Trump’s $Trump Cryptocurrency Value Jumps After Exclusive Dinner Announcement

Donald Trump’s cryptocurrency, $Trump, experienced a 70% surge in value after the president announced two exclusive dinner events for its top holders. The events will take place at the Trump National Golf Club, with significant criticism from the crypto community regarding the promotion. The digital currency, valued at $2.5 billion, is part of a broader Trump-linked crypto initiative, including new regulatory efforts for digital currencies.

The value of Donald Trump’s cryptocurrency, known as $Trump, surged significantly following his announcement to host private dinners for major holders. The top 220 investors will be invited to an exclusive gala dinner on 22 May, touted as an “EXCLUSIVE INVITATION in the world”. Following this news, $Trump’s price increased by over 70% according to Coinbase, though it still trails its January peak of more than $74 (£42.40).

$Trump is part of a range of crypto initiatives connected to Trump, who has branded himself as the “crypto president”. In addition to the gala, there will be an ultra-exclusive reception for the 25 biggest coin holders. Currently, $Trump tokens in circulation are valued at approximately $2.5 billion, first introduced just prior to Trump’s inauguration on 20 January.

The announcement has drawn criticism from some within the crypto sector, some labelling it a mere “stunt”. Additionally, First Lady Melania Trump had previously launched her own cryptocurrency on the eve of the inauguration. Meme coins like $Trump are frequently utilized by speculators for profit or as a means for fans to express their support for celebrities or online moments.

Upon returning to the White House this year, Trump initiated an executive order to form a presidential working group aimed at developing new regulations for cryptocurrency. He has also ordered the establishment of a Strategic Bitcoin Reserve and a Digital Asset Stockpile, which will encompass various cryptocurrencies, funded by coins forfeited during legal proceedings.