Trump crypto soars as president offers dinner to top holders

The price of Donald Trump's cryptocurrency, $TRUMP, soared over 70% after he promised exclusive events for top investors, according to trading platform Coinbase. However, the coin still trades below its January peak of $74 (£42.40).

The $TRUMP meme coin’s website revealed that its 220 largest holders will be invited to a private gala dinner with Trump on May 22, described as the "most EXCLUSIVE INVITATION in the world." Additionally, the top 25 holders will attend an ultra-private VIP reception at Trump National Golf Club in Washington, D.C.

Launched days before Trump’s inauguration, the tokens now have a market value around $2.5 billion. Critics within the crypto industry have dismissed the move as "a stunt."

Trump, who has branded himself the "crypto president," has embraced digital assets since returning to the White House. He recently signed executive orders to create a Strategic Bitcoin Reserve and a Digital Asset Stockpile, stocked with coins seized by the federal government.

Meanwhile, Trump Media & Technology Group, owner of Truth Social, announced plans to launch exchange-traded funds (ETFs) focusing on digital assets and "Made in America" stocks.

Meme coins like $TRUMP are often used by speculators or fans to support celebrities or internet culture moments.

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