The Official Trump (CRYPTO: TRUMP) meme coin project shortlisted the top 220 holders eligible for an exclusive dinner with President Donald Trump on Monday, with top wallets linked to foreign entities.
What Happened: The meme coin’s official website posted the leaderboard, stating, “President Trump will see YOU on May 22 at the Gala Dinner in Washington D.C.”
The top position on the leaderboard, with about $17.68 million in Trump’s meme coin, is associated with a wallet named “SUN,” which, according to Lookonchain, is owned by Tron (CRYPTO: TRX) founder and cryptocurrency billionaire Justin Sun.
Interestingly, Sun is also a leading investor and advisor at World Liberty Financial, the decentralized finance platform backed by the Trump family.
Sun has been a controversial figure and faced legal pressures from the SEC on charges of fraud and market manipulation. Earlier in February, both parties—Sun and the SEC—requested a 60-day stay in the proceedings to explore a potential resolution.
Sun didn’t immediately return Benzinga’s request for comment.
See Also: Bitcoin, Ethereum, Dogecoin Slip While XRP Holds Firm: Is A Pullback Coming?
The second-largest holder, with approximately $17.18 million, is the Singaporean cryptocurrency startup MemeCore, a Forbes report said, citing the firm’s public X posts. It also highlighted the entry of Kain Warwick, an Australian crypto investor, into the top 220.
Why It Matters: The exclusive gala dinner has raised concerns about the potential for corruption, with critics arguing that it allows wealthy and possibly foreign actors to buy access to the former president.
It triggered a call for impeachment from Sen. Jon Ossoff (D-Ga.). Moreover, Sen. Elizabeth Warren (D-Mass.) requested that the U.S. Office of Government Ethics investigate Trump’s potential violation of federal ethics regulations
The project, 80% of whose supply is controlled by an affiliate of the Trump Organization, emphasizes that TRUMP is not a political initiative or investment opportunity but an expression of support for Trump’s ideals.
Price Action: At the time of writing, TRUMP was exchanging hands at $12.45, down 10.06 in the last 24 hours, and over 77% over the week, according to data from Benzinga Pro. Since its peak, the meme coin has fallen 83.63%.
Photo Courtesy: Christopher Sciacca on Shutterstock.com
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
