With just over 50,000 dollars worth of Trump coins, one can enter Trump's "Top 220 Dinner" to hear first-hand information...
Buyers of the $TRUMP meme coin from USA President Trump are expected to find out on local time Monday (May 12) whether they have won the opportunity to have dinner with the president on May 22 at a presidential country club in the suburbs of Washington, D.C.
Earlier, Trump promoted the event on Social Media as "the most exclusive invitation in the world," promising that the first 220 holders of $TRUMP coins would receive an invitation to a grand dinner, while the top 25 would enjoy an "ultra-exclusive private VIP reception" with the president and a "special VIP tour."
According to GetTrumpMemes.com, winners will be ranked based on their "time-weighted" holdings, calculated from April 23 when the contest was announced until May 12. According to data from crypto intelligence firm Inca Digital, as of last Friday, the "time-weighted" holdings of the top 220 $TRUMP coin holders were worth $0.16 billion.
After Trump announced his inauguration, the coin once soared to $75, then dropped to a low of $7.5.
Currently, the top-ranking wallet is named "SUN," with a time-weighted holding value of nearly $18 million. Blockchain analysis company Arkham stated that the wallet belongs to the Seychelles-based cryptocurrency Exchange HTX, and crypto entrepreneur Justin Sun is a member of HTX's Global Advisory Board.
After Trump won the presidential position, Justin Sun stated that he invested a total of $75 million in Trump's family's new cryptocurrency joint venture World Liberty Financial.
Last Sunday, ranked 220th on the leaderboard was an anonymous wallet named "Jjj," holding approximately $53,000 in $TRUMP coin.
Nevertheless, the terms of the event on the website state that Trump may not attend, and the event "may be canceled for any reason."
In January, the Trump Organization announced that Trump's investments, Assets, and business interests would be held in a trust managed by his children, and he would not participate in day-to-day Operation or decision-making. The Trump family appointed prominent attorney William Burck as an ethics advisor to "avoid any perceived conflicts of interest."
On April 24, the Trump Organization subsequently fired Burck, citing that he represented Harvard University in a funding dispute with the Trump administration. The Trump Organization has yet to appoint a successor.
Earlier, White House Deputy Press Secretary Anna Kelly, in response to reports about Democratic lawmakers criticizing the $TRUMP Coin dinner as a conflict of interest, stated: "President Trump's Assets are held in a trust managed by his children. There is no conflict of interest."
The current Market Cap of $TRUMP Coin is 2.74 billion USD. Companies controlled by the Trump family and another company collectively Hold the remaining 80% of $TRUMP Coin, which used Trump's punching gesture from when he was attacked last July for its promotion.
According to blockchain analysis firm Chainalysis, the entity behind Trump Coin has made a total of 0.32019 billion USD in fees so far, including at least 1.35 million USD since the dinner was announced.
Some government ethics experts say that $TRUMP Coin allows anonymous foreign individuals to gain access to Trump by purchasing it, which has prompted Democratic lawmakers to file numerous complaints with the SEC.
Connecticut Democratic Senator Richard Blumenthal, a senior member of the Senate Permanent Subcommittee on Investigations, has launched an inquiry into whether Trump's cryptocurrency business violates government ethics requirements.
Democratic Senator Chris Murphy from Connecticut and Democratic Senator Jeff Merkley from Oregon have both introduced bills aimed at ending the ability of the president and members of Congress to profit from Cryptos. California Democratic Congressman Sam Liccardo has introduced accompanying legislation in the House of Representatives.
Senator Murphy stated in a statement last Friday: "$TRUMP coin is the most corrupt act committed by the president. Trump is essentially issuing his personal account, allowing any billionaire CEO or foreign oligarch to cash in favors through secret transfers of millions of dollars."
Lawmakers expressed particular concern that while Trump is cutting enforcement of Cryptos and loosening regulations, his family is benefiting financially from the Industry. In April, the U.S. Department of Justice (DOJ) dissolved its Cryptos enforcement division.
Since the launch of $TRUMP coin three days before his inauguration, many large investors are still profiting. According to assessments by Inca Digital and crypto analytics tracker Bubblemaps as of May 8, over 60 major wallets have profited nearly 1.5 billion USD.
Inca Digital found that in the $TRUMP coin holding competition, at least two of the largest investors each profited over 10 million USD, while 15 investors profited over 1 million USD. Meanwhile, approximately 0.6 million Other wallets have lost 3.87 billion USD so far.
$TRUMP coin is part of the Trump family's growing Cryptos business empire, which includes the trading platform World Liberty Financial, a new Cryptos ETF from Trump Media & Technology Group, the cryptocurrency mining operation American Bitcoin, and the stablecoin USD1 pegged to the USD.
Editor/danial
