump Coin" holders, with the top 25 holders receiving VIP treatment at the White House.
On April 24, reports indicated that the official website of Trump’s meme coin, "Trump Coin," announced on April 23 local time that it will invite the top 220 coin holders to dinner at Trump’s private golf club in Washington D.C. on May 22, claiming attendees will hear "first-hand" information as Trump discusses "the future of cryptocurrency."
The top 25 holders of Trump Coin will receive special treatment: an invitation to a welcome cocktail party before the dinner and a VIP tour of the White House the next day.
Thanks to this news, Trump Coin surged in the past 24 hours.
The official website of "Trump Coin" also stated in the announcement that attendees will be determined based on the average coin holding from April 23 to May 12.
Participants can check their rankings on the leaderboard on the Trump Coin website. As of the afternoon of April 23, 183 people had connected their wallets to the leaderboard. The top holder, "CASE," holds about 400,000 Trump Coins, valued at approximately $5.2 million.
Trump Coin is mired in controversy.
Data shows that Trump Coin has entered the 37th position in cryptocurrency market capitalization rankings. As of April 23, the circulating value of Trump Coin is approximately $2.6 billion.
Since its launch just days before Trump took office, Trump Coin has faced continuous controversy. Its value surged from around $6 to a peak of $75, drawing criticism from cryptocurrency experts who argue that Trump is exploiting the enthusiasm of his supporters for financial gain. Analysts estimate that Trump’s crypto project has made at least $350 million in profit since its issuance in January.
Additionally, according to information from the token's official website GetTrumpMemes.com, about 80% of the tokens are held by CIC Digital, associated with the Trump organization, and Fight Fight Fight LLC, co-owned by CIC, raising concerns about market manipulation due to this highly concentrated holding structure.
In February of this year, the U.S. Securities and Exchange Commission (SEC), the main market regulator, stated that such tokens are more akin to collectibles and are not governed by federal securities laws.