{"id":20537,"date":"2025-04-23T22:59:10","date_gmt":"2025-04-23T22:59:10","guid":{"rendered":"https:\/\/site.itshrt.com\/worldnews\/trump-offers-a-private-dinner-to-top-220-investors-in-his-memecoin\/"},"modified":"2025-04-23T22:59:10","modified_gmt":"2025-04-23T22:59:10","slug":"trump-offers-a-private-dinner-to-top-220-investors-in-his-memecoin","status":"publish","type":"post","link":"https:\/\/site.itshrt.com\/worldnews\/trump-offers-a-private-dinner-to-top-220-investors-in-his-memecoin\/","title":{"rendered":"Trump Offers a Private Dinner to Top 220 Investors in His Memecoin"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<\/p>\n<div data-testid=\"companionColumn-0\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">The flashy online <a class=\"css-yywogo\" href=\"https:\/\/gettrumpmemes.com\/dinner\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">announcement<\/a> called it \u201cthe most EXCLUSIVE INVITATION in the World,\u201d a chance to have \u201can intimate private dinner\u201d with President Trump at his members-only golf club in Virginia, followed by a tour of the White House.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">A seat would be reserved for each of the top 220 investors in $TRUMP, a cryptocurrency that Mr. Trump launched on the eve of his inauguration.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">In an astonishing escalation of the Trump family\u2019s efforts to profit from crypto, a website promoting $TRUMP, the president\u2019s so-called memecoin, announced on Wednesday that the coin\u2019s largest buyers would be invited to meet him. The effort was, in effect, an offer of access to the White House in exchange for an investment in one of Mr. Trump\u2019s crypto ventures.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">\u201cHave Dinner with President Trump and the $TRUMP Community!\u201d the invitation said. \u201cLet the President know how many $TRUMP coins YOU own!\u201d<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-1\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">For months, Mr. Trump\u2019s forays into crypto have created ethical conflicts with little precedent in presidential history. As he markets digital currencies to the public, Mr. Trump has also appointed regulators who are scaling back crypto enforcement and called for legislation that would boost the industry\u2019s prospects in the United States.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">As news of the dinner invitation spread on social media, the memecoin\u2019s price surged more than 60 percent, suggesting that investors were rushing to accumulate enough coins to qualify for a dinner seat.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">\u201cThis is really incredible,\u201d said Corey Frayer, who oversaw crypto policy for the Securities and Exchange Commission during the Biden administration. \u201cThey are making the pay-to-play deal explicit.\u201d<\/p>\n<p class=\"css-at9mc1 evys1bk0\">A business entity linked to Mr. Trump owns a large tranche of the coins, meaning the president personally profits every time the price increases, at least on paper. Mr. Trump and his business partners also collect fees when the coins are traded, a windfall that amounted to nearly $100 million in the weeks after the coin debuted in January.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Victoria Haneman, a law professor at Creighton University, said the offering raised concerns about the ways Mr. Trump and his businesses \u201cmay maneuver to profit off the presidency.\u201d<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-2\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">Early this year, the S.E.C. issued official guidance saying memecoins, a type of cryptocurrency based on an online joke or celebrity mascot, will not be subject to oversight by the agency. Crypto skeptics criticized the policy as a risky move that could open the door to rampant fraud by memecoin promoters.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">As president, Mr. Trump has broad immunity from laws governing conflicts of interest, a loophole he has <a class=\"css-yywogo\" href=\"https:\/\/www.politico.com\/story\/2016\/11\/trump-the-president-cant-have-a-conflict-of-interest-231760\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">pointed out<\/a> in the past. Representatives for the White House did not immediately respond to requests for comment. Mr. Trump\u2019s son Eric, who helps run the Trump Organization, a sponsor of the $TRUMP coin, declined to comment.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Once a cryptocurrency skeptic, Mr. Trump embraced digital currencies on the campaign trail last year, as crypto companies poured tens of millions of dollars into the 2024 election.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">In the fall, Mr. Trump and his sons, Donald Jr., Eric and Barron, said they were starting a company, World Liberty Financial, that offered a digital currency called WLFI. So far, $550 million of those coins have been sold, <a class=\"css-yywogo\" href=\"https:\/\/www.businesswire.com\/news\/home\/20250317855322\/en\/Trump-Inspired-World-Liberty-Financial-Closes-%24550-Million-Across-Token-Sales\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">according to the company<\/a>.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Not long after, Mr. Trump\u2019s social media firm, Trump Media &amp; Technology Group, moved to <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2025\/04\/22\/business\/trump-media-crypto.html\" title=\"\">offer crypto-related financial products<\/a> to amateur investors and announced a partnership with Crypto.com, a digital trading platform.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-3\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">But Mr. Trump\u2019s memecoin venture has generated the most attention.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Just three days before the inauguration, Mr. Trump posted on Truth Social, his social media site, that he was selling the coin. Sales of $TRUMP immediately spiked, making the president-elect a crypto billionaire on paper.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Memecoins tend to rise and fall quickly, and $TRUMP\u2019s price soon cratered. Traders who had accumulated the coin suffered more than $2 billion in cumulative losses.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">The dinner announcement appeared calculated to ignite more interest in the coins.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">When $TRUMP went on sale in January, a large stash of the coins were allocated to the project\u2019s backers. But rules built into the offering prevented those insiders from selling any of the coins <a class=\"css-yywogo\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-04-16\/trump-memecoin-unlock-raises-risk-of-further-slide-by-once-hot-token?srnd=undefined&amp;sref=zVYYYI5e\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">until last week<\/a>, raising fears that they would try to offload their holdings and cause $TRUMP\u2019s price to drop further.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Instead, the price gradually climbed in the days before the invitation was released and then surged as the announcement went live.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">On the memecoin\u2019s website, the $TRUMP promoters set a up leaderboard of the coin\u2019s biggest investors \u2014 essentially an online game allowing buyers to track their place in the rankings. Dinner invitations would go to the \u201ctop 220 average $TRUMP owners\u201d between April 23 and May 12, the website said. The top 25 buyers would win access to a reception with Mr. Trump before the dinner and a V.I.P. tour of the White House. (At the moment, the 25th-ranked investor on the chart owns about 4,000 coins, worth roughly $54,000.)<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-4\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">\u201cThe more $TRUMP you hold \u2014 and the longer you hold it \u2014 the higher Your Ranking will be,\u201d <a class=\"css-yywogo\" href=\"https:\/\/gettrumpmemes.com\/dinner\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">the website said.<\/a><\/p>\n<p class=\"css-at9mc1 evys1bk0\">The dinner with Mr. Trump is scheduled to take place on May 22 at the Trump National Golf Club, the website said, calling it the \u201cMost Exclusive Once in Lifetime Invitation.\u201d<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.nytimes.com\/2025\/04\/23\/technology\/trump-private-dinner-crypto-memecoin.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The flashy online announcement called it \u201cthe most EXCLUSIVE INVITATION in the World,\u201d a chance to have \u201can intimate private<\/p>\n","protected":false},"author":1,"featured_media":20538,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[123,6198,114,132,219,113,2101,1893,111,176,3348],"class_list":["post-20537","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-computers-and-the-internet","tag-currency","tag-donald-j","tag-presidential-election-of-2024","tag-regulation-and-deregulation-of-industry","tag-trump","tag-trump-media-technology-group","tag-trump-organization","tag-united-states-politics-and-government","tag-virtual-currency","tag-world-liberty-financial"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Trump Offers a Private Dinner to Top 220 Investors in His Memecoin - World News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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