U.S. President Donald Trump Announces He Will Host an Informal Dinner for Investors

As a result, investors flocked to this cryptocurrency, causing the coin price to surge by over 60%.

U.S. President Donald Trump announced that he would be hosting an informal dinner for investors who purchased his issued cryptocurrency '$Trump'. As a result, investors flocked to this cryptocurrency, causing the coin price to surge by over 60%. The president is once again embroiled in controversy for allegedly seeking personal gain using his public position.

On the 23rd (local time), the 'Trump Meme Coin' side posted a popup on their website inviting coin investors to this dinner. They announced that they would be inviting the top 220 based on the average coin balance between today and the 12th of next month, and the leaderboard would be released in real-time. Invitees can attend a private dinner held at 'Trump National Golf Club', 40 minutes by car from the White House, on the 22nd of next month, and the top 25 investors among them will also be invited to a welcome event and a VIP tour of the White House before the dinner.

The meme coin side stimulated hopefuls with phrases like "specially limited, once-in-a-lifetime invitation" and "a golden opportunity to meet President Trump in person". They also encouraged purchases by saying, "The more you hold, the longer you hold, the higher your rank will be".

As a result, the coin price soared to $14.6 in the afternoon, a 60.6% surge compared to 24 hours ago. However, it is still lower than the peak price (about $75) when the meme coin was unveiled ahead of the inauguration ceremony last January.

Dylan Bain, an analyst at cryptocurrency data analysis firm Messari, analyzed, "It's a strategy to get people interested again and buy coins as the coin price has dropped since the cryptocurrency launch."

The invitation has sparked controversy over President Trump's pursuit of personal gain. This is because 80% of the coin's circulation is held by two affiliates of the Trump Group. The New York Times (NYT) pointed out, "Businesses related to President Trump own a significant amount of $TRUMP coins, and the president personally benefits when the price goes up, at least on the books."

"{This investor dinner is truly unbelievable, and it blatantly reveals the so-called 'pay-to-play' deal where you have to pay to receive benefits," said Corey Frayer, who oversaw cryptocurrency policy at the U.S. Securities and Exchange Commission (SEC) during the Biden administration, to the NYT.

The Wall Street Journal (WSJ) also reported, "President Trump is ignoring criticism that his family's cryptocurrency business causes a clear conflict of interest while he is busy overseeing digital asset regulation."

Last month, on the 11th, President Trump was criticized for promoting a specific product when he test-drove a Tesla 'Model S' alongside Elon Musk, CEO of Tesla, head of the Department of Government Efficiency (DOGE), on the White House grounds.