Latest news with #TRUMPtoken
Yahoo
24-05-2025
- Business
- Yahoo
Trump ‘Orgy of Corruption' Crypto Dinner With Mystery Guests Who Paid Over $1M a Seat
President Donald Trump was attending a private dinner on Thursday night with the top investors in his meme coin in a move that Democrats and ethics experts have blasted as blatant corruption. More than 200 global investors are expected to participate in the event at his golf club billed as the 'most exclusive invitation in the world.' The average spent by guests to attend was just over $1.7 million a seat, according to a report. The dinner, critics warn, will give top crypto investors unprecedented direct access to the president as they look to influence policy while Trump benefits financially from those buying up his digit asset launched just days before the president took office. Senator Elizabeth Warren branded the event an 'orgy of corruption.' Trump has promoted the event on Truth Social on numerous occasions since the dinner was announced on April 23, boosting the $TRUMP token's value. The 220 winners of the contest to attend were expected to spend $394 million in total on the president's official cryptocurrency, according to analysis by blockchain analytics company Nansen NBC News reported. The total cost to attend ranged from $55,000 to $37.7 million. The analysis found that the top seven winners each spent more than $10 million while the bottom 24 spent less than $100,000. Details about who will attend have been largely shrouded in mystery, but some of the top $TRUMP coin holders have revealed themselves. Chinese-born crypto billionaire Justin Sun wrote in a post on X on Tuesday that he was among the buyers who had secured an invitation to attend. 'Honored to support @POTUS and grateful for the invitation from @GetTrumpMemes to attend President Trump's Gala Dinner as his TOP fan!' he wrote. 'As the top holder of $TRUMP, I'm excited to connect with everyone, talk crypto, and discuss the future of our industry.' A Singapore-based startup MemeCore will also be in attendance. Its X account wrote that as a 'top 2 holder of $TRUMP, I'm looking forward to connecting with you all, discussing crypto, and sharing diverse insights for the future of this industry' in a post on Thursday. The White House has not shared whether it would make a full list of attendees for the cryptocurrencies event public despite requests. Press Secretary Karoline Leavitt defended the president's participation in the event on Thursday. She said he was attending in his personal capacity and argued it was not a White House dinner. 'The president is abiding by all conflict of interest laws that are applicable to the president,' Leavitt insisted from the White House podium. According to the invitation, the top 25 holders of the $TRUMP token will also get to attend a private reception with the president before the dinner and participate in a White House tour on Friday. Democrats and ethics experts on Thursday called for the White House to release the list of attendees and warned that foreigners could be paying for access to Trump to influence U.S. national security. 'It would be bad enough if you could pay as an American citizen to get secret access to the president, but from what we understand, most of the attendees tonight will be foreigners,' said Senator Chris Murphy. 'These could be individuals with ties to terrorist groups. These could be representatives of Vladimir Putin. These could be sanctioned individuals.' Murphy said the dinner on Thursday may be the 'most corrupt of all of the corruption.' Democrats said the dinner should not be happening at all, but argued at the very least the administration should have no problem releasing the names of individuals set to attend to the American public to prove they're above board. 'They were able to pay their way in to an audience with the president of the United States to ask for favorable national security concessions,' Murphy said.
Forbes
23-05-2025
- Business
- Forbes
Forbes Daily: Trump's Controversial Crypto Dinner Draws Protests
We tend to stick to news in this space, but today we wanted to take a moment to talk about our members. Forbes members support our mission to deliver trustworthy and indispensable journalism. With the upcoming holiday, this weekend is a great opportunity to become a Forbes member and unlock unlimited access to the vital stories, insights and strategies we cover in this newsletter and on During our Memorial Day Sale, you can get your first year of access for $49.99. Beyond unlimited digital access, your membership will also include benefits like exclusive events, premium video and more. If you're already a Forbes member, thank you. And we'll be back with the Daily on May 27. Copyright 2025 The Associated Press. All rights reserved. President Donald Trump hosted a dinner for top investors in his meme coin at the Trump National Golf Club outside Washington, D.C., a mostly anonymous group of attendees who have collectively thrown hundreds of millions of dollars at the president's controversial cryptocurrency. The president's $TRUMP token, which traded as high as $74.34 when it launched in January, fell to $14.44 on Thursday, and protestors outside called the dinner 'corruption embodied.' The suspect in the killing of Israeli embassy staffers outside the Capital Jewish Museum in Washington, D.C., was charged with two counts of first-degree murder and other criminal counts Thursday afternoon. While the shooting is believed to be an isolated incident, additional security is being deployed to Jewish sites in places like New York City and Paris. Jamie Dimon, Chairman and CEO of JPMorgan Chase JPMorgan Chase CEO Jamie Dimon warned there's a chance the U.S. economy will experience 'stagflation'—a combination of economic stagnation and increasing inflation—as a result of the restructuring of global trade and 'remilitarization of the world.' The rare phenomenon cannot be countered with typical economic measures because acting against inflation can worsen the economy, while trying to boost growth can exacerbate price increases. Producing social media content takes work, but small businesses are starting to see the payoff. A new study from Verizon shows 81% of small businesses are creating content