VIP investors from Undernames TOP and Ivo sold $ 200,000 (worth almost $ 2.7 million) and 427 568 (worth almost $ 5.7 million), respectively.
For the first time, Trump announced his cryptographic coin on January 17, three days before the inauguration in 2025. He crashed him as Memecoin, a type of coin used almost exclusively for financial speculation. Because memecoins do not generate revenues or any basic business model, their price tends to fluctuate with swings in public sentiments towards a person, my or the concept on which they are based.
On the days after the start of trade, 20 percent of Trump coins exempt in circulation increased to $ 14 billion. On paper, the net value of Trump increased by tens of billions of dollars almost overnight.
The value of the coin dropped by over 80 percent compared to the peak. But when Trump announced dinner on April 23, it caused another commercial frenzy, causing a memecoin price. As a market intermediate, fighting Fight and Cic Digital probably reached hundreds of thousands of dollars commercial fees.
Since the premiere, critics have cast Trump Memecoin as an unethical “catching money”-the Trump’s office is due to self-sufficiency. They also expressed concern that the coin can be used to discrete the wealth to the Trump family. By making a enormous investment and raising the price of coins, foreign powers and other politically motivated actors could try to roll up by the president, an argument.
Establishing a clear quid pro quo – a enormous investment in exchange for access to Trump – dinner enlivened these fears. “He gives viewers to people who buy Memecoin, who directly enriches him,” said democratic senator Jon Ossoff in Town Hall meeting April 25.
The identity of investors who have gained a place at the gala dinner are largely unknown. The greatest owners are investors going by user name, rekt, gant and case. The White House and the Event organizers did not answer when he was asked if the list of participants would be made public.
Other investors decided to reveal their identity, but using the competition as the possibility of branding. Holder of second place, Meco or “Memecore”, Asked users on x To send $ Trump to your wallet to raise their ranking, promising a full refund at the end of the competition. “See you at the Trump gala” in addition Rudy Rong, Business Development Director at Memecore, who comes from a billionaire Chinese family.
In the Congress, democratic legislators are trying to push the provisions that would prevent selected officials from releasing their own memecoins to balance the risk that these coins can facilitate bribery or open the door to foreign influence. Though Meme act He has little chance of saving the law because of the Republican Congress Most and the strength of holding Trump over his party, signals dissatisfaction because of the president’s involvement in cryptocurrency.
“He provides a payment coat from evil actors to selected officials and their families,” said Wired Congressmen of the Democratic Sam Liccardo, who introduced the Meme Act. “The point is that people who use may include people who do not have the best interest in America.”