President Donald Trump has announced a private dinner for the top 220 holders of his meme coin, $TRUMP, at his Washington-area golf club on May 22. Marketed as “the most exclusive invitation in the world,” the event promises a VIP reception and special tour for the top 25 holders. This announcement has caused a significant surge in the coin’s value, with its price jumping over 50% in just a few days.
The $TRUMP coin, launched shortly before Trump’s inauguration, has been a volatile asset closely tied to his popularity. Initially, the coin saw massive gains, reaching highs of $75 per token, but has since experienced fluctuations. Despite its instability, the coin remains a focal point of Trump’s broader cryptocurrency ventures, which include NFTs, stablecoins, and decentralized finance projects.
Trump’s Shift from Crypto Skepticism to Advocacy
Trump’s embrace of cryptocurrency marks a significant shift from his earlier skepticism. Once calling Bitcoin a “scam,” he has now positioned himself as a proponent of blockchain innovation. His administration has taken steps to deregulate the crypto industry, creating opportunities for ventures like the $TRUMP coin to thrive. This pivot has raised questions about potential conflicts of interest, given his family’s deep involvement in the sector.
The dinner event is part of Trump’s strategy to leverage his influence in the crypto world. By offering exclusive access to top coin holders, he is not only boosting the coin’s market value but also solidifying its status as a cultural phenomenon. Critics, however, argue that this creates a “pay-to-play” system, blurring the lines between private enrichment and public influence.
Beyond the $TRUMP coin, Trump’s crypto ventures include the launch of a stablecoin, USD1, and plans for Bitcoin mining. These projects are managed through World Liberty Financial, a company affiliated with the Trump family. The venture has already raised over $550 million, further highlighting the family’s significant footprint in the digital asset space.
Shogun Lin
