The race to win tickets to an unique crypto dinner gala with President Donald Trump at his non-public golf membership in Virginia on Might 22 ended with high 220 holders of the Trump meme coin profitable invites to the black tie gala, the coin’s official X account introduced Monday.
A “leaderboard” of the highest 220 holders showing on the web site didn’t show the identities of the winners, however it listed quite a few wallets that some crypto consultants have linked to attainable international people and entities, heightening considerations about potential conflicts of curiosity arising from the Trump household’s companies and international pursuits.
Based on the meme coin’s web site, the highest 25 “VIP holders” have been additionally invited to what it described as an “Unique Reception earlier than Dinner” and a “Particular VIP Tour.”
Because the Trump household stands to doubtlessly soak up tens of tens of millions of {dollars} from the coin’s transactions and probably much more from its possession of the coin, the worth of Trump’s meme coin has been in fixed fluctuation over the previous three weeks, with quite a few supporters and crypto fanatics flocking to buy the coin to safe a seat on the gala whereas quite a few others promote the coin to revenue off the hype.
The coin’s worth dropped quickly on Monday because the competitors ended, and was priced at $12.59 as of 4 p.m. ET. When the gala competitors was first introduced final 12 months, the coin’s worth jumped by greater than 55% and later reached a excessive of practically $16.42, in accordance with Coinbase.com.
Whereas fluctuations within the Trump coin’s worth have resulted in large earnings for a lucky few, a whole bunch of 1000’s of traders have reportedly misplaced cash on the coin. Based on CNBC’s reporting of blockchain analytics agency Chainalysis’ informationroughly 764,000 crypto wallets have misplaced cash on Trump meme coin investments, whereas 58 wallets have made tens of millions from their Trump coin investments.
A White Home spokesperson didn’t instantly reply to a request for remark from ABC Information.
President Donald Trump speaks throughout a information convention about prescription drug costs, within the Roosevelt Room of the White Home, Might 12, 2025, in Washington.
Mark Schiefelbein/AP
Though the coin’s web site had earlier marketed a “Particular VIP White Home tour” for the highest 25 coin holders, as of Monday afternoon it merely stated “Particular VIP tour,” with out mentioning the White Home. Moreover, the web site included a disclaimer saying the tour is being organized by the Battle Battle Battle LLC, and that the president himself is showing as a “visitor.”
In its social media announcement in regards to the conclusion of the competition, the publish additionally introduced a “rewards factors program” and the awarding of “unique NFTs” for the winners.
Based on crypto consultants, the pockets of the highest coin holder — nicknamed “Solar” and at the moment holding roughly $16.6 million price of the Trump meme coin — is owned by a international crypto trade suggested by Chinese language billionaire Justin Solar, who just lately moderated a panel dialogue between Eric Trump and Zack Witkoff at a crypto convention in Dubai, the place Witkoff introduced the opposite Trump household crypto enterprise, World Liberty Monetary, had partnered in a $2 billion enterprise take care of an Abu Dahbi state-backed funding agency. Justin Solar didn’t instantly reply to a request for remark from ABC Information.
Solar can be one in all World Liberty Financials’ largest traders, buying $75 million price of its coin the day earlier than Trump’s inauguration earlier this 12 months. A month after that funding, SEC attorneys beneath the Trump administration moved to halt an alleged fraud case in opposition to Solar, who alongside along with his corporations has denied wrongdoing.
The second high holder, a Singaporean entity recognized by crypto consultants as doubtless being MemeCore, and nicknamed “MeCo,” has been extra vocal about their race to safe a VIP ticket — publicly soliciting followers to ship Trump coin to their pockets to allow them to obtain “#1 on the $TRUMP leaderboard” and “conquer the complete meme house,” with the promise of returning the tokens after the occasion.
In all, the highest 220 folders maintain a complete of 13.7 million Trump cash, valued at practically $14 million as of 4 p.m. ET Monday, in accordance with Coinbase.com.
Notably, 17 out of the highest 220 coin holders on the leaderboard, together with one within the high 25, appeared to carry zero Trump coin as of Monday afternoon — probably that means that they bought their holdings earlier than the competition ended.
Consultants say that is attainable as a result of the highest 220 holders have been chosen primarily based on “time weighted holdings,” which have been calculated primarily based on “each the quantity and length” of 1’s holdings from April 23 by way of Might 12. “The longer you maintain, the upper your weighted rating turns into,” the web site says.
It is not clear if the zero Trump coin holders will get invited to the occasion.
