On Friday, May 23, Trump's official meme coin TRUMP surged to $15.86 earlier in the day before falling back to around $14.35. The rise was closely related to a private dinner held exclusively for TRUMP coin holders.
According to Reuters, the dinner was held at a private club on the banks of the Potomac River outside the U.S. capital on Thursday local time. TRUMP coin holders from all over the world gathered together and the atmosphere was warm.
According to data from crypto analysis company Inca Digital, in order to qualify for the dinner, investors invested a total of about $148 million in TRUMP tokens. The top 25 holders spent more than $111 million, and some top users were invited to a private meeting with Trump himself. In addition, each of the four largest buyers received a limited edition Trump Tourbillon watch worth $100,000.
Blockchain analysis platform Chainalysis pointed out that most of the TRUMP coins are currently held by a company controlled by the Trump family and another entity, which together hold 80% of the total. To date, they have made profits of more than $320 million through transaction fees and other means. After the news of the dinner was announced alone, they added at least $1.35 million in revenue.
According to on-chain information, more than half of the 220 people attending the dinner may be from outside the United States, demonstrating the global appeal of this project.
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The White House responded: The president’s assets have been handed over to the trust for management
In response to outside questions about Trump using his power to profit from the TRUMP coin, White House spokeswoman Carolyn Levitt said that all assets under the president's name have been placed in a confidential trust managed by his children, and emphasized that the dinner was a "private event" and not a non-governmental organization.
She also mentioned: "One of the reasons why people chose him as president again is that he was a very successful businessman before he became the leader of the country."
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Industry insiders: This is a signal that digital assets are moving towards the mainstream
Vincent Liu, chief investment officer of Kronos Research, a Taiwanese crypto market maker, also attended the dinner. He said that this kind of gathering is not common and represents that cryptocurrencies are gradually being accepted by mainstream society.
He hopes to use the event to connect with other core holders and even have a chance to speak with the president himself.
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Democrats take action: intend to promote a bill to restrict the president's participation in encryption projects
Even as Trump headed to the golf course to celebrate, Democrats were trying to impose restrictions on his crypto activities.
Senator Chris Murphy announced that he would push for a vote on an amendment that would prohibit the president and other officials from profiting from stablecoin-related activities. The proposal is part of the (GENIUS Act) and aims to strengthen the regulation of stablecoins.
Murphy revealed the move at a press conference with Representative Sam Liccardo and Senators Richard Blumenthal and Elizabeth Warren to express concerns about the president's use of cryptocurrencies for personal gain.
Liccardo added that many Republican insiders are actually uneasy about Trump's encryption strategy, but their willingness to publicly oppose it is still low.
While there’s little chance the amendment will eventually become law, Murphy believes it could help spark more discussion about whether the president should be involved in the crypto market.
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In general, the Trump Dinner was not only a gathering of the crypto community, but also sparked widespread controversy about the intersection of politics and cryptocurrencies. As crypto assets gradually penetrate into the mainstream vision, related ethical and regulatory issues will continue to become the focus. #以太坊走势 #币安LaunchpoolHUMA