The price of $TRUMP, a meme cryptocurrency linked to US President Donald Trump, rose over 60% on April 23, after an announcement offering top buyers exclusive access to events with Trump.

The top 220 coin holders will be invited to a gala dinner at Trump National Golf Club on May 22.

The top 25 holders will also get additional benefits like a private VIP reception and a special tour.

Launched before Trump’s inauguration in January, the $TRUMP coin has generated at least US$350 million in fees.

Despite a previous decline, interest has surged again following this announcement.

🔗 Source: Reuters

🧠 Food for thought

1️⃣ Political cryptocurrency promotion follows concerning historical patterns

Trump’s meme coin promotion mirrors a growing trend of political figures leveraging their influence in cryptocurrency markets for personal gain.

Earlier this year, Argentine President Javier Milei faced significant backlash after promoting a cryptocurrency called $LIBRA that surged initially but then crashed dramatically, leaving followers who invested with losses 1.

This pattern extends beyond politics into celebrity culture, where figures like Kim Kardashian have faced regulatory action for promoting tokens that later collapsed in value 2.

The $TRUMP coin has generated at least $350 million in fees for entities connected to the president according to Chainalysis, demonstrating the lucrative nature of these promotions despite their risks to retail investors.

The invitation offering dinner with the president to top holders raises ethical questions about the intersection of public office and private financial gain.

2️⃣ Trump’s administration represents historic shift in US crypto policy

The current administration has rapidly transformed the regulatory landscape for cryptocurrencies through executive action, moving from enforcement to active promotion.

An executive order signed on January 23, 2025, established a working group to propose a comprehensive regulatory framework for digital assets, marking a dramatic departure from previous administrations’ approaches 3.