A top Trump supporter acquires $174M in tokens just before a high-stakes dinner with the US President. Could this signal a major political-crypto shift?
President Donald Trump’s list of Memecoin’s top holders was finalized ahead of a background check to apply for dinner on May 22nd and apply for a “VIP tour” with the president.
In a May 12th post, Trump’s Memocoin Project said it would stop considering purchasing additional dinners with the President, adding that Top Token Holders had been informed to apply for a background check if they wish to attend.
According to data provided to the project’s leaderboard, the top 220 wallets hold over 13.7 million tokens as of May 12th, and are worth around $174 million at the time of publication.
On May 22, who would choose to apply and attend a “exclusive reception” that would likely be in the White House for the owners of the Top 25? A May 7 Bloomberg report suggests that the majority of token holders are based outside the US, leading to potential security concerns and conflicts of interest.
Many US lawmakers and figures in the Crypto industry criticized the president for launching Memecoin just days before he took office on January 20th. Following the announcement of the dinner on April 23, calls for oversight of Congress and allegations of corruption have been strengthened.
Related: FT Report proposes prior knowledge of Melania Trump Memo Coin launch
It also appears that businesses are seeking influence over Trump’s policies. In April, freight technology said it would invest $20 million in tokens, suggesting it could affect the presidential trade war between the US and Mexico, where the company is part of its business. As of May 12, the company had not announced whether it was eligible to send representatives for dinner.
https://www.youtube.com/watch?v=vkc5qcrvdc0
Not Trump’s first appeal to crypto users
During the 2024 campaign, Trump held a dinner with supporters who purchased tokens without his “mugshot.” It featured photos of the then presidential candidate for surrender to authorities over accusations that attempted to overturn the 2020 election.
Many of the participants in “Mugshot” publicly shared their identities on social media before and during the event, but no one claimed to apply for the MemeCoin dinner at the time of publication. The wallets with usernames “Sun” and “Elon” led to speculation that Tron founder Justin Sun and Tesla CEO Elon Musk (a Trump supporter who tied to Trump’s presidency) could be among the attendees.
Magazine: Trump’s crypto venture causes conflicts of interest, insider trading questions
