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Donald Trump's meme coin, $TRUMP, surged after an announcement promising top holders a dinner with the former president. This event, coupled with Trump's crypto ventures and promises to be a "crypto president," raises conflict of interest concerns. Ethics watchdogs criticize the initiative as potential "grifting.

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