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Yahoo
4 days ago
- Business
- Yahoo
Top Buyers for Trump's Eyebrow-Raising Memecoin Dinner to Be Revealed
Investors who have dumped potentially millions of dollars in Donald Trump's memecoin for a chance to dine with the president will soon discover if they are the lucky winners. A furious bidding process involving holders of the $TRUMP digital currency ends Monday, with the top 220 buyers being invited to a 'gala dinner' with the president at his members' clubs in D.C. on May 22, The New York Times reported. The top 25 investors in the $TRUMP coin will also be invited to an 'exclusive reception' and VIP tour of the White House before the dinner. The promotion has been met with skepticism and scrutiny that Trump is seeking to use his name for profit while in office by encouraging investors and supporters to purchase his memecoin and sharply increase its value. White House press secretary Karoline Leavitt dismissed suggestions there is anything untoward about Trump's dinner promotion or that it amounts to giving the opportunity to buy influence. 'President Trump is compliant with all conflict-of-interest rules, and only acts in the best interests of the American public—which is why they overwhelmingly re-elected him to this office, despite years of lies and false accusations against him and his businesses from the fake news media,' Leavitt told the Daily Beast on Monday. Kain Warwick, a Sydney-based founder of the crypto firm Infinex, is among the coin's top investors and is in line to be among the 220 invited to the dinner with Trump. If Warwick invests around half a million dollars more in $TRUMP, he believes he could break into the top 25 and be rewarded with the chance to speak to the president more closely. 'It's definitely on my mind,' Warwick told the Times. 'Obviously that would be a much better opportunity to have a conversation with Trump.' The president launched $TRUMP on Jan. 17, three days before his return to the White House. The coin's value quickly rose to a peak of nearly $74 but has since plummeted to under $14, according to Trump has repeatedly promoted the cryptocurrency while in office, including posting, 'I LOVE $TRUMP — SO COOL!!! The Greatest of them all!!!!!!!!!!!!!!!!' on Truth Social in March. Analysis of trading records by the Times suggests a spike in purchases of the president's memecoin one day before the dinner promotion was officially announced. This spike occurred after plans to award large token holders of $TRUMP with a private dinner leaked on social media. However, one expert dismissed any suggestion that Trump or those connected to the memecoin will face an official probe under the Trump administration. 'This absolutely would have triggered an initial investigation,' John Reed Stark, the former head of the SEC's Office of Internet Enforcement, told the Times. 'Or at least it certainly would have under norms from prior Republican and Democratic eras.' Sen. Chris Murphy had harsh words about Trump's move into cryptocurrency ahead of his second term in office, telling Reuters the Trump memecoin is the 'single most corrupt act ever committed by a president.' 'Donald Trump is essentially posting his Venmo for any billionaire CEO or foreign oligarch to cash in some favors by secretly sending him millions of dollars,' the Connecticut Democrat added. The Wall Street Journal's editorial board, which is becoming increasingly critical of Trump, also raised concern that many of those hoping to win a dinner with the president are overseas buyers. 'Foreigners are prohibited from contributing to U.S. political campaigns, but there's no bar on them buying stock in a politician's business. That's effectively what foreign buyers of Mr. Trump's tokens are doing,' the board wrote Sunday. 'Might some be trying to buy goodwill with the Trump Administration?' Freight Technologies, a small logistics company, said it was seeking to buy $20 million of $TRUMP in order to secure a chance to speak to the president about free trade between the U.S. and Mexico, CoinDesk reported.
