Trump Token Surges 20% After Exclusive Dinner Invitation Announced

An exclusive dinner with Donald Trump has been promoted as the "most EXCLUSIVE INVITATION in the World," with the event being open only to the top 220 holders of the TRUMP token. To secure a spot, individuals would need to purchase approximately $380,000 worth of TRUMP tokens, according to Solscan. However, the actual cost could be lower as some