Latest news with #Accountable.US
Yahoo
21-05-2025
- Business
- Yahoo
What are Trump's guests getting from $148m crypto dinner?
A procession of black-tie guests is expected to arrive at Trump National Golf Club in Washington, DC on Wednesday – not traditional political donors, but cryptocurrency holders whose anonymous digital wallets filled with memecoins have secured them access to an exclusive gala dinner with the US president himself. The guest list consists of the top 220 holders of the Official Trump memecoin trump-official (TRUMP-OFFICIAL-USD), who collectively spent an estimated $148m (£110.72m) acquiring the token in the hope of securing face time with Donald Trump. The event has stirred controversy over claims of crypto-fuelled political influence, with critics calling it 'pay-to-play 2.0' and watchdogs demanding federal scrutiny. Read more: Crypto live prices But for those attending, the question remains: What are they gaining in return? Trump first announced the exclusive dinner in April, promising an invitation to his private club for the top 220 $TRUMP token holders and a VIP experience for the top 25. The announcement sent the memecoin soaring, with prices jumping over 60% in a single day. Many purchases were executed through crypto exchanges like and Bybit — platforms that block US customers — suggesting that some buyers may be foreign nationals or US citizens using offshore accounts. Despite the secrecy surrounding wallets and identities, all guests are set to receive a commemorative $TRUMP non-fungible token (NFT) minted on Solana and, for the top-tier holders, a private White House tour the following day — access typically reserved for diplomats and heads of state. So what's really on offer for these blockchain-backed guests? Beyond the NFT and a photo op, attendees may be chasing high-level access, and according to Nansen analyst Nicolai Sondergaard, the event is primarily a networking opportunity. "While there may be potential to gain some informational advantages, there are in my opinion, no other clear or substantial benefits beyond that," Sondergaard told Yahoo Finance UK. The dinner may also offer early intelligence on potential regulatory rollbacks and introductions to crypto policy insiders. The holders of the top 25 wallets will attend a VIP reception and a private White House tour. It's an unprecedented offering that blurs the lines between spectacle, tech innovation, and political fundraising. However, this access comes with growing ethical scrutiny. Senators Elizabeth Warren and Adam Schiff have formally called for a federal investigation, labelling the event a 'pay-for-access scheme' that may violate the US Constitution's Emoluments Clause. Watchdog group has echoed these concerns, citing links between the token proceeds and CIC Digital, an affiliate of the Trump Organization. Read more: How Trump and Melania meme coins are performing after 100 days In a statement to the House of Representative's financial services committee, president of president Caroline Ciccone said: "The blurring or erasing of the line between Donald Trump's personal interests and the Executive Branch's agenda risks a true pay-to-play administration." Trying to identify the true identities of the top token holders is no easy task. Blockchains are transparent, but the people behind crypto wallets often are not. Still, on-chain analytics firm Nansen has sifted through the data to offer some clues. The leading wallet on the Trump memecoin leaderboard is labelled "SUN", sparking speculation that it belongs to Chinese-born crypto mogul Justin Sun, founder of the TRON (TRX-USD) blockchain. 'Crypto Twitter is speculating that this is Justin Sun, but we were not able to find any immediate connection to wallets we've already labeled as being owned by him," Sondergaard said. 'It holds a substantial amount of TRX and interacts with HTX-labelled wallets — formerly Huobi — but that's not enough to validate ownership.' The second-largest holder, dubbed 'MeCo', appears to be associated with MemeCore, a Singapore-based layer-1 blockchain team. The wallet was funded by a Binance account 20 days ago and contains $TRUMP and a small amount of Solana (SOL-USD). 'It's not a singular person but rather an organization behind MemeCore. There's been some fun finger-pointing suggesting the wallet could be linked to Justin Sun, but that may just be in jest," Sondergaard added. Read more: Trending tickers: Nvidia, Alibaba, Novavax, Ryanair and Diageo The third wallet, 'CASE", was funded through Wintermute, a leading crypto market maker. Sondergaard believes this could have been an over-the-counter (OTC) transaction, saying: 'It might be someone at Wintermute, but I lean more toward the idea that it was a private sale.' Like others, the wallet only holds $TRUMP and SOL tokens. Two more wallets, 'GAnt' and 'REKT,' round out the top five. Both are newly created, with GAnt funded via a Binance wallet and later transferring assets to Coinbase. REKT received funds from ChangeNOW, a non-KYC exchange, and also made a withdrawal from Binance. Their anonymity underscores a broader concern, that significant funds have entered the US political landscape through untraceable, foreign-friendly channels. While some token holders are about to dine with a former president, most investors haven't been so fortunate. Since the dinner announcement, over 20 million TRUMP tokens – worth roughly $280m – have flowed into wallets, with $109m exiting, according to Nansen. But the trading frenzy hasn't translated into widespread profits. "The data tells a cautionary tale," Sondergaard said. 'Despite over 2,600 traders participating, 70% have realised losses. Total losses since the announcement exceed $21m — dwarfing profits during the same period.' Even media attention has waned. Google (GOOG) Trends shows that searches for the TRUMP token have declined since its initial launch on the weekend before Trump's January 20 inauguration. "Volume is still high and the token is actively traded,' Sondergaard said, 'But much of that may be driven by those racing to make the leaderboard before the dinner deadline." Read more: Why pension funds are buying bitcoin What we know about Elon Musk's controversial blockchain vision for US How AI could change the internet
Yahoo
21-05-2025
- Business
- Yahoo
What are Trump's guests getting from $148m crypto dinner?
