US President Donald Trump hosted a extremely publicized crypto dinner on Might 22 for prime holders of the TRUMP memecoin, attracting a mixture of crypto elites and public figures from throughout the globe.
The unique occasion, first introduced in April, was reserved for the highest 220 TRUMP token holders. The 25 largest holders obtained VIP entry, together with a non-public reception with Trump earlier than dinner.
In accordance with information from CryptoRank, the attendees collectively held round $394 million price of the TRUMP token earlier than the occasion. Notably, 72% of visitors got here from outdoors the US, highlighting the memecoin’s international attraction.
In the meantime, TRON founder Justin Solar topped the checklist of attendees with a $19 million stake within the TRUMP token, whereas the common visitor held roughly $1.79 million in TRUMP. The median funding within the digital asset was about $348,000.
Who attended TRUMP’s dinner?
Whereas Trump’s group didn’t publish an official visitor checklist, social media posts and blockchain information helped affirm a number of attendees.
These included Justin Solar, Vincent Liu of Kronos Analysis, Synthetix founder Kain Warwick, Magic Eden CEO Jack Lu, and unnamed representatives of crypto initiatives like Biconomy, Sonic SVM, and SolCex.
Others who noticed or self-reported on the occasion had been former NBA participant Lamar Odom, who lately launched the ODOM token, MemeCore executives like Rudy Rong, and Russian-born crypto entrepreneur Nikita Anufriev.
The visitors described the occasion as a uncommon convergence of worldwide crypto gamers, a lot of whom flew in from Asia and Europe. Liu of Kronos stated:
“Listening to President Trump affirm his help for crypto in individual is each inspiring and deeply motivating.”
In the meantime, images shared on social media revealed a luxurious dinner that includes halibut, filet mignon, and a signature natural salad named after Trump.
Notably, Solar stated he obtained a Trump Tourbillon Watch on the dinner
TRUMP token dumps after dinner gala
Whereas the dinner was meant to rejoice the eponymous token’s success, market sentiment rapidly soured. Shortly after the occasion, the worth of TRUMP dropped over 7% to $13.70, in response to CryptoSlate’s information.
Blockchain sleuths revealed that just about half the gala attendees not held TRUMP tokens of their wallets. The truth is, 92 of the 220 eligible wallets had totally exited their positions earlier than the occasion.
Moreover, the token balances amongst prime holders declined from 11.3 million to 7 million post-dinner.
Furthermore, the glitz of the occasion additionally attracted warmth from demonstrators and US lawmakers alike, who criticized the occasion as a pay-to-play scheme.
Senator Chris Murphy known as the gala “corrupt” and demanded that Trump launch the official visitor checklist if the dinner was reputable.
He stated:
“Trump’s meme coin is designed to facilitate corruption. You possibly can pay Trump secretly, which will get you secret particular entry to the President. If Trump’s dinner with the highest coin consumers was legit, he would launch the checklist of attendees. However it’s corrupt. So the checklist stays hidden.”
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