Hindustan Times
17-05-2025
- Entertainment
- Hindustan Times
Elon Musk revives ‘Kekius Maximus' persona on X, sparking 145% surge in Meme Coin value; Check out his new display pic
Elon Musk has again changed display name on his social media platform X to 'Kekius Maximus', days after keeping it as 'Gorklon Rust'. His new profile picture depicts him in armor with the phrase "Emperor Kekius Maximus" emblazoned on it. While Musk provided no explanation for his name change and new profile picture, the Kekius Maximus meme coin's value skyrocketed, causing a stir in the world of cryptocurrency. When the Tesla CEO changed his X moniker, the meme coin's value increased by over 145 percent, as per projections. The rates rose by over 273 percent at approximately 9:15 a.m. Musk has adopted the name Kekius Maximus for the second time. He last changed his name on X in December 2024. He also used a creative rendition of the 'Pepe the Frog' meme in place of his profile photo. It showed Pepe holding a video game joystick while clad as a warrior in full armor. During that time, CoinGecko stated that memecoin KEKIUS saw the surge by 900% shortly after Musk's name change. However, KEKIUS's value plunged to $0.001165 as Musk reinstated his previous name and avatar, highlighting the highly volatile nature of meme-based coins. Also Read: Who is Douglas Altshuler? Man with Crohn's disease sues Elon Musk's SpaceX, here's why 'Kekius Maximus' is derived from the well-known memecoin KEKIUS. It's a term that comes from the words maximus and kek. Kek is a popular figure in online trolling and is said to be from World of Warcraft. The Latin term maximus denotes something noble or supreme. When used together, Kekius Maximus denotes the ultimate meme lord. "Kek" is also the name of the ancient Egyptian deity of darkness, who is occasionally seen with a frog's head. 'Maximus' is often associated with the name of Maximus Decimus Meridius, portrayed by Russell Crowe as the hero in the Gladiator movie. The Kekius Maximus token typically gains value from Musk's X posts, which is why it shot up to an all-time high of $0.3978 in January when the billionaire first changed the name of his X, according to a Bankless Times report. Due to Musk's history of changing his X name multiple times, purchasing the KEKIUS token carries some risk. This means that if this happens, the token price would probably undergo a severe reversal. Musk changed the display name of his X profile to 'Gorklon Rust' earlier this month. He also updated his profile picture. People on social media think the new name was a combination of Rust and Grok. "Rust" probably alludes to the Rust programming language, which is reportedly a component of the firm's technological framework, while "Grok" is the AI chatbot developed by Musk's AI startup xAI. The price of GORK climbed by over 100% in a single day once Musk switched his name to Gorklon Rust. It is currently trading at around ₹5.24, having previously traded at ₹2.62.
Mint
17-05-2025
- Entertainment
- Mint
Elon Musk's return to ‘Kekius Maximus' avatar: What does it mean?
Elon Musk is back as 'Emperor Kekius Maximus' on X. Following the name change on his X account, the price of Kekius Maximus meme coin surged by over 145 percent. The Kekius Maximus's rate was 145 percent higher as of 8:45 am on Saturday (IST), as per projections seen on The rates increased by over 273 percent around 9:15 am. Credit: This happened after Elon Musk changed his name on X, yet again, to old moniker "Kekius Maximus" on Friday, May 17, 2025 — indirectly promoting Ethereum (ETH)-based memecoin KEKIUS. Musk changed his profile picture too. It showed him in an armour, with "Emperor Kekius Maximus" written on the picture. The last time Musk had changed his name on the social media platform was in December last year. He had then revamped his persona, replacing his profile picture with an imaginative version of the 'Pepe the Frog' meme. It featured Pepe dressed as a warrior, complete with armour, wielding a joystick for a video game. Shortly after Musk's name change last December, memecoin KEKIUS rose by over 900%, CoinGecko had then reported, as per the Hindustan Times. However, as Musk returned to his original avatar and name, KEKIUS's value plummeted to $0.001165, underscoring the extremely volatile characteristic of meme-based cryptocurrencies. The name 'Kekius Maximus' originates from a popular memecoin, KEKIUS. It's a term derived from the words Kek and maximus. According to reports, Kek comes from the World of Warcraft and is common in internet trolling. Maximus is a Latin word meaning something grand or ultimate. Combined, Kekius Maximus means the ultimate meme lord. Kekius Maximus is also believed to be a reference to Elon Musk's character in the Path of Exile 2 video game, a reference to the Gladiator movie. It also refers to a pun on the internet-gaming term kek, a variation of lol (laugh out loud) that originated in South Korea and on the World of Warcraft online game. The Kekius Maximus token normally derives its value from X posts by Musk, which explains why it surged to a record high of $0.3978 in January when he initially changed his X name, an article in Bankless Times stated. The risk of buying the KEKIUS token is that Musk is known for changing his X name several times. Thus, the token price is likely to experience a harsh reversal if this occurs.
