Top TRUMP Memecoin Holders Identify Ahead of Trump Dinner

The top holders of the TRUMP memecoin have been identified ahead of a scheduled dinner and "VIP tour" with the US president on May 22. The TRUMP memecoin project announced on May 12 that it would no longer consider additional purchases for the dinner, and the top token holders had been notified to apply for background checks if they wished to attend. According to the project’s leaderboard, the top 220 wallets held more than 13.7 million tokens, valued at approximately $174 million at the time of the announcement.

It remains uncertain whether any of the wallet holders will apply for and attend the dinner with Trump, or the "exclusive reception" expected to be held in the White House for the top 25 holders. There are potential security concerns and conflicts of interest, as a previous report suggested that the majority of token holders are based outside of the United States.

Many US lawmakers and figures in the crypto industry have criticized the president for launching the memecoin just days before taking office on Jan. 20. Following the dinner announcement on April 23, calls for congressional oversight and allegations of corruption have intensified. One senator has called for Trump’s impeachment, and other representatives have refused to consider crypto-related legislation until their concerns are addressed.

Companies seeking influence over Trump’s policies have also invested in the memecoin. In April, Freight Technologies announced a $20 million investment in the token, suggesting it could affect the president’s trade policies between the US and Mexico, where the firm conducts some of its business. As of May 12, the company had not announced whether it qualified to send a representative to the dinner.

This is not the first time Trump has appealed to crypto users. During his 2024 campaign, he hosted a dinner with supporters who purchased his “mugshot” non-fungible tokens, featuring a picture of the then-presidential candidate at his surrender to authorities on charges he attempted to overturn the 2020 election. Many attendees publicly shared their identities on social media, but at the time of publication, no one had claimed they would apply for the memecoin dinner. Wallets with the usernames “Sun” and “elon” have led to speculation that Tron founder Justin Sun and Tesla CEO Elon Musk, both Trump supporters with financial interests tied to his presidency, could be among the attendees.

The accumulation of $174 million in tokens by top whales ahead of the dinner with the US president is a strategic maneuver that could have far-reaching implications for the TRUMP token ecosystem. This move not only demonstrates the whales' confidence in the project but also positions them to capitalize on any potential opportunities that may arise from the high-profile meeting. The event serves as a reminder of the evolving landscape of digital assets and their growing influence in the broader financial and political arenas.