Mirror Review
April 24th, 2025
The price of Donald Trump’s cryptocurrency, known as $TRUMP, has seen a significant surge. This came following an announcement that the US president plans to host special events for its top investors. The website for the $Trump meme coin revealed that its 220 biggest holders will receive an invitation to a private gala dinner with the president on May 22nd, calling it the “most EXCLUSIVE INVITATION in the world”. Moreover, this trump meme coin dinner event is scheduled to take place at the Trump National Golf Club in Washington, DC.
In addition to the gala dinner, the top 25 coin holders are also slated for an “ultra-exclusive private VIP reception with the President.”
According to the crypto trading platform Coinbase, the value of $Trump jumped by over 70% after this announcement. Despite this recent increase, the coin’s price remains below its record high of more than $74 (£42.40), which was reached shortly after its launch in January. Currently, the total value of Trump tokens in circulation is estimated to be around $2.5 billion.
Criticisms and Conflict of Interest Concerns
This move has drawn criticism from some in the crypto industry, with some labeling it “a stunt”. Corey Frayer, who previously oversaw crypto policy for the Securities and Exchange Commission during the Biden administration, described the offering as making “the pay-to-play deal explicit”.
Trump’s involvement in the crypto space has raised concerns about potential conflicts of interest. As he promotes digital currencies, he has also appointed regulators who have been scaling back crypto enforcement and has advocated for legislation that could benefit the industry in the United States.
A business entity linked to Mr. Trump holds a substantial amount of the coins, meaning he could personally benefit financially from the increase in price. Furthermore, Mr. Trump and his business partners earn fees when the coins are traded, which amounted to nearly $100 million in the initial weeks after the coin’s launch
Victoria Haneman, a law professor at Creighton University, noted that this situation raises questions about how Mr. Trump and his businesses might “maneuver to profit off the presidency”.
6 Things You Need to Know About the Trump Meme Coin
- What exactly is a meme coin? Basically, meme coins are cryptocurrencies that become popular because of internet trends, jokes, or a connection to a famous person or cultural moment. Their price often goes up and down based on buzz and excitement from the community, rather than just on technology or financial performance. The SEC has even said they won’t regulate them like other investments, which some worry could lead to problems.
- This one is tied directly to Donald Trump. The $TRUMP meme coin is explicitly linked to the president. It’s one of several crypto-related projects that businesses associated with him have launched.
- Why is Trump’s meme coin famous? Well, its fame comes directly from its association with Donald Trump (aka “Crypto President”) and the events surrounding it. The recent surge in price and attention is largely due to the announcement of exclusive events for coin holders, particularly the trump meme coin dinner. This shows how much a celebrity’s involvement and related activities can affect a meme coin’s value.
- When was the $TRUMP coin launched? The $TRUMP coin was first released just days before his inauguration, specifically on January 20th. Trump himself even promoted the coin on his social media platform, Truth Social, shortly after it went on sale.
- There’s a public ranking of owners. The coin’s website features a leaderboard that shows the rankings of the biggest $TRUMP investors. This added a gamified element, encouraging people to buy more coins to improve their rank and potentially qualify for the dinner.
- Meme coins can be quite volatile. It’s important to remember that meme coins are known for their price swings. While $TRUMP’s price went up a lot recently, it has also dropped significantly from its highest point earlier this year, and some traders lost a lot of money.
In conclusion, the recent trump meme coin dinner announcement has certainly brought a lot of attention to the $TRUMP token, causing its price to climb. However, it’s important to understand the nature of meme coins and the potential implications of political figures being involved in such ventures.
