Trump's $TRUMP cryptocurrency crashes after disastrous dinner
During a dinner organized by Donald Trump at a golf club in Virginia, there were significant controversies. The attendees were holders of the $TRUMP cryptocurrency, on which they spent a total of approximately $148 (CAD 203) million. After the unsuccessful meeting, its value dropped. This is not the end of the problems for the President of the USA.
$TRUMP is a cryptocurrency created by Donald Trump — he created it before he became president. Initially, the entire venture was considered a joke, but over time the so-called memecoin began to gain value. At its peak, a unit was priced at approximately $75.50 (CAD 104).
For those who bought the most, the politician organized a special dinner. Among the guests were former NBA star Lamar Odom and Nicholas Pinto. The latter invested approximately $360,000 (CAD 495,000). He hoped the event would be elite and luxurious, and after the meeting, he shared his negative impressions.
CNBC quoted the entrepreneur's account, stating that the food was "trash," and he only drank water and left hungry. He also stated that the US leader found time for only 25 of the 220 participants, and spent a total of just 23 minutes with them. Donald Trump also gave a short speech.
This led to a drop in the price of $TRUMP by about 16%. According to American media, this is not his only problem. Politicians accused the president of using his position for personal purposes and gains. He allegedly promised some investors a tour of the White House.
Politicians want a ban that will hit Trump
Senators Jeff Merkley and Chuck Schumer proposed the creation of a regulation prohibiting high-ranking officials from using cryptocurrencies for private purposes. They appealed for the appropriate provision to be added to the GENIUS Act.
The president's spokesperson, Karoline Leavitt, quoted by CNBC, stated that he handles business in his free time, and the event was not organized at the White House. However, they refused to publish the list of all guests.
After the unsuccessful dinner, mocking memes appeared online, portraying Donald Trump as a "crypto president" or "access seller." Jokes circulated that he invited investors to dinner without good food because it is not included in the price of $TRUMP.
