Nearly $150 million invested in the $TRUMP crypto meme... for a meal with the president!
A contest
Nearly $150 million was reportedly spent by participants in a contest where entrants had to buy some of the infamous meme coins featuring Trump for a chance to win a meal with him.
Major contributors
However, not all participants were given the same opportunity: only the 220 highest contributors to the contest were awarded a place at a gala event in Washington D.C., which Donald Trump was due to attend.
The top 25
And among these 220 largest donors, the top 25 was to be treated to a dinner at an "ultra-exclusive VIP reception" in the presence of the President, as well as a "special VIP tour".
Three days before
It's worth noting that the $TRUMP coin was launched on January 17, 2025, just three days before Donald Trump was sworn in as the 47th President of the United States.
Strong criticism
The launch quickly came under heavy criticism, not only for its timing, but above all for the possible ethical implications it raised.
A few hours
$TRUMP meme currencies soared to $75 a few hours after Trump's announcement on his inauguration weekend... before dropping to less than $8.
Losses totaling $3.9 billion
The $TRUMP is currently trading around $14, but since its launch in January, nearly 600,000 wallets have accumulated losses totaling $3.9 billion, according to Inca data, also reported by CTV News.
So, who's making money out of all this?