Trump offers a private dinner to his biggest memecoin buyers
Donald Trump | Image: Laura Normand / The Verge
President Donald Trump recently announced that he would host a private dinner for the top 220 biggest holders of $TRUMP, the meme coin he launched days prior to taking office - and several U.S. Senators would like to know exactly why he's doing this.
The dinner was publicly advertised on the $TRUMP coin homepage this past Wednesday, and included a special VIP package for the top 25 holders: a private reception with Trump, and a VIP tour of the White House the next day. According to the site, the winners will be determined by how much of the coin a contestant owns, as well as how long they hold it between April 23rd and May 12. "The more $TRUMP you hold - and the longer you hold it - the higher Your Ranking will be," it said.
At its peak, a $TRUMP token went for $75.35 on January 19th, the day before his inauguration. It has plummeted ever since, losing 88 percent of its value, and sat at $9.18 before the contest was announced. The promotion caused $TRUMP to jump by more than 50 percent, according to CBS, hitting a peak of $14.32 that afternoon and bringing in an extra $100 million in value.
Democrat Senators were outraged, with Sen. Chris Murphy (D-CT) posting on X that thi …