VIP investors with username top and IVO sold 200,000 (valued nearly $2.7 million) and 427,568 (valued nearly $5.7 million).
Trump first announced his crypto coins three days before his 2025 inauguration. He uses it as a meme, almost entirely for financial speculation. Since Memecoins do not generate income and have no potential business model, their prices tend to fluctuate violently with the public sentiment of the person, meme or concept they are based on.
In the days after the deal began, Trump’s 20% circulation soared to $14 billion. On the surface, Trump’s net worth increased by tens of billions almost overnight.
Since then, the value of the coin has dropped by more than 80% from its peak. But when Trump announced the dinner on April 23, it sparked another trade crazy trade that led to the price of souvenirs. As a market intermediary, combat combat and CIC numbers may earn hundreds of thousands of dollars in transaction fees.
Since its launch, critics have viewed Trump’s memorials as immoral “money-making” – an abuse of Trump’s office for self-inculcation. They also expressed concerns that coins could be used to transfer wealth carefully to the Trump family. This argument proposes that by making substantial investments and increasing the price of coins, foreign powers and other politically motivated players can try to support the president.
Dinner reignited those fears while building a clear quirk (in exchange for a huge investment in contact with Trump). “He is awarding audiences to people who buy directly enriching his memes,” Democratic Senator Jon Ossoff said at a town hall meeting on April 25.
The identity of investors who won a seat at a dinner is largely unknown. The largest holders include investors with usernames Woo, Rekt, Gant and Case. When asked whether the list of participants would be published, the White House and event organizers did not respond.
However, other investors choose to reveal their identities, however, take competition as a brand opportunity. The second-place holder Meco or “Memecore” asks users on X to send $Trum to their wallet to improve their rankings and promise a full refund at the end of the game. “See you at Trump’s party,” added Rudy Rong, chief business development officer of Memecore, who comes from a billionaire Chinese family.
In Congress, Democratic lawmakers are trying to push legislation to prevent elected officials from freeing their members to offset the risk that these coins could promote bribery or open the door to foreign influence. While the Meme Act has few chances to be included in the law because of Republican congressional majority and Trump’s strength with his party, it shows growing dissatisfaction with the president’s involvement in cryptocurrencies.
“It provides a cape for payments from bad actors to elected officials and their families,” Sam LiCcardo, a Democratic Congressman who introduced the Meme Act, told Wired. “The key is that those who benefit may include individuals who do not have the best interests of the United States.”
