According to Xinhua News Agency, U.S. President Donald Trump previously announced on social platforms that he would invite the top 220 people who purchased the most "Trump Coin ($TRUMP)" to attend a dinner party on May 22 and have dinner with Trump. The official website of "Trump Coin" announced on local time May 12 that the competition for tickets to the "cryptocurrency dinner" had come to an end. Cryptocurrency intelligence company Inca Digital said that in order to win the opportunity to dine with Trump, buyers of "Trump Coin" spent a total of approximately $148 million.

On February 13, 2025, Brussels, Belgium, the official meme coin of U.S. President Donald Trump - Trump Coin. Visual China Material Picture.

The official website of "Trump Coin" shows a "ranking list" of the top 220 token holders, but their real identities are not disclosed. However, some cryptocurrency experts pointed out that several wallet addresses may be related to foreign individuals or entities, which has exacerbated concerns about potential conflicts of interest between the Trump family's business interests and foreign powers.

The White House said that this auction activity promoted by Trump on his social platform will not affect the president's policy decisions. White House press secretary Rowan Leavitt told reporters last week that Trump fully complies with all conflict-of-interest laws in his related activities involving cryptocurrencies.

The dinner will take place at the Trump National Golf Club in Virginia, where the top 25 buyers with the most "Trump Coin" holdings will also receive a "super exclusive VIP reception" with the presence of the president, as well as the opportunity to visit the White House. Invited buyers can appoint others to attend on their behalf if they cannot attend. The top four buyers will receive a Trump brand watch - "the most beautiful watch ever made."

In the past three weeks, the price of "Trump Coin" has fluctuated dramatically, with many supporters and cryptocurrency enthusiasts scrambling to buy it to qualify for the dinner party, while others cashed out amid the hype. As the competition for the entrance tickets came to an end, the price of the coin fell rapidly on the 12th. By 4:00 PM Eastern Time, the price was $12.59. According to data from Coinbase, when the official announcement of the "Trump Coin" dinner was made, the price surged by 55%, reaching nearly $16.42.

Although the price fluctuations of the coin have allowed a few people to profit significantly, according to reports by US media citing data from blockchain analysis companies, approximately 764,000 cryptocurrency wallets incurred losses due to investing in "Trump Coin," while only 58 wallets achieved profits in the millions of dollars.

One user named "Sun" appears on the ranking list of the "Trump Coin" website. According to two cryptocurrency forensic companies, this account belongs to HTX, an overseas exchange, where billionaire Sun Yuchen, founder of the cryptocurrency platform Tron, serves as the global advisor. Javier Selgas, CEO of a Mexican transportation logistics company, announced last month that he plans to purchase $20 million worth of "Trump Coin" in an attempt to persuade Trump to reduce tariffs on Mexico, which would benefit his company. Australian entrepreneur Kain Warwick also appears on the list, stating that he hopes to chat with Trump or his son Eric for a few minutes during the dinner.

In January 2025, then President-elect Trump suddenly announced that he would issue a cryptocurrency named after himself - Trump Coin. On March 7, President Trump signed an executive order to establish a strategic Bitcoin reserve, calling Bitcoin "digital gold." On the same day, the White House hosted a cryptocurrency summit, where Trump stated that the United States should become a "global Bitcoin superpower and the center of the world's cryptocurrencies."

Additionally, according to the report by The Paper, on May 12, American Bitcoin, a Bitcoin mining company invested in by Trump's two sons, announced its merger with Gryphon Digital Mining Inc (NASDAQ: GRYP) through stock consolidation to list on the NASDAQ Exchange. On the same day, GRYP's shares surged dramatically after the market opened, triggering circuit breakers multiple times, with a maximum increase of over 440%.

Reporter Chen Qihan, The Paper

(This article comes from The Paper. For more original news, please download the "The Paper" app.)

Original source: https://www.toutiao.com/article/7503830711955145227/

Disclaimer: This article represents the author's personal views. Please express your opinions by clicking the "thumbs up/thumbs down" buttons below.