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President Donald Trump has two dinners this month focused on codes on his calendar. One is aiming to become a deep pocket political donor, and the other is a memecoin billionaire. Both are poised to help him attack millions of people.
The first event, Monday's $1.5 million fundraiser, is one of the most expensive political fundraisers in recent memory. The second May 22nd will allow players to access Trump's inner circle, not cash, to holders of $Trump Tokens.
The May 5th “Crypto & AI Innovators Dinner,” hosted by Maga Inc., features special guest David Sacks.
The committee that received the funds, Maga Inc., is a Trump-backed super PAC, but the president is constitutionally prohibited from running into a third term. It is unclear how PAC plans to spend the millions of dollars that are raising this spring over a series of dinners.
The Crypto community cheers Sack's growing influence in Washington, believing he and other Trump-placed appointees are already bringing regulatory victories in multiple federal agencies, which many industry executives have described as 180 pivots from President Joe Biden.
The second gala dinner will be held later this month at Trump National, the president's private club in Washington, D.C. The guest list is determined by a blockchain-based contest run by the creator of the $Trump Meme Token. Instead of cash, the entries are based on the number of tokens the user has, with top 220 promised dinners and Trump himself. The contest will be held until May 12th.
An optional black tie, Gala offers a special reception for 25 different owners of the “VIP White House Tour” and Meme Coin. This website hosts an active leaderboard that displays the usernames of the Coin's top buyers.
Accountable.us is a central left watchdog group examining corporate and political influence, describing the leaderboard contest as “the most naked and corrupt self-development plan in the history of the US president,” opening doors that include wealthy donors, including wealthy donors, and enriching the Trump family personally while purchasing access to the president.
Crypto wallets are pseudonyms, so it is difficult to independently verify the identity of the token holders currently leading the contest, unless the holder has published the wallet address.
In January, for example, crypto entrepreneur Justin San rose to stake in another Trump-related crypto project. The founder of Tron Blockchain has revealed that he holds a World Liberty Financial token worth $75 million. A court filed the following month showed that Sun and the Securities and Exchange Commission were investigating a resolution in a regulatory civil fraud case against Crypto entrepreneurs.
The fine print of the $Trump Contest does not guarantee access to the President.
According to the site's terms and conditions, Trump may not be able to attend and the event can be cancelled “for some reason.” In that case, they will get a Trump NFT instead.
Still, the contest has a huge demand for coins, with creator pockets lined up. After the gala was announced, the $Trump Token surged by over 50%, increasing the value of wallet paper controlled by insiders and early supporters.
According to the project's website, approximately 80% of the $Trump Token supply is managed by Trump's organization and affiliates.
Since its launch in January, trading activities have generated more than $324 million insider trading fees, chain analysis found. These charges are generated through a built-in mechanism of tokens that route the percentage of each transaction to a wallet controlled by the project. This is linked to the creator of Coin, according to the website.
However, according to the project's public disclosure, insiders have agreed to delay cashing out of token shares for at least another 90 days.
