In a bold move that has captured the attention of both crypto investors and political observers, former U.S. President Donald Trump’s meme coin, $TRUMP, experienced a massive price surge after a promotional campaign promised top holders an exclusive dinner invitation. The announcement has triggered a mix of intense buying, ethical backlash, and geopolitical scrutiny.

Million-Dollar Purchases Trigger Crypto Rally

On Wednesday, the team behind $TRUMP coin, operated by a Delaware-based firm called Fight Fight Fight and a Trump Organization affiliate, revealed that the top 220 coin holders would be invited to a private dinner event at Trump National Golf Club, scheduled for May 22. This announcement prompted 27 anonymous wallets to buy over 8 million $TRUMP coins, representing nearly $100 million in market value.

The largest purchase totaled 2 million coins, worth an estimated $24 million, while each of the 27 wallets bought at least 100,000 coins, or roughly $1 million worth. These purchases propelled the price of the coin by over 30%, jumping from approximately $9.20 to $12, and boosted Trump-linked wallets’ value by over $100 million in a single day.

Exclusivity With Conditions

According to the official website, the top 220 coin holders will be allowed into a dinner gala, touted as “one of the most exclusive events in the world.” However, attendees will still have to pay for their meals, parking, and tips, despite the sizable investment required for entry.

Even more intriguing, only the top 25 holders will be granted a VIP reception and a White House tour. But a critical detail buried in the terms and conditions states that Trump may not actually attend the event. If he is absent, guests will instead receive a limited-edition Trump NFT, a digital collectible with no assured value.

Foreign Wallets Raise Red Flags

Analysis from Flipside Crypto and Arkham Intelligence shows that several participating wallets were linked to foreign exchanges such as Binance and HTX, both of which are not registered for U.S. users. This revelation sparked concerns about foreign entities potentially gaining political access or favor through crypto investments.

The top wallet, labelled “Sun,” holds over 1.1 million $TRUMP coins valued at more than $13 million, and is reportedly linked to HTX, a platform co-founded by Justin Sun, a Chinese crypto billionaire. Sun has previously invested $30 million in Trump’s World Liberty Financial venture and is currently facing SEC fraud charges, although some federal investigations into him were recently paused.

A Question of Ethics and Legality

The promotional campaign has triggered intense ethical criticism. Virginia Canter, a former Obama White House counsel, condemned the campaign as “a spectre of pay-to-play,” arguing that offering access to a potential president in exchange for crypto investments violates public trust.

Similarly, Senator Chris Murphy (D-Conn.) called the offer “the most brazenly corrupt thing a President has ever done. Not close.” These remarks reflect mounting concerns that Trump is leveraging his political stature for personal crypto gains, potentially undermining democratic norms.

Crypto as Campaign and Profit Tool

Since the coin’s inception ahead of Trump’s second inauguration push in January 2024, $TRUMP and its related ventures have generated an estimated $312 million in token sales and $41 million in fees for Trump and his associates.

The Trump-aligned team also profits each time a token is bought, sold, or traded, including through its website’s “Buy Now” feature, which allows purchases via debit cards. This model ensures a steady stream of passive income for the Trump Organization, even when coin prices fluctuate.

Despite the recent rally, the coin’s current value remains 90% below its all-time high of $74, recorded in January 2024. Still, the dinner offer and the promise of political proximity continue to serve as major marketing tools to drive investor enthusiasm.

White House and Trump Organization Remain Silent

As controversy swirls around the campaign, neither the Trump Organization nor the White House has issued official statements in response to media inquiries. Their silence has only intensified speculation and criticism, leaving questions of legality and ethics unanswered.

Conclusion: Between Power, Politics, and Profit

The sudden surge in $TRUMP coin investment underscores how cryptocurrency can be wielded as both a political instrument and a vehicle for personal gain. The possibility of foreign wallets gaining access, combined with the coin’s rapid appreciation, highlights the potential risks of merging public influence with private profits.

For Trump supporters, the project is viewed as visionary — part of a broader plan to make America the “crypto capital of the planet.” But for critics and ethics watchdogs, it stands as a dangerous precedent that blurs the boundaries between campaign finance, political access, and commercial exploitation.

As the May 22 dinner date approaches, the world watches to see whether the event — and the President — will actually show up, or whether the promise of proximity to power was just another marketing gimmick in the ever-volatile world of meme coins.

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