In a move that combined excitement and controversy, U.S. President Donald Trump announced an exclusive dinner for the largest holders of his cryptocurrency TRUMP, leading to a wave of reactions in the crypto world. The announcement, published on the official website of the currency on April 23, 2025, promised the top 220 investors an invitation to a 'lavish dinner' with Trump at his private golf club in Washington on May 22, with additional opportunities for the top 25 holders of the currency including a private tour and VIP reception.
The Sudden Surge in the Value of TRUMP
The currency made headlines with a 70% jump in less than 24 hours after the announcement, rising from $9.3 to $16, before stabilizing at around $13. However, the value is still far from its historical peak of $74 reached in January 2025, which faded by 90% over months. This spike is believed to reflect a calculated strategy to create scarcity and demand by linking currency ownership to a rare opportunity to engage with a prominent political figure.
Cost: Dinner ticket at $395,000!
To join the guest list, an investor needs to own at least 32,085 TRUMP coins, equivalent to about $395,608 at the current price. The market capitalization of the currency reached around $2.7 billion, with 80% of it traded by companies linked to Trump, such as 'CIC Digital' and 'Fight Fight Fight LLC'.
Criticism: Where is the line between marketing and influence?
The initiative faced sharp criticism from governance transparency groups, such as 'Accountable.US', which described it as 'an outrageous attempt to turn the presidency into a profit-making tool'. It also raised concerns about conflicts of interest, especially as the announcement coincided with the administration's easing of regulatory measures on digital currencies, and the appointment of pro-sector officials like Securities and Exchange Commission Chair 'Paul Atkins'.
The Broader Context: Trump and the 'Crypto Dream'
This move is not surprising in light of Trump's shift to becoming a major supporter of digital currencies. He and his wife Melania launched two cryptocurrencies before his inauguration and established an exchange platform called 'World Liberty Financial', announcing plans to create a 'strategic bitcoin reserve'. Analysts believe that using currencies as a political tool could reshape the concept of electoral support, turning supporters into investors and vice versa.
Summary: Between Reality and Hype
Despite the media hype, the TRUMP currency remains an example of the volatility of the 'meme coins' market, which relies more on excitement than actual value. The currency lacks tangible technical or economic uses, but it successfully exploits Trump's political identity as a tradable commodity. Ultimately, #DinnerWithTrumph may just be a new chapter in a series of clever marketing strategies, but it raises profound questions about the future intersection of politics and the digital economy.
