Trump to host two crypto-themed dinners in May, sparking controversy over potential conflicts of interest
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Planet Daily News: U.S. President Trump has recently become embroiled in a public opinion controversy related to crypto activities. According to reports, Trump plans to host two crypto-themed events in May: a dinner for the top 25 TRUMP memecoin holders on May 22, and a "Crypto and AI Innovators Dinner" organized by the MAGA Inc. super PAC, with individual seats starting at $1.5 million. This has raised questions from multiple politicians, including Senator Elizabeth Warren, who suggest this might involve "exchanging presidential privilege for commercial investment". On-chain data shows that 80% of TRUMP token supply is controlled by the Trump group, with approximately $325 million transferred to internal wallets through built-in mechanisms since its launch in January. While industry lawyer Olta Andoni believes the token is "no different from other memecoins", Wormhole legal advisor Cathy Yoon points out that this raises "serious ethical concerns". In responding to the questions, Trump emphasized that he has "not profited" and views the crypto industry as a strategic area of competition between China and the United States. The TRUMP token price surged 50% after the dinner announcement, though Trump claimed to have "no concept" of its valuation. (The Block)
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