instead of just buying ads, and while Facebook is still the favorite platform, 58% are using TikTok. John Acunto, Cofounder and CEO of Infinite Reality After declaring bankruptcy in 2002, the once-revolutionary Napster is making a comeback. Infinite Reality, which until recently had been pitching itself as a metaverse shop, acquired Napster in a $207 million deal in March, and now is rebranding itself as Napster, a provider of 'AI-powered digital experiences.' It's the latest chapter in the puzzling saga of Infinite Reality, which Forbes published an investigation about in April. Large healthcare systems often have lots of data and a variety of tools to manage it, but a new software platform called Gravity from digital health startup Innovaccer is designed to be a one-stop shop: almost like a web browser, but for health tools and data instead of the internet. The launch comes after the San Francisco-based company raised $275 million, valuing it at $3.45 billion. A federal judge halted the Trump Administration's efforts to gut the Department of Education, blocking the mass firing of about half of its workforce and ordering the government to rehire staff while the litigation moves forward. The judge ruled that the government does not have the authority to get rid of the department without congressional approval, and noted that the staff reductions have left 'the agency incapable of performing many of its core, statutorily mandated functions.' A Department of Health and Human Services investigation found that Columbia University violated federal civil rights laws by not taking adequate action against harassment of its Jewish students. Columbia has been a key target in the Trump Administration's crack down on pro-Palestinian protests across major U.S. educational institutions, and earlier this year, the administration cut $400 million in grants and contracts to the university. In the latest escalation of its feud with Harvard University, the Trump Administration removed Harvard's ability to enroll foreign students, a move the school called 'unlawful.' The Ivy League university has been at odds with the federal government since it refused to comply with a list of demands, which included making 'meaningful governance' reforms and allowing the school to be monitored by Trump Administration officials. Now that the House has passed the legislative package to enact President Donald Trump's tax and immigration agenda, it faces new hurdles in the Senate. Some Senators have cited concerns about the bill increasing the federal deficit, as it is expected to add $3.8 trillion to the deficit over the next decade, according to an estimate from the Congressional Budget Office. Republicans can afford to lose just three votes. Trae Young, the new assistant general manager for the men's basketball program at his alma mater, the University of Oklahoma. In the four years since the NCAA begrudgingly began to allow its athletes to profit off their name, image and likeness, big-time college sports have quickly become a bidding war for top players. Naturally, not every university has the wherewithal to keep up, and even the ones that do are fighting for a competitive edge. A handful of institutions believe they have found an answer that goes beyond dollars and cents: all-star alumni like Las Vegas Raiders defensive end Maxx Crosby and NBA veterans Stephen Curry, Trae Young and Terance Mann, who have officially rejoined their alma maters as assistant general managers to help recruit new talent. The reinforcements give colleges a new tool to build—and preserve—their rosters in an era complicated by NIL money and also laxer transfer rules, which allow athletes to seek better compensation from rival schools without having to sit out seasons if they switch programs. The payments can be enticing, exceeding $1 million for stars in smaller sports. That's where the personal touch of an alum like Mann comes in. 'As long as the landscape stays this way,' he tells Forbes, 'colleges should find somebody that will help them recruit, raise money and be an ambassador all in one, and I think eventually we're going to see most of them doing it.' WHY IT MATTERS 'As antitrust lawsuits dismantle the NCAA's longstanding commitment to amateurism, big money is finding new outlets into college sports, and every school is trying to figure out the best way to contend in this new world order,' says Forbes Staff Writer Justin Birnbaum. 'Some programs, able to expand their budgets by tens of millions of dollars annually, will look to sway recruits by paying their athletes directly. Others will have to get more creative. Deputizing a pro athlete as a recruiter is one example, but other strategies will likely emerge soon as well.' MORE Sports Sponsorship Is Reaching Record Highs, Led By Shohei Ohtani And MLB The House approved President Donald Trump's sweeping spending bill Wednesday, making last-minute changes to move up the start date for Medicaid work requirements and prohibit Medicaid for gender-affirming care. Millions of people stand to lose Medicaid benefits under the legislation: 72 million: The number of people enrolled in Medicaid as of December Over 7.6 million: Approximately how many people would lose Medicaid benefits over the next decade, according to the nonpartisan Congressional Budget Office, before the revisions made Wednesday From 90% to 80%: The reduction in federal matching funds that states receive under the Affordable Care Act for those that provide health care for undocumented migrants, according to the Kaiser Family Foundation If you're angling for your next promotion, start by being direct with your manager. Ensure the quality of your work stands out, and show true leadership by collaborating with your team. It's also important to track your accomplishments, including metrics, and share them with your manager to prove the business case for your promotion. OpenAI announced it purchased the startup of famous tech designer Jony Ive, who will now curate new devices for the AI giant. Which of the following iconic products did Ive previously help create? A. Sony Walkman B. Microsoft Surface C. iPhone D. BlackBerry Check your answer. Thanks for reading! This edition of Forbes Daily was edited by Sarah Whitmire and Chris Dobstaff.
