On January 17, 2025, just days before his second inauguration, Donald Trump introduced the #TrumpTariffs $TRUMP meme coin on the Solana blockchain. Promoted as a symbol of "winning" and community engagement, the coin quickly gained traction, with its value surging by over 300% within hours of launch. The initial release included 200 million tokens, while reports suggest that affiliates of Trump control an additional 800 million tokens, potentially valuing his holdings at over $50 billion .
A notable promotion involved offering the top 220 holders of the #TrumpTariffs $TRUMP coin an invitation to a private dinner with President Trump at his Washington, D.C., golf club. Investors spent between #USDT $53,500 and $16.4 million each to secure these invitations, raising concerns about pay-to-play dynamics and potential violations of the Emoluments Clause .
Further scrutiny arose when GD Culture Group, a small Chinese-linked firm with no reported revenue, announced plans to invest up to $XRP 300 million in cryptocurrencies, including the #TrumpTariffs $TRUMP coin. The funds originated from a stock sale to an undisclosed entity in the British Virgin Islands, prompting questions about foreign influence and transparency .