A procession of black-tie guests is expected to arrive at Trump National Golf Club in Washington, DC on Wednesday – not traditional political donors, but cryptocurrency holders whose anonymous digital wallets filled with memecoins have secured them access to an exclusive gala dinner with the US president himself. The guest list consists of the top 220 holders of the Official Trump memecoin trump-official (TRUMP-OFFICIAL-USD), who collectively spent an estimated $148m (£110.72m) acquiring the token in the hope of securing face time with Donald Trump. The event has stirred controversy over claims of crypto-fuelled political influence, with critics calling it 'pay-to-play 2.0' and watchdogs demanding federal scrutiny. Read more: Crypto live prices But for those attending, the question remains: What are they gaining in return? Trump first announced the exclusive dinner in April, promising an invitation to his private club for the top 220 $TRUMP token holders and a VIP experience for the top 25. The announcement sent the memecoin soaring, with prices jumping over 60% in a single day. Many purchases were executed through crypto exchanges like and Bybit — platforms that block US customers — suggesting that some buyers may be foreign nationals or US citizens using offshore accounts. Despite the secrecy surrounding wallets and identities, all guests are set to receive a commemorative $TRUMP non-fungible token (NFT) minted on Solana and, for the top-tier holders, a private White House tour the following day — access typically reserved for diplomats and heads of state. So what's really on offer for these blockchain-backed guests? Beyond the NFT and a photo op, attendees may be chasing high-level access, and according to Nansen analyst Nicolai Sondergaard, the event is primarily a networking opportunity. "While there may be potential to gain some informational advantages, there are in my opinion, no other clear or substantial benefits beyond that," Sondergaard told Yahoo Finance UK. The dinner may also offer early intelligence on potential regulatory rollbacks and introductions to crypto policy insiders. The holders of the top 25 wallets will attend a VIP reception and a private White House tour. It's an unprecedented offering that blurs the lines between spectacle, tech innovation, and political fundraising. However, this access comes with growing ethical scrutiny. Senators Elizabeth Warren and Adam Schiff have formally called for a federal investigation, labelling the event a 'pay-for-access scheme' that may violate the US Constitution's Emoluments Clause. Watchdog group has echoed these concerns, citing links between the token proceeds and CIC Digital, an affiliate of the Trump Organization. Read more: How Trump and Melania meme coins are performing after 100 days In a statement to the House of Representative's financial services committee, president of president Caroline Ciccone said: "The blurring or erasing of the line between Donald Trump's personal interests and the Executive Branch's agenda risks a true pay-to-play administration." Trying to identify the true identities of the top token holders is no easy task. Blockchains are transparent, but the people behind crypto wallets often are not. Still, on-chain analytics firm Nansen has sifted through the data to offer some clues. The leading wallet on the Trump memecoin leaderboard is labelled "SUN", sparking speculation that it belongs to Chinese-born crypto mogul Justin Sun, founder of the TRON (TRX-USD) blockchain. 'Crypto Twitter is speculating that this is Justin Sun, but we were not able to find any immediate connection to wallets we've already labeled as being owned by him," Sondergaard said. 'It holds a substantial amount of TRX and interacts with HTX-labelled wallets — formerly Huobi — but that's not enough to validate ownership.' The second-largest holder, dubbed 'MeCo', appears to be associated with MemeCore, a Singapore-based layer-1 blockchain team. The wallet was funded by a Binance account 20 days ago and contains $TRUMP and a small amount of Solana (SOL-USD). 'It's not a singular person but rather an organization behind MemeCore. There's been some fun finger-pointing suggesting the wallet could be linked to Justin Sun, but that may just be in jest," Sondergaard added. Read more: Trending tickers: Nvidia, Alibaba, Novavax, Ryanair and Diageo The third wallet, 'CASE", was funded through Wintermute, a leading crypto market maker. Sondergaard believes this could have been an over-the-counter (OTC) transaction, saying: 'It might be someone at Wintermute, but I lean more toward the idea that it was a private sale.' Like others, the wallet only holds $TRUMP and SOL tokens. Two more wallets, 'GAnt' and 'REKT,' round out the top five. Both are newly created, with GAnt funded via a Binance wallet and later transferring assets to Coinbase. REKT received funds from ChangeNOW, a non-KYC exchange, and also made a withdrawal from Binance. Their anonymity underscores a broader concern, that significant funds have entered the US political landscape through untraceable, foreign-friendly channels. While some token holders are about to dine with a former president, most investors haven't been so fortunate. Since the dinner announcement, over 20 million TRUMP tokens – worth roughly $280m – have flowed into wallets, with $109m exiting, according to Nansen. But the trading frenzy hasn't translated into widespread profits. "The data tells a cautionary tale," Sondergaard said. 