U.S. President Trump announced last night that holders of the trump meme coin can participate in a "Private Dinner with the President" on 5/22, causing the $TRUMP token price to surge by 60%. This token, which had previously plummeted from its high point, has sparked a series of chaos and controversy.
Trump Token First Issuance Empowerment
According to official information, the Trump "TRUMP DINNER" will be held on May 22nd at the Trump National Golf Club in Washington D.C., inviting the first 220 token holders. The top 25 can also participate in a VIP private itinerary, including a White House special VIP tour the next day.
All participants must complete KYC registration, and no partners are allowed. Only token holders can participate. The entire itinerary and registration process will be managed by Fight Fight Fight LLC. It is understood that Trump will attend as a guest and will not conduct any fundraising activities that day.
After the announcement, the $TRUMP token immediately triggered a surge, even reaching a 60% increase. Although still far from its initial price, it still demonstrated the political influence of the U.S. President.
'Paying for a Meeting' Triggers Political Controversy
Is directly linking the opportunity to meet the president with an officially issued token a blatant violation or against political ethics? Some senators directly stated this is the "most blatant act of corruption the president has ever done" and "openly inviting investors to bid for access to the president". Trump's use of official power to boost his own token has raised potential massive conflicts of interest between public office power and personal commercial interests.
The Trump coin has also sparked ridicule in public opinion and politics. For example, netizens suggested on Lai Ching-te's Facebook that the government should purchase Trump coins, with direct contact being potentially a better approach. Some believe the Trump coin's value is based on Trump's tariff threats, and the official empowerment was announced after the tariff dispute, showing remarkable creativity.
Trump Coin Traders' Contrasting Experiences
Although Trump-related entities hold most of the tokens, the dinner event's empowerment still proved the market influence of President Trump, uniquely linking a head of state's contact opportunity with personal cryptocurrency holdings. However, cryptocurrency trading has also shown some strange phenomena.
According to Lookonchain monitoring, after the Trump coin empowerment announcement, a whale bought over 400,000 tokens and immediately sold them for a significant profit. This whale spent $5 million in a short time and earned $730,000; however, another user liquidated 630,000 tokens just before Trump's announcement, thus missing out on $4.5 million in profits.
Regardless, the Trump coin has caused a redistribution of income. Even traders who previously supported Trump may suffer losses in the market. This Trump uncertainty and how it will create market volatility in the future is something investors should closely watch.
