#DinnerWithTrump $TRUMP

The meme coin of President Donald Trump plummeted more than 60% on Wednesday after a post announcing "the MOST EXCLUSIVE INVITATION in the world" promised the top 220 buyers of $TRUMP a private gala dinner with the president on May 22.

In addition to the dinner at the Trump National Golf Club in Washington, D.C., the top 25 holders would receive "an ultra-exclusive private VIP reception with the President," as well as a "Special Tour," according to the announcement.

Trump has promised to be the first "crypto president" of the United States, and his administration has quickly moved to ease the enforcement of cryptocurrencies and facilitate the regulatory framework of the industry.

The family's push for cryptocurrencies while the president is overseeing a new oversight regime has fueled concerns about potential conflicts of interest and influence on the seller.

Trump's planned dinner with the holders of $TRUMP is "a race to the bottom for presidential fraud," said Tony Carrk, CEO of Accountable.US, a nonpartisan government ethics watchdog group.

"There has never been a clearer case of a president using his office to line his own pockets, or a greater potential for special interests to buy the favor of an administration that could threaten the public interest,"