Source: Cointelegraph
Original: “The Top 220 'Big Brothers' of Trump Coin Can Dine with the President; Critics: A Race of Corruption”
The official website of Trump Coin (TRUMP) released a statement on Wednesday (April 23) announcing "the most unique invitation in the world" — the top 220 purchasers of Trump Coin will have the opportunity to dine privately with President Trump. The dinner will take place on May 22 at the Trump National Golf Club (located in Washington, D.C.). Additionally, the top 25 holders will enjoy "super exclusive VIP reception with the President" and "special tours," with specific details also disclosed in the announcement.
Before taking office, Trump promised to become the first "crypto president" in U.S. history, and after assuming office, his administration quickly took action to weaken regulatory enforcement against cryptocurrencies and loosen the regulatory framework for the industry. During this time, the Trump family has also made significant inroads into the crypto space, raising concerns about potential conflicts of interest and corruption.
In addition to Trump Coin, other cryptocurrency projects by the Trump family include the newly established World Liberty Financial and the Trump Media & Technology Group, a social media company in which Trump holds a $3 billion stake and is actively expanding into the crypto finance sector.
Tony Carrk, executive director of the nonpartisan government oversight and accountability organization Accountable.US, bluntly stated that Trump's latest move is a race of corruption for personal gain.
"No president has ever so blatantly used their position to profit, nor has there ever been such a high-risk opportunity for special interest groups to exchange money for favor from the executive branch, severely threatening the public interest."
Corey Frayer, who was responsible for cryptocurrency policy at the U.S. Securities and Exchange Commission (SEC) during the Biden administration, also criticized: "It's simply unbelievable; this clearly exposes the behavior of 'corruption.'"
In response, White House Press Secretary Anna Kelly countered, "President Trump's assets are managed by a trust fund run by his children, so there is no conflict of interest."
Before dropping to a low of $7.14 on April 7, Trump Coin had once reached a high of $74.59. Just last week, industry insiders predicted that Trump Coin could further collapse as 40 million new tokens are about to be unlocked. However, the coin's X account stated this week that the unlocking will be delayed by another 90 days.
Like most meme coins, Trump Coin has no actual products or services. The project website claims that 80% of the token supply is held by Trump companies and their affiliated entities.
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