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2w ago

Winners Announced for $TRUMP Coin Contest Offering Presidential Gala Access

Top 220 time-weighted holders of the $TRUMP memecoin secure invitations to an exclusive dinner with President Trump, with ethics concerns and legislative scrutiny intensifying.

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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 top 220 time-weighted $TRUMP holders, determined by investments between April 23 and May 12, will attend a gala dinner with President Trump on May 22, while the top 25 earn additional VIP privileges.
  • The $TRUMP coin, trading at $14 with a $2.74 billion market cap, has generated $320 million in fees for Trump family-linked entities, which control 80% of the coin's supply.
  • Ethics experts and lawmakers have raised concerns over foreign influence, as the top holder, linked to Justin Sun's HTX exchange, invested $18 million in time-weighted holdings.
  • Legislative proposals from Senators Murphy, Merkley, and Representative Liccardo aim to address conflicts of interest and prevent elected officials from profiting off crypto assets.
  • Despite the event's exclusivity, terms allow for cancellation or non-attendance by Trump, while retail investors have suffered $3.87 billion in losses since the coin's launch.