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Trump Finalizes $TRUMP Crypto Dinner Contest Winners Amid Growing Ethics Concerns

The top 220 holders of President Trump’s $TRUMP coin, including foreign entities, secure seats at a May 22 gala, raising scrutiny over conflicts of interest and foreign influence.

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President Donald Trump eats lunch with his cabinet and the Prime Minister of Italy in April.
FILE PHOTO: Donald Trump, who was then Republican presidential candidate, gestures at the Bitcoin 2024 event in Nashville, Tennessee, U.S., July 27, 2024. REUTERS/Kevin Wurm/File Photo/File Photo
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Overview

  • The $TRUMP coin contest concluded on May 12, with the top 220 time-weighted holders securing invitations to a gala dinner with President Trump on May 22.
  • The top 25 holders, who averaged $4.8 million in holdings, will receive VIP perks, including a private reception and special tour with the president.
  • Blockchain analysis reveals foreign entities, including Justin Sun of Seychelles-based HTX, among the top holders, intensifying concerns about foreign influence.
  • Critics and Democratic lawmakers have called the contest a pay-to-play scheme, with Senator Richard Blumenthal launching an ethics inquiry into Trump’s crypto ventures.
  • Since the coin’s launch, large investors have profited $1.5 billion, while 600,000 smaller investors have collectively lost $3.87 billion, highlighting stark disparities in outcomes.