Trump to host ‘intimate private dinner’ for top memecoin holders – Washington Examiner
former President Donald Trump is set to host a private dinner for the top holders of his meme coin, $TRUMP, at his Washington, D.C. club. This exclusive event will include the top 220 holders, with the top 25 invited to a pre-dinner reception and a tour of the White House. interested participants are encouraged to increase their holdings of the coin between April 23 and May 12 to improve their chances of being invited, as rankings will be based on the average amount held during that period.
The announcement of this dinner follows the recent unlocking of 40 million $TRUMP coins and comes as the coin’s market value has experienced fluctuations, reaching a peak valuation of nearly $15 billion but currently sitting at around $2.63 billion. The coin is primarily viewed as a speculative asset, with Trump-affiliated companies reportedly owning 80% of it, raising concerns about market manipulation if he were to sell a notable portion.
Trump’s administration has taken steps to position the U.S. as a leader in cryptocurrency, including appointing a “crypto czar” and promoting a strategic bitcoin reserve. His efforts align with his vision to establish the U.S. as the “cryptocurrency capital of the world.”
Trump to host top holders of his meme coin for ‘intimate private dinner’
President Donald Trump is organizing a private event for the biggest holders of his meme coin $TRUMP.
He is hosting a dinner at his private club in Washington, D.C., with the top 220 holders of the meme coin. The top 25 holders will be invited to a pre-dinner reception hosted by the president and get a White House tour.
“From April 23 to May 12, hold as much $TRUMP as you can. Your average holdings during this period will determine your ranking,” the website advertising the dinner announces. “The more $TRUMP you hold—and the longer you hold it—the higher Your Ranking will be.”
The dinner announcement comes a week after approximately 40 million Trump meme coins were unlocked to investors. The meme coin debuted just days before Trump was sworn into office, with approximately 200 million coins made available to the public.
At its peak, the Trump coin was valued at nearly $15 billion, but it is currently valued at $2.63 billion, Bloomberg reported, citing tracker CoinMarketCap, which added that since the announcement of the special dinner, the coin’s price rallied nearly 49%.
The meme coin serves purely for speculation on the market. Trump-affiliated companies reportedly own 80% of the meme coin, and Trump and other investors will only profit from the coins by selling them. Since Trump owns a vast majority of the coins, there is a concern that if he did sell, he would “pull the rug” on investors. However, this move appears unlikely as he seeks to build up crypto policy in the U.S.
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In a March executive order, Trump vowed to make the United States “the cryptocurrency capital of the world.” He created the Strategic Bitcoin Reserve to “treat bitcoin as a reserve asset.”
Trump even appointed David Sacks, a billionaire who made his fortune from investing in internet technology firms, to be the nation’s first-ever “crypto czar.” He also appointed several pro-crypto officials to his administration, including Securities and Exchange Commission Chairman Paul Atkins, Commerce Secretary Howard Lutnick, and Treasury Secretary Scott Bessent.
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