Donald Trump offered a private dinner to the 220 largest investors in his memecoin, $TRUMP, at his Virginia golf club, followed by a White House tour.
This event was announced as the "most EXCLUSIVE INVITATION in the World" on a website promoting the cryptocurrency.
This action raises significant ethical concerns, particularly given Trump's simultaneous promotion of the cryptocurrency and his appointments of regulators who are scaling back crypto enforcement. It appears to be an exchange of access to the White House for investment in his crypto venture.
Following the announcement, the price of $TRUMP surged over 60%, indicating a rapid accumulation of coins by investors hoping to secure a dinner invitation.
Trump's venture into the cryptocurrency market continues to cause ethical dilemmas and is receiving considerable public attention. His actions blur the lines between his personal business dealings and his political influence.
The flashy online announcement called it “the most EXCLUSIVE INVITATION in the World,” a chance to have “an intimate private dinner” with President Trump at his members-only golf club in Virginia, followed by a tour of the White House.
A seat would be reserved for each of the top 220 investors in $TRUMP, a cryptocurrency that Mr. Trump launched on the eve of his inauguration.
In an astonishing escalation of the Trump family’s efforts to profit from crypto, a website promoting $TRUMP, the president’s so-called memecoin, announced on Wednesday that the coin’s largest buyers would be invited to meet him. The effort was, in effect, an offer of access to the White House in exchange for an investment in one of Mr. Trump’s crypto ventures.
“Have Dinner with President Trump and the $TRUMP Community!” the invitation said. “Let the President know how many $TRUMP coins YOU own!”
For months, Mr. Trump’s forays into crypto have created ethical conflicts with little precedent in presidential history. As he markets digital currencies to the public, Mr. Trump has also appointed regulators who are scaling back crypto enforcement and called for legislation that would boost the industry’s prospects in the United States.
As news of the dinner invitation spread on social media, the memecoin’s price surged more than 60 percent, suggesting that investors were rushing to accumulate enough coins to qualify for a dinner seat.
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