Donald Trump and his affiliates have reportedly pocketed $900,000 in trading fees from the $TRUMP token within just two days, following the announcement of a special dinner contest for top token holders. The high-profile event sparked a trading frenzy, driving $TRUMP’s market cap to $2.7 billion after a 50% price surge.
Managed by political allies, the token activity reflects Trump's transition from real estate into the digital asset arena. However, the meteoric rise of the token and its political ties have raised serious ethical and regulatory concerns. Critics, including Senator Chris Murphy, called it "the most brazenly corrupt thing a President has ever done."
The situation sets a powerful precedent for the crypto space, merging political access with digital assets—and may invite stricter regulations on future crypto projects linked to influential public figures.