In this post:
- According to this piece, the news that the top 220 holders would be invited to a meal with Trump caused the price of the $TRUMP to jump by more than 60%, from about $9 to over $14.7.
- The Trump National Golf Club in Washington, D.C., is anticipated to host the event on May 22.
- Your rating will rise the more $TRUMP you own and the longer you hold it.
After the initiative revealed that the top 220 holders would receive an invitation to a Gala Dinner with the US president, the price of the $TRUMP jumped by more than 60%, from about $9 to over $14.7.
In just one day, the coin’s trading volume had reached 3.37 billion. Additionally, over 1,500 transactions have been made on the TRUMP/USDC trading pair today alone. The coin is currently up 43% over the last day at $13.05. However, it has retraced to below $14.
According to the project’s website, the event that has prompted the traffic is scheduled for May 22 at the Trump National Golf Club in Washington, D.C. The TRUMP currency is still valued about 80% less than its peak of $73 on January 19, despite today’s increase.
A plan to distribute $300 million worth of unlocked TRUMP tokens
The incident occurred soon after the April 18 release of $300 million worth of locked-up TRUMP tokens into circulation. There is a lot of enthusiasm surrounding the evening.
“The top 25 coin holders are invited to an exclusive reception before dinner with your favorite president,” reads the project page. Additionally, we have organized a special VIP White House tour for you on our own, so be sure to stay in town.
Investors in the top 15 will also receive an additional treat: a “VIP White House Tour” and a special reception with Trump before to the dinner. The White House hasn’t responded to the incident, though.
Your rating will rise the more $TRUMP you own and the longer you hold it. In the meantime, over 75% of all created tokens remain locked. The subsequent unlock will take place. The next unlock will happen in July, adding over $600 million worth of coins to the supply.
Attorneys claim that TRUMP calls into doubt POTUS
Under US law, political donations are restricted. Each individual may donate up to $3,500 to a candidate in a single election, according to the Federal Election Campaign Act. The US Supreme Court’s Citizens United decision from 2010 allows corporations to donate as much money as they like to super political action committees that aren’t associated with any one candidate.
Trump is associated with a number of token projects, including the coins. 60% of World Liberty Financial is owned by DT Marks DEFI LLC, a business with ties to the Trump family. A decentralized financial firm called World Liberty Financial enables investors to create and borrow bitcoin.
The TRUMP token, which was released a few days prior to Donald Trump’s January 20 inauguration as president, sparked backlash. It was viewed as handing insiders a lot of tokens and abusing Trump’s notoriety.
The project’s market capitalization rose to almost $15 billion after the token’s January 17 debut, but by January 20, it had fallen by 50%. Trump is touring TRUMP holders in the White House this time.
Democrats have opposed this concept from the start. “The US President is operating a backdoor bribery scheme whereby any CEO or foreign oligarch can covertly send him money through his cryptocurrency scam in exchange for favors,” said Sen. Chris Murphy.
Sen. Bernie Sanders made the same statement during a meeting. He claimed that anyone may contribute and that Trump generates money by selling coins and cryptocurrency, which is a direct route to the president. Although there is no evidence that it has occurred, attorneys have stated that it is conceivable.
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