Top TRUMP tokenholders revealed? US President to host memecoin dinner

Some of the apical holders of Donald Trump’s memecoin could travel retired of the shadows to look for a meal the US President is readying to big connected May 22.

As of April 23, the authoritative Trump memecoin (TRUMP) website offered the accidental for the “top 220” holders to conscionable the president successful idiosyncratic astatine his play nine successful Washington, DC. At the clip of publication, the impermanent database for the lawsuit was unclear, but the task stated immoderate tokenholder who applied had to walk a inheritance check, “can not beryllium from a [Know Your Customer] watchlist country,” and could not person immoderate further guests.

The memecoin, which the then-president-elect launched connected Jan. 17 earlier taking office, has been heavily criticized by the crypto industry and lawmakers for perchance allowing overseas officials and involvement groups to nonstop wealth straight to the US President without due disclosure and oversight. The squad down the task controls 80% of the full supply, portion the identities of galore of the different apical tokenholders are chiefly unknown.

Top TRUMP memecoin holders arsenic of April 23. Source: TRUMP token

The terms of the TRUMP memecoin surged astir 52% from $9.30 to $14.20 soon aft the meal announcement. After the token launched connected Jan. 17, the project’s marketplace capitalization accrued to astir $15 cardinal earlier dropping 50% by Jan. 20.

Campaigning connected crypto

During his archetypal word successful 2019, Trump said helium was “not a fan” of cryptocurrencies similar Bitcoin (BTC), aboriginal comparing the coin to a “scam.” However, helium shifted run strategies erstwhile moving for bureau again: releasing his ain enactment of non-fungible tokens, accepting crypto donations, and appearing astatine crypto-themed events and conferences.

This is simply a processing story, and further accusation volition beryllium added arsenic it becomes available.