Invitation and Coin Surge
President Donald Trump's invitation to the top 220 $TRUMP meme coin holders for a private dinner led to a significant surge in the cryptocurrency's value, with a rise of over 50% on the day of the announcement.
The event, scheduled for May 22 at Trump National Golf Club, promises an exclusive experience with Trump, including a VIP reception for the top 25 holders and a special tour.
Criticism and Regulatory Concerns
Critics argue that the promotion could lead to conflicts of interest and influence peddling, with concerns about the president using his office for personal gain.
The SEC warned about the speculative nature and volatility of meme coins, emphasizing that purchasers are not protected by federal securities laws.