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On Thursday (April 24), the TRUMP meme coin surged 60%, with U.S. President Trump announcing a "Trump Dinner" for TRUMP token holders, limited to the first 220 token holders.
Trump Token First Issuance Empowerment
According to official information, the Trump "TRUMP DINNER" will be held on May 22 at the Trump National Golf Club in Washington, D.C., inviting the first 220 token holders. The top 25 can also participate in a VIP private trip and attend a special White House VIP tour the next day.
All participants must register through KYC, and partners are prohibited. Only token holders can participate. The entire itinerary and registration process will be managed by Fight Fight Fight LLC. It is understood that Trump will attend as a guest and will not conduct any fundraising activities that day.
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After the news broke, the Trump $TRUMP immediately triggered a surge, even reaching a 60% increase at one point. Although still far from the initial price, it still shows the political influence of the U.S. president.
"Paying to Meet" Sparks Political Controversy
Linking the opportunity to meet the president directly to an officially issued token raises questions about potential legal violations and political ethics. Some senators directly stated that this is the "most blatant corruption the president has ever done" and "publicly inviting investors to bid for access to the president". Trump's use of public power to pump his own token has sparked potential massive conflicts of interest between official power and personal business interests.
The Trump coin has also sparked public and political ridicule, with netizens suggesting on Lai Ching-te's Facebook that the government should buy Trump coins, and that directly meeting him might be a better move. Some believe the value of the Trump coin is based on Trump's tariff threats, and the official empowerment was announced after the tariff controversy, showing how clever they are.
Trump Coin Traders' Mixed Fortunes
Although related entities hold most of the tokens, the dinner event's empowerment still proves Trump's market influence, uniquely linking a head of state's contact opportunity with personal cryptocurrency holdings. However, cryptocurrency trading has shown some strange phenomena.
According to Lookonchain monitoring, after the Trump coin empowerment announcement, a whale bought over 400,000 tokens and immediately sold, making a significant profit. This whale spent $5 million in a short time and earned $730,000. However, some users sold 630,000 tokens just before the announcement, missing out on $4.5 million in profits.
Regardless, the Trump coin has caused a redistribution of income. Even supporters of Trump may suffer losses in the market, and this Trump uncertainty and how it will create market volatility in the future is something investors should closely watch.