'Despite over 2,600 traders participating, 70% have realised losses. Total losses since the announcement exceed $21m — dwarfing profits during the same period.' Even media attention has waned. Google (GOOG) Trends shows that searches for the TRUMP token have declined since its initial launch on the weekend before Trump's January 20 inauguration. "Volume is still high and the token is actively traded,' Sondergaard said, 'But much of that may be driven by those racing to make the leaderboard before the dinner deadline." Read more: Why pension funds are buying bitcoin What we know about Elon Musk's controversial blockchain vision for US How AI could change the internet
NBC News
05-05-2025
- Business
- NBC News
Trump set to raise millions from crypto and meme coin this month
President Donald Trump has two crypto -focused dinners on the calendar this month — one aimed at deep-pocketed political donors, the other at meme coin millionaires. Both are poised to help him rake in millions. The first event, a $1.5 million-per-plate fundraiser set for Monday, is among the priciest political fundraisers in recent memory. The second, on May 22, offers access to Trump's inner circle not for cash — but for holders of the $TRUMP token. Hosted by MAGA Inc., the 'Crypto & AI Innovators Dinner' on May 5 features special guest David Sacks — who has been helping to rewrite the country's crypto and artificial intelligence rules. The committee receiving the funds, MAGA Inc. is a super PAC that supports Trump, but the president is constitutionally barred from running for a third term. It's unclear how the PAC plans to spend the millions of dollars it is raising this spring at a series of dinners. The crypto community has cheered Sacks' growing influence in Washington, crediting him and other Trump-aligned appointees with a sweeping policy shift that's already delivered a spate of regulatory wins across multiple federal agencies — in what many industry executives are describing as a 180 pivot from President Joe Biden. The second gala dinner will be held at Trump National, the president's private club in the Washington, D.C., area, later this month. The guest list will be decided by a blockchain-based contest run by the creators of the $TRUMP meme token. Instead of cash, entry is based on how many tokens a user holds, with the top 220 promised dinner with Trump himself. The contest runs through May 12. The gala, which is black tie optional, offers a 'VIP White House Tour' and special reception to the meme coin's 25-biggest holders. The website hosts an active leaderboard displaying the usernames of the coin's top buyers. a center-left watchdog group that investigates corporate and political influence, described the leaderboard contest as 'the most nakedly corrupt self-enrichment scheme in U.S. presidential history,' warning it opens the door for wealthy donors — including potentially foreign actors — to buy access to the president, while personally enriching the Trump family. Because crypto wallets are pseudonymous, unless a holder has publicly disclosed their wallet address, it is difficult to independently confirm the identities of the top token holders currently leading the contest. In January, for example, crypto entrepreneur Justin Sun upped his token stake in another Trump-related crypto project. The Tron blockchain founder disclosed that he holds $75 million worth of World Liberty Financial's token. A court filing the following month showed that Sun and the Securities and Exchange Commission were exploring a resolution to the regulator's civil fraud case against the crypto entrepreneur. The fine print of the $TRUMP contest does not guarantee access to the president. According to the site's terms and conditions, Trump may not be able to attend and the event can be canceled 'for any reason.' In that case, they'll get a Trump NFT instead. Still, the contest has supercharged demand for the coin — and lined the pockets of its creators. The $TRUMP token surged more than 50% after the gala was announced, boosting the paper value of wallets controlled by insiders and early backers. Roughly 80% of the $TRUMP token supply is controlled by the Trump Organization and affiliates, according to the project's website. Since its launch in January, trading activity has generated more than $324 million in trading fees for insiders, Chainalysis found. These fees are generated through the token's built-in mechanism that routes a percentage of each trade to wallets controlled by the project — wallets that, according to the website, are linked to the coin's creators. at least another 90 days, according to the project's public disclosures.
