A cartoon image of Donald Trump from the US presidential election with a cryptocurrency token, painted in front of the White House to mark his inauguration in front of the White House, exhibited at the Coin Hero Store in Hong Kong, China on Monday, January 20, 2025.
Paul Yong | Bloomberg | Getty Images
Trump coin jumped over 50% on Wednesday after the owners of the top 220 tokens were promised dinner with the president.
“I’m having dinner in Washington, DC with President Trump,” he reads a message on the front page of the Trump Coin website. Dinner – Black Tie Options – is scheduled for May 22nd, with top 25 wallet receptions. The “VIP White House Tour” will take place the next day, the site says.
With prices spikes, $Trump Coins totals a total of $2.7 billion. According to CoinmarketCap, it was far the biggest move among cryptocurrencies outweighing SUI.
Trump Coin debuted in January just before the inauguration, showing early the president’s willingness to embrace code and the creation of the wealth it offers to him and his family. The project’s market capitalization was a post about President Donald Trump’s true social and “It’s time to celebrate everything we stand: Win!” Within a few days, it lost most of its value.
First Lady Melania Trump has also launched her own coin, $Melania. It temporarily surpassed its $2 billion market value before crashing alongside $Trump.
Shortly after the launch of The $Trump and $Melania Coins, the SEC issued guidance that Meme Tokens is not qualified as a securities and effectively protects the project from immediate regulatory scrutiny.
So far, only 20% of Trump’s supply can be traded. The remaining 80% – the insider’s holdings – remains locked up under a three-year vesting schedule. The first tranche is expected to be unlocked soon, and could be released to sell millions of dollars worth of tokens, allowing President Trump and Project Insiders to win cash on Wednesday’s pop.
Like most meme coins, there are no underlying products or services. The project’s website claims that 80% of the token supply is held by the Trump organization and associated organizations.
Watch: Bohein, Director of Digital Assets on Priorities for Trump’s Cryptoworking Group
Source link
