
Factly online notification He called it “the most exclusive invitation in the world”, the chance to have an “intimate private dinner” with President Trump in his golf club only for members in Virginia, followed by a tour of the White House.
The headquarters would be reserved for each of the 220 investors in $ Trump, a cryptocurrency that President Trump started on the eve of his inauguration.
In the stunning escalation of the Trump family’s efforts to profit from cryptocurrencies, a website promoting Mr. Trump on Wednesday announced that the biggest buyers of the coin would be asked to meet him. In fact, the effort was an offer to access the White House in exchange for investment in one of Mr. Trump’s company crypto.
“Dinner with President Trump and community $ Trump!” The invitation said. “Let the President know how many coins of $ Trump you own!”
For several months, Mr. Trump’s raids have triggered ethical conflicts with a small precedent in presidential history. When it sells digital currencies to the public, Mr. Trump also appointed regulatory bodies that regulate cryptocurrencies and call for legal regulations that would increase the prospects of the industry in the United States.
As the news of the invitation to dinner expanded to social media, the price of memecoin increased by more than 60 percent, suggesting that investors have rushed to accumulate coins to qualify for dinner.
“That’s really unbelievable,” said Corey Frayer, who supervised the crypto policy for securities and stock exchange during the Biden administration. “They expressly make an agreement to pay.”
A business entity associated with Mr. Trump owns a large tranše coin, which means that the president personally benefits every time the price increases, at least on paper. Mr. Trump and his business partners also collect fees when trading coins, an unexpected unexpected nearly $ 100 million a week after the coin debuted in January.
Victoria Haneman, Professor of the Right to Creighton University, said the offer was concerned about the ways Mr. Trump and his businesses “can maneuver to benefit from the Presidency”.
At the beginning of this year, SEC issued the official instructions that MEMECOINS, a type of cryptocurrency based on an online joke or a celebrity mascot, would not be subject to supervision. Cryptic skeptics criticized this policy as a risky step that could open the door to uncontrollable abuse and fraud of memecoin promoters.
As president, Mr. Trump has a wide immunity before laws governing conflicts of interest – a gap that he has he stressed in the past. Representatives of the White House did not immediately respond to the request for comment. Eric Trump, which helps to operate Trump, which joined the sponsoring of $ Trump, refused to comment.
Once the cryptocurrency was skeptical, Mr. Trump accepted digital currencies last year because the company’s crypto poured tens of millions of dollars into the $ 2024.
In the autumn, Mr. Trump and his sons Donald Jr., Eric and Barron said they founded World Liberty Financial, which offered its own digital currency WLFI. So far $ 550 million has been sold from these coins, According to the company.
Shortly thereafter, the social media company Mr. Trump, Trump Media & Technology Group, moved to offer amateur investors and announce partnership with a digital trading platform partnership with a partnership with a digital trading platform.
But Memecoin Mr. Trump has caused the greatest attention and buzzing.
Just three days before the inauguration, Mr. Trump published on Truth Social, his social media website that he was selling a coin. The sales of Trump immediately increased, which was the elected crypto billionaire on paper.
Mremecins tend to rise quickly and fall and the price of $ Trump soon cervices. Traders who have accumulated a coin have suffered more than $ 2 billion in cumulative losses.
Dinner announcements appeared calculated to ignite more interest in coins.
When $ Trump was sold in January, a large shelter was assigned to the project support. However, the rules built into the offer have prevented any of the coins from selling these initiated Until last weekIt increases concerns that they would try to interpret their shares and cause the price of $ Trump to further drop.
Instead, the price gradually climbed on the days before the release of the invitation and after the announcement happened, it rose.
The MEMECOIN website said that dinner with Mr. Trump was to take place on May 22 at the Trump National Golf Club and that the president would discuss the “future crypto”.
The Top 25 buyers $ Trump would win access to the reception with Mr. Trump before dinner.
“Most exclusive once for lifelong invitation,” the announcement said.