The $TRUMP meme coin has surged nearly 30% in the past day following news that its top 220 buyers will be invited to a gala dinner with President Donald Trump.
Background:
- The $TRUMP meme coin, a cryptocurrency tied to former U.S. President Donald Trump, has surged over 52% in the past week and nearly 30% in the past 24 hours, now trading at $11.97 at the time of writing.
- The rally follows an announcement offering the top 220 buyers of the token an exclusive dinner at Trump National Golf Club in Washington, D.C., on May 22.
- Additionally, the top 25 holders will receive access to a VIP reception and special tour with Trump, according to the promotion published on the coin’s website.
- The event is positioned as “the most EXCLUSIVE INVITATION in the world,” and has reinvigorated interest in the meme coin, which had previously fallen to a low of $7.14 on April 7 after peaking at $74.59 back in January.
- The coin was launched before Trump’s January 20 inauguration and is one of several ventures by the Trump family in the crypto space, including the launch of a decentralized finance (DeFi) platform, World Liberty Financial, and expansion by Trump Media & Technology Group.
Why should you pay attention?
- The $TRUMP coin's rapid price movement reflects a broader trend in celebrity-driven meme coin speculation, blending political identity with crypto incentives.
- Trump’s crypto push comes as his administration actively reduces regulatory pressure on digital assets, drawing scrutiny over potential conflicts of interest as he promotes personal financial ventures.
- The promotional dinner offer highlights how crypto is being leveraged for political engagement and fundraising, raising questions about ethics, governance, and influence.
- With more than $350 million in fees already generated for entities connected to the former president, the $TRUMP token represents one of the largest monetized political coins in the market.
Who said what?
- The $TRUMP coin website promoted the dinner as:
“The most EXCLUSIVE INVITATION in the world.”
- Participants may also receive a limited edition TRUMP NFT if the former president cannot attend.
- Tony Carrk, Executive Director of Accountable.US:
“There has never been a clearer case of a president using their office to put money in their pocket… this is a race to the bottom for presidential grifting.”
- Anna Kelly, White House Deputy Press Secretary, responded to criticism:
“President Trump’s assets are in a trust managed by his children. There are no conflicts of interest.”
- Chainalysis reported:
As of March 12, the coin had generated at least $350 million in fees tied to entities linked to Trump.
Zooming out:
- The Trump family’s growing footprint in crypto, through tokens, DeFi platform, and media, marks a new chapter in the intersection of politics, business, and blockchain.
- While the $TRUMP token has found short-term momentum through exclusive incentives, critics argue that such strategies blur ethical lines between public service and private gain.
- With a token unlock delayed by 90 days, volatility around $TRUMP may persist, especially as political events and regulatory shifts unfold in the coming months.
