Donald Trump will host a gala dinner for the top 220 holders of his Solana-based meme coin, TRUMP, at the Trump National Golf Club in Washington, D.C., on May 22.
Donald Trump will host a gala dinner for the top 220 holders of his Solana-based meme coin, TRUMP, at the Trump National Golf Club in Washington, D.C., on May 22. The event was announced on the token’s official website, which encourages participants to “hold as much $TRUMP as you can” from April 23 to May 12 to improve their ranking.
Only holders in the top 220 during that period will receive invitations. The top 15 will be given access to a private reception before the dinner and a VIP White House tour. All attendees must pass a background check, cannot be from countries on Know Your Customer (KYC) watchlists, and are not allowed to bring guests.
The announcement sent the price of the TRUMP token soaring. It jumped nearly 66% in under an hour, according to CoinMarketCap, rising from $9.30 to $14.72. Other sources recorded a similar increase to $14.20, marking the token’s highest value since early March. The TRUMP meme coin was launched on Jan. 17, shortly before Trump returned to office. It briefly hit a $15 billion market cap before dropping by half just three days later.
Since the launch, the project has faced heavy criticism. Some in the crypto space and among lawmakers argue that the token could allow foreign actors and interest groups to funnel money to the U.S. president without proper oversight or disclosure. Critics have also raised concerns over transparency, as the identities of most top TRUMP holders remain unknown. The project team controls 80% of the total supply.
Despite the controversy, Trump has leaned further into crypto since returning to the presidency on Jan. 20. He has appointed agency heads seen as friendly to digital assets and hosted a crypto summit. His wife, Melania Trump, has also launched her own token. The White House has not commented on the meme coin dinner or responded to inquiries.
The official TRUMP website features a live leaderboard showing the current top holders. The project’s criteria reward not only the amount held, but also how long holders maintain their positions. It remains unclear who among the eligible holders will attend the gala, but the event could reveal identities that have so far remained hidden.
The price surge following the dinner announcement has reignited debate about the ethical implications of a sitting president promoting and rewarding holders of a personal cryptocurrency. While the event is positioned as a celebration for supporters, some critics argue it raises questions about influence, access, and financial disclosure at the highest level of government.
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