Trump Engages the Crypto Community with High-Profile Fundraisers
This month, former President Donald Trump is diving into the world of cryptocurrency with two high-profile dinners that target wealthy political donors and holders of the $TRUMP token. These events could potentially raise millions and strengthen Trump’s connections within the growing digital asset community.
Expensive Fundraising Dinner Scheduled for May 6
The first event, set for May 6, is a lavish fundraiser with tickets priced at a staggering $1.5 million per plate, positioning it among the most expensive presidential dinners in American history. Organized by MAGA Inc., the event will feature special guest David Sacks, a prominent venture capitalist and vocal advocate for reforming cryptocurrency and AI regulations in the United States.
Coding Access Through Cryptocurrency
Later in the month, on May 22, Trump will host a second dinner at his private club, Trump National, located near Washington, D.C. In a novel approach, this event will not be financed with cash, but rather through cryptocurrency. Access to the gala will be granted based on a ranking contest facilitated by the creators of the $TRUMP token.
The top 220 token holders will be given entry by May 12, with the top 25 receiving VIP access and a private reception, along with an optional “WIP White House tour.”
This gamified campaign strategy has garnered significant attention—resulting in a boost of over 50% in the token’s value, reflecting positively on the portfolios of early backers and project insiders.
Controversy Surrounding the Fundraising Strategy
Despite the buzz, the fundraising setup has sparked controversy. The watchdog group Accountable has labeled the contest as “the most openly corrupt personal enrichment scheme in U.S. presidential history,” voicing concerns over how it could enable wealthy individuals, potentially including foreign nationals, to buy influence through cryptocurrency holdings.
The fine print of the contest further adds to the scrutiny, warning participants that Trump’s attendance is not guaranteed, and in the event of cancellation, winners will receive a Trump-themed NFT instead.
According to on-chain analysis firm Chainalysis, trading activity for the $TRUMP token has generated over $324 million in transaction fees since its inception in January, with most funds reportedly directed toward wallets controlled by the token’s creators and entities affiliated with Trump. The project’s website claims that approximately 80% of the token’s supply is held by the Trump Organization and related wallets.
To mitigate public scrutiny, insiders have agreed to refrain from selling their holdings for at least an additional 90 days, as disclosed on the project’s website.
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