U.S. President Donald Trump’s memecoin, called $TRUMP, jumped nearly 60% in value after he announced a dinner gala on May 22 for the top 220 holders of the token.
As part of the event, the top 25 investors will be invited to a private reception with Trump himself, making it a rare opportunity for supporters and crypto enthusiasts to meet him in person.
According to a report by The Wall Street Journal, a large portion of the token’s supply is controlled by Trump’s own family, which has raised eyebrows in the crypto community. This unique mix of politics and digital assets is giving new meaning to the idea of a “crypto president.”
The $TRUMP token has seen increased attention in recent months as Trump leans into digital trends during his political campaign.
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