Trump's Memecoin Gala Sparks Crypto Frenzy and Ethical Debate
President Donald Trump is set to host an exclusive dinner on May 22 at the Trump National Golf Club in Washington, D.C., inviting the top 220 holders of his $TRUMP memecoin. This announcement has led to a significant surge in the coin's value, with prices climbing over 60% to reach $16.17, marking its highest level since early March.
The event, organized by Fight Fight Fight LLC, stipulates that eligibility is determined by average holdings between April 23 and May 12. Attendees must pass a background check and cannot be from countries on Know Your Customer watchlists. The top 25 holders will receive additional perks, including a VIP reception and a special tour with the president. However, the event terms note that Trump may not attend, in which case winners would receive a limited edition Trump NFT instead.
Launched on January 17, 2025, just days before Trump's inauguration, the $TRUMP coin is hosted on the Solana blockchain. Initially, 200 million tokens were released, with plans to expand the total supply to 1 billion over three years. Approximately 80% of the tokens are held by CIC Digital LLC and Fight Fight Fight LLC, entities linked to the Trump Organization. The coin's market capitalization has reached approximately $2.6 billion, ranking it as the 37th-largest cryptocurrency.
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