Buyers of the $TRUMP memecoin collectively spent over $140 million to secure an invitation to an exclusive dinner with former U.S. President Donald Trump. The event will take place on May 22, 2025, at Trump National Golf Club near Washington, D.C. The top 220 holders of this memecoin will be invited, while the top 25 will receive an additional VIP reception and private tour with Trump.
How the Contest Worked
On April 23, the team behind $TRUMP announced that the top 220 “time-weighted” holders of the cryptocurrency as of May 12 would be invited to the dinner.
To participate, investors had to acquire and hold a significant amount of coins. The minimum threshold was around 4,196 TRUMP, equivalent to approximately $53,500 at the time, while the largest holder invested as much as $16.4 million.
The leaderboard was determined by both the amount held and the duration of holding during the contest period.
Top Buyers and Sellers
The largest holder, known by the alias “Sun VIP,” held 1.43 million TRUMP coins valued at over $19 million. This wallet is suspected to be linked to Chinese billionaire Justin Sun, though this has not been confirmed.
Many investors used international platforms, suggesting most funds came from outside the United States.
Following the contest, around 35 of the 220 qualified holders sold part or all of their TRUMP coins, likely to avoid a potential price drop.
Market Impact and Controversy
The announcement of the dinner led to a 40% surge in $TRUMP’s price, partially recovering from an 88% drop in previous weeks. After the contest ended, the price fell as some holders sold their positions before stabilizing.
Since its launch, the cryptocurrency has generated over $320 million in trading fees, with more than $1 million coming after the dinner announcement.
Ethical and Political Issues
Critics, including Democratic lawmakers and watchdog organizations, have raised concerns about the event, arguing it directly links financial investment in a Trump-associated asset to access to the former president.
The anonymity of crypto wallets has sparked concerns about potential foreign influence or undisclosed political contributions.
The Trump Organization has stated that Donald Trump is not involved in the daily operations related to his assets, which are managed by his children.
Event Details
The dinner will take place on May 22, 2025, at Trump National Golf Club. The top 25 holders will also receive a VIP reception and private tour with Trump.
“He is granting audiences to individuals who purchase a cryptocurrency that directly enriches him,” commented Democratic Senator Jon Ossoff, highlighting the ethical debate surrounding the event.
In summary, this $TRUMP memecoin initiative has not only injected new volatility into the cryptocurrency market but also reignited debates about transparency, financial influence, and the intersection of politics and digital assets.