Mint
17-05-2025
- Entertainment
- Mint
Elon Musk's return to ‘Kekius Maximus' avatar pushes meme coin's price by over 200%: What does it mean?
Elon Musk is back as 'Emperor Kekius Maximus' on X. Following the name change on his X account, the price of Kekius Maximus meme coin surged by over 145 percent. The Kekius Maximus's rate was 145 percent higher as of 8:45 am on Saturday (IST), as per projections seen on The rates increased by over 273 percent around 9:15 am. Credit: This happened after Elon Musk changed his name on X, yet again, to old moniker "Kekius Maximus" on Friday, May 17, 2025 — indirectly promoting Ethereum (ETH)-based memecoin KEKIUS. Musk changed his profile picture too. It showed him in an armour, with "Emperor Kekius Maximus" written on the picture. The last time Musk had changed his name on the social media platform was in December last year. He had then revamped his persona, replacing his profile picture with an imaginative version of the 'Pepe the Frog' meme. It featured Pepe dressed as a warrior, complete with armour, wielding a joystick for a video game. Shortly after Musk's name change last December, memecoin KEKIUS rose by over 900%, CoinGecko had then reported, as per the Hindustan Times. However, as Musk returned to his original avatar and name, KEKIUS's value plummeted to $0.001165, underscoring the extremely volatile characteristic of meme-based cryptocurrencies. The name 'Kekius Maximus' originates from a popular memecoin, KEKIUS. It's a term derived from the words Kek and maximus. According to reports, Kek comes from the World of Warcraft and is common in internet trolling. Maximus is a Latin word meaning something grand or ultimate. Combined, Kekius Maximus means the ultimate meme lord. Kekius Maximus is also believed to be a reference to Elon Musk's character in the Path of Exile 2 video game, a reference to the Gladiator movie. It also refers to a pun on the internet-gaming term kek, a variation of lol (laugh out loud) that originated in South Korea and on the World of Warcraft online game. The Kekius Maximus token normally derives its value from X posts by Musk, which explains why it surged to a record high of $0.3978 in January when he initially changed his X name, an article in Bankless Times stated. The risk of buying the KEKIUS token is that Musk is known for changing his X name several times. Thus, the token price is likely to experience a harsh reversal if this occurs. According to other eports, KEKIUS memecoin has already been listed by top-tier crypto exchanges led by and MEXC, among others. As a result, KEKIUS price is reportedly well positioned to rally exponentially in the coming months, especially amid the rising calls for an altseason.
Yahoo
30-04-2025
- Business
- Yahoo
Spot Ethereum ETFs Bounce: Legit Rally or Will Gas Run Out?
Investors have poured nearly a quarter-billion dollars into spot Ethereum ETFs over the past four days, even as the price is little changed, on hopes the battered cryptocurrency's planned structural changes will spark widespread use and investment. U.S. spot ethereum exchange-traded funds, eight of which were approved for trading last June, a half-year after spot bitcoin ETFs hit the market, pulled in $245 million over the past four days, according to London-based Coinshares. Those funds fell in today's trading. While the price of Ethereum is little-changed over the past few days and down 45% since the year began, it's surged 25% since dipping to a one-year low in early April, according to Investors are betting that the Securities and Exchange Commission will permit so-called staking—the cryptocurrency's validation mechanism that acts as a sort of yield device—in the ETFs. 'The idea that you could get yield from a crypto ETF is certainly a strong institutional narrative and anecdotally has made these kinds of products successful in Europe and elsewhere,' Luke Nolan, senior Ethereum research associate at London-based Coinshares, said in an email. 'It helps drive conversations that we have with investors here in Europe.' Ethereum's developers are also eyeing technological changes—so-called Layer 1 scaling—to counteract the token's reputation for being slow and expensive compared with others, Nolan said. 'It is too early to say whether this has legs or not, but these factors all seem to be playing in Ethereum's favor in the short run and if the overall market holds up well over the next few weeks, could spark a long-awaited ETH rally,' Nolan wrote. Ethereum's declines contrast with No. 1 crypto bitcoin, which is little-changed since the year began and 55% higher year over year. Source: The largest Ethereum ETF, the $2.25 billion iShares Ethereum Trust (ETHA) was down 3.1% at | © Copyright 2025 All rights reserved Sign in to access your portfolio
