Representation of the $Trump meme coin together with Bitcoin and crypto coins, seen in this photo illustration. Taken in Brussels, Belgium, On 2 March 2025. (Jonathan Raa / Sipa USA) *** Strictly for editorial news purposes only ***(Sipa via AP Images)
At least some of the top holders of Donald Trump’s memecoin, who are eligible to apply for a private dinner with the former president, appear to be based outside the United States. A Bloomberg analysis found that 19 of the top 25 wallets on the TRUMP token leaderboard used foreign crypto exchanges that do not allow U.S. customers, hinting these holders could be foreign nationals or Americans living overseas. More than half of the top 220 wallets that are eligible for the dinner also used such platforms.
The TRUMP memecoin was launched on January 17, three days before Trump’s inauguration. On April 23, the team behind the coin announced that the top 220 token holders would be invited to a May 22 dinner at Trump’s Virginia golf club, with the top 25 getting access to a VIP tour and reception. However, the identities of the holders remain unknown, with only short usernames like “Sun,” “MeCo,” and “JIGL” listed on the coin’s site. Bloomberg’s review of SolScan and Dune data showed that at least 76% of the token value held by the top 220 wallets likely comes from overseas accounts.
After the dinner announcement, the coin’s price jumped from around $9 to $14, with more than 400 transactions over $100,000 occurring in just five days. One foreign wallet made two purchases worth $3.6 million just hours after the event was announced. The website site says applicants must pass a background check and cannot be from countries flagged on Know Your Customer (KYC) watchlists. Still, it is unclear how organizers will screen wallets or verify identities. Attendees must use self-custodied wallets and cannot bring guests.
Meanwhile, Senator Elizabeth Warren and Representative Adam Schiff have raised the event. They recently sent a letter calling for an investigation, and warned the event could be “pay-to-play” corruption and a “severe risk.” One senator reportedly even called for impeachment, saying Trump is “selling access for what are effectively payments directly to him.”
South Korea is pushing deeper into blockchain integration as its Ministry of Economy and Finance…
Drift Protocol is attempting a major comeback after one of the largest DeFi exploits of…
Bitcoin pulled back below the $74,000 level after another failed attempt to break through key…
Charles Schwab is officially entering the next phase of crypto adoption, beginning the rollout of…
Crypto’s political influence is accelerating again as a super PAC backed by the Solana ecosystem…
Wall Street’s political involvement in crypto is accelerating as Cantor Fitzgerald donated $10 million to a pro-crypto…