Trump sets up a "Trump Coin Shareholder Closed-Door Banquet," the top 25 can enter the White House for a chance to get insider information, Trump Coin soars

Former President Donald Trump is set to host a closed-door shareholder dinner for holders of "Trump Coin," with the top 25 holders receiving VIP access to the White House.

On April 24, it was reported that the official website of Trump's meme coin "Trump Coin" announced on the 23rd local time that it would invite the top 220 holders to dinner at Trump's private golf club in Washington, D.C. on May 22, claiming that attendees would hear "first-hand" information from Trump about the "future of cryptocurrency."

The top 25 holders of Trump Coin will receive special treatment: an invitation to a welcome cocktail party before the dinner and a VIP tour of the White House the following day.

Thanks to this news, Trump Coin surged 50% in the past 24 hours, reaching a high of $14.71, a new peak since early March, and is currently reported at $12.94 per coin.

The official website of "Trump Coin" also stated in the announcement that attendees will be determined based on the average holding amount from April 23 to May 12, and advised:

Hold as many Trump Coins as possible before May 12. The more Trump Coins you hold and the longer you hold them, the higher your ranking will be.

According to reports, participants can check their rankings on the leaderboard on the Trump Coin website. As of the afternoon of April 23, 183 people had connected their wallets to the leaderboard. The top holder, "CASE," owns approximately 400,000 Trump Coins, valued at around $5.2 million.

Controversies Surrounding Trump Coin

Data shows that Trump Coin has entered the cryptocurrency market cap ranking at 37th place. As of April 23, the circulating value of Trump Coin is approximately $2.6 billion.

Since its launch just days before Trump took office, Trump Coin has been surrounded by controversy. Its value has soared from about $6 to a peak of $75, drawing criticism from cryptocurrency experts who believe Trump is exploiting the enthusiasm of his supporters for financial gain. Analysts estimate that Trump's crypto project has made at least $350 million since its issuance in January.

Additionally, according to information from the token's official website GetTrumpMemes.com, about 80% of the tokens are held by CIC Digital, associated with the Trump Organization, and Fight Fight Fight LLC, co-owned by CIC, raising concerns about market manipulation due to this highly concentrated holding structure.

In February of this year, the U.S. Securities and Exchange Commission (SEC), the main market regulator, stated that such tokens are more akin to collectibles and are not governed by federal securities laws