Trump meme coin offers 'private dinner' for top investors, but he might not attend

Summary

Private dinner offer

Trump is offering a dinner to the top 220 investors in his meme coin, with VIP perks for the top 25 holders.

Coin value surge

$TRUMP spiked in value after the announcement, helped by a surprise delay in a token unlock.

Political pushback

Some conservatives have criticized the initiative, raising ethical concerns over influence.

Trump meme coin investors could win a private dinner with the former president. The crypto asset’s value surged after the announcement. — Image credit: NurPhoto/Contributor via Getty Images

Summary

Private dinner offer

Trump is offering a dinner to the top 220 investors in his meme coin, with VIP perks for the top 25 holders.

Coin value surge

$TRUMP spiked in value after the announcement, helped by a surprise delay in a token unlock.

Political pushback

Some conservatives have criticized the initiative, raising ethical concerns over influence.

Full story

A new Trump meme coin promotion is turning heads in the crypto world. President Donald Trump is offering a private dinner for the top 220 investors in his $TRUMP cryptocurrency.

The official website calls it “the most exclusive invitation in the world.” Organizers set the event for May 22 at an undisclosed location and promised additional perks like a VIP tour and reception to the top 25 coin holders.

Earlier Wednesday, April 23, organizers advertised the tour as a “White House Tour,” but they have since removed that description.

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Coin value surged after announcement

The announcement has already had an impact. Crypto.com shows the Trump meme coin surged in value after organizers revealed the dinner.

Trump originally introduced the meme coin just before his January inauguration. The digital asset quickly surpassed a $10 billion market capitalization, making it one of the most talked-about political coins to date.

Supply unlock delayed

Crypto watchers had anticipated a drop in value as 40 million new tokens were expected to unlock this week. The official $TRUMP coin account posted Wednesday that they would delay the unlock by 90 days.

That delay may have helped maintain market momentum.

Trump links coin to broader crypto vision

The dinner offer is part of Trump’s broader involvement in cryptocurrency. At a “crypto summit” in March, he said, “I promised to make America the Bitcoin superpower of the world and the crypto capital of the planet. We’re taking historic action to deliver on that promise.”

CIC Digital LLC and Fight Fight Fight LLC, companies linked to Trump, manage the Trump meme coin. Combined, they control about 80% of the total coin supply.

According to Wired, the day the dinner was announced, the coin’s contributors collected $1.6 million in fees.

Pushback from lawmakers and conservatives

Some Republicans have raised concerns. Sen. Cynthia Lummis, R-Wyo., told Axios at the beginning of April that Trump’s family involvement in cryptocurrency complicates bipartisan efforts to pass new digital asset legislation.

Beyond Capitol Hill, some conservatives have also expressed skepticism. A Reddit user in the r/Conservative subreddit called the Trump meme coin “a Ponzi scheme.”

The White House maintains there are no conflicts of interest. Deputy press secretary Anna Kelly told Fortune, “President Trump’s assets are in a trust managed by his children. There are no conflicts of interest.”

Dinner attendance not guaranteed

According to the event terms, “President Trump may not be able to attend.” If that happens, qualified winners will instead receive a limited-edition Trump NFT.

Harry Fogle (Video Editor) contributed to this report.

Tags: Bitcoin, Cryptocurrency, Donald Trump, Meme coin, White House

[KENNEDY FELTON]

If you were ever wondering how you could score a meeting with a president, turns out the answer might be meme coins.

President Donald Trump is offering a private dinner to the top investors of his cryptocurrency. The official website calls it the most exclusive invitation in the world, with only 220 people gaining access to the event on May 22 at an undisclosed location.

For the top 25 holders, the incentives go even further, including a special VIP tour and private reception with Trump himself. The promotion appears to be working, as the Trump coin surged in value immediately after the announcement.

Trump first launched the memecoin ahead of his inauguration, and the digital token hit a $10 billion market cap before he took office in January.

Fox Business notes that many expected the coin to crash recently, as 40 million new tokens were set to unlock. However, in a move that surprised investors, the official account announced Wednesday that the unlock would be delayed by 90 more days.

This is all part of Trump’s broader push into crypto. Trump has stated, “I promised to make America the Bitcoin superpower of the world and the crypto capital of the planet. We’re taking historic action to deliver on that promise.”

The Trump coin is managed by entities tied to his name—CIC Digital LLC and Fight Fight Fight—which control 80% of the token supply. Contributors reportedly earned $1.6 million in fees the day of the dinner announcement.

But not everyone is buying in. Some Republicans, including Wyoming Senator Cynthia Lummis, have raised concerns about the Trump family’s involvement in crypto. She told Axios that his family’s investments make it harder to gain support for a bipartisan bill on digital assets.

Outside of Washington, some conservatives are skeptical too. One Reddit user in the “Conservative” community called the memecoin “a Ponzi scheme.”

Still, the White House is standing by Trump’s financial arrangements. Deputy Press Secretary Anna Kelly stated, “President Trump’s assets are in a trust managed by his children. There are no conflicts of interest.”

And if Trump doesn’t show up to the dinner, which the offer says could happen, the fine print states winners will receive a limited-edition Trump NFT instead.

Why this story matters

The announcement of a private dinner for $TRUMP token holders by former President Donald Trump signals a significant intersection between politics and cryptocurrency, raising ethical and financial implications.

Political engagement

The dinner event is an innovative approach to engaging supporters through cryptocurrency, potentially reshaping traditional political fundraising methods.

Cryptocurrency volatility

The recent surge in the $TRUMP coin's value highlights the speculative nature of cryptocurrency, particularly meme coins, which can lead to rapid price fluctuations based on events like this.

Ethical concerns

This event has raised significant ethical issues regarding the use of political office for personal financial gain, prompting discussions about conflicts of interest and governance in digital finance.

Get the big picture

Behind the numbers

The $TRUMP token surged by over 70% after the dinner announcement, increasing its value to around $16 at its peak. This event drew attention in the cryptocurrency market, highlighting the speculative nature of tokens associated with political figures, and raising ethical concerns about the intertwining of political access and financial incentives.

Diverging views

Articles from left-leaning sources criticize the dinner event as a blatant conflict of interest and a means to profit off the presidency. In contrast, right-leaning sources view the situation primarily as an innovative marketing strategy that blends politics with cryptocurrency, often downplaying ethical concerns raised by critics.

Policy impact

The recent surge in the $TRUMP token and the associated dinner event signify a potential shift in the regulatory landscape regarding cryptocurrencies and their relationship with political financing. As political figures increasingly intertwine with financial markets, it raises questions about transparency and accountability in political funding practices.