TimesLIVE
24-04-2025
- Business
- TimesLIVE
Dinner with Trump: meme coin surges on offer to top buyers
US President Donald Trump's meme coin surged more than 60% on Wednesday after a post announcing 'the most EXCLUSIVE INVITATION in the world' promised the top 220 buyers of $TRUMP a private gala dinner with the president on May 22. In addition to the dinner at Trump National Golf Club in Washington DC, the top 25 holders would get 'an ultra-exclusive private VIP reception with the president' as well as a 'Special Tour', according to the announcement. The post on a website promoting the $TRUMP coin is the latest in a flurry of cryptocurrency-related forays undertaken by Trump and his family that have garnered them hundreds of millions of dollars in fees alone. Trump family ventures include a new crypto exchange, World Liberty Financial, as well as a pivot to crypto finance by Trump Media & Technology Group, the social media company in which the president holds a $3bn (R56.09bn) stake. Trump has promised to be America's first 'crypto president' and his administration has moved swiftly to scale back crypto enforcement and ease the industry's regulatory framework. The family's push into crypto at the same time the president is overseeing a new oversight regime has fuelled concerns about potential conflicts of interest and influence peddling. Trump's planned dinner with $TRUMP coin holders is 'a race to the bottom for presidential grifting', said Tony Carrk, executive director of a non-partisan government ethics watchdog group. 'There has never been a clearer case of a president using their office to put money in their pocket or greater potential for special interests to buy an administration's favour that could threaten the public interest,' Carrk said. Anna Kelly, White House deputy press secretary, said: 'President Trump's assets are in a trust managed by his children. There are no conflicts of interest.' The $TRUMP coin, launched before the president's January 20 inauguration, reached $74.59 (R1,394.83) before falling to a low of $7.14 (R133.52) on April 7. Crypto analytics firm Chainalysis found that by March 12 the coin had generated at least $350m (R6.54bn) in fees for entities connected to the president. Last week crypto watchers were expecting the $TRUMP coin to collapse as 40-million new tokens were set to unlock. The coin's account on X said on Wednesday, though, the unlock would be delayed for 90 days. The terms of the $TRUMP dinner offer state 'President Trump may not be able to attend' but winners would receive a limited edition TRUMP NFT 'in lieu thereof'.
Zawya
24-04-2025
- Business
- Zawya
Dinner with the president: Trump meme coin surges on offer to top buyers
NEW YORK: President Donald Trump's meme coin surged more than 60% on Wednesday after a post announcing "the most EXCLUSIVE INVITATION in the world" promised the top 220 buyers of $TRUMP a private gala dinner with the president on May 22. In addition to the dinner at Trump National Golf Club in Washington, D.C., the top 25 holders would get "an ultra-exclusive private VIP reception with the President" as well as a "Special Tour," according to the announcement. The post on a website promoting the $TRUMP coin is the latest in a flurry of cryptocurrency-related forays undertaken by Trump and his family that have garnered them hundreds of millions of dollars in fees alone. Trump family ventures include a new crypto exchange, World Liberty Financial, as well as a pivot to crypto finance by Trump Media & Technology Group, the social media company in which the president holds a $3 billion stake. Trump has promised to be America's first "crypto president," and his administration has moved swiftly to scale back crypto enforcement and ease the industry's regulatory framework. The family's push into crypto at the same time the president is overseeing a new oversight regime has fueled concerns about potential conflicts of interest and influence peddling. Trump's planned dinner with $TRUMP coin holders is "a race to the bottom for presidential grifting," said Tony Carrk, executive director of a nonpartisan government ethics watchdog group. "There has never been a clearer case of a president using their office to put money in their pocket, or greater potential for special interests to buy an administration's favor that could threaten the public interest," Carrk said. Anna Kelly, the White House deputy press secretary, said: "President Trump's assets are in a trust managed by his children. There are no conflicts of interest." The $TRUMP coin, launched before the president's January 20 inauguration, reached as high as $74.59 before falling to a low of $7.14 on April 7. Crypto analytics firm Chainalysis found that as of March 12 the coin had generated at least $350 million in fees for entities connected to the president. As recently as last week, crypto watchers were expecting the $TRUMP coin to collapse as 40 million new tokens were set to unlock. The coin's account on X said on Wednesday, though, that the unlock would be delayed for 90 more days. The terms of the $TRUMP dinner offer state that "President Trump may not be able to attend" but that winners would receive a limited edition TRUMP NFT "in lieu thereof." (Reporting By Michelle Conlin; Editing by Tom Hogue)
