President Donald Trump’s meme coin surged more than 60% in one day last week, after an announcement of “the most EXCLUSIVE INVITATION in the world,” where the top 220 purchasers of $TRUMP were offered a private dinner with the president.
I never dreamed that my thorough knowledge of the meme coin industry, coupled with being able to quickly sell my Mickey Mantle Rookie card and my wife’s VW bug, would allow me to buy enough Trump coin to win.
But, as of today, I’m ranked #219 in $TRUMP coin holdings, and based upon an official-looking website that only crashed my browser twice, I have received “the most EXCLUSIVE INVITATION in the world.”
I am psyched and plan to take Monday off to shop for a MAGA suit and an extra-long tie. My journey into the Crypto world began with a total lack of understanding the value of buying currency that isn’t currency, and the typical American dream of making a fortune quickly, without working.
If I lose it all, Mrs. Mac and I may never be able to retire, but at least I have my golden ticket and a digital Trump coin.
I’m told that dinner will be held at the Trump National Golf Club in Washington, D.C., and that attendees are responsible for all of their own expenses. Are those deductible?
After the $TRUMP coin’s launch, prior to the January 20 inauguration, its market value reached almost $75 before dropping to a low of $7.14 on April 7. The “dinner offer” caused the value to spike, to about $15.
But regardless of the value, a Crypto analytics firm, Chainalysis, noted that the coin had generated more than $350 million in fees, all proceeds going to entities associated with the President. So, we know it’s profitable for somebody.
After spurning Crypto in earlier takes, Trump now commits to being America’s first “crypto president,” while simultaneously directing his administration to scale back crypto enforcement and ease the industry’s regulations. Melania has her own coin now, too, which she rolled out at about the same time as the President’s coin. P.T. Barnum wasn’t wrong.
Reenforcing that Donald Trump’s business interests remain intimately entwined with his presidency, administration officials told The Wall Street Journal that they were unaware of these dinner plans. White House crypto advisor, David Sacks, confirmed that he was not involved with the event.
The Trump family’s new push into crypto, while the President works to reduce oversight, has fueled concerns about conflicts of interest and influence peddling.
Trump’s reward dinner for his largest investors, is “a race to the bottom for presidential grifting,” said Tony Carrk, executive director of Accountable.US, a nonpartisan government ethics watchdog group.
“There has never been a clearer case of a president using their office to put money in their pocket, or greater potential for special interests to buy an administration’s favor that could threaten the public interest,” Carrk said.
Anna Kelly, the White House deputy press secretary, said: “President Trump’s assets are in a trust managed by his children. There are no conflicts of interest.” OK, that works for me; when do we eat?
Whoops… Hold on a second. I just noticed a clause in the fine print, buried among the disclaimers about investment volatility and “assorted legal entanglements,” that reads: “President Trump may not be able to attend.” If that happens, diners will receive a limited-edition TRUMP NFT “in lieu thereof.”
Wow!! An NFT? Really? I love NFTs. I hope I get the Cowboy one, with Trump in chaps and a Stetson? That’s probably worth more than Mickey’s rookie card.
Curt MacRae, a resident of Coldwater, MI, publishes regular opinion columns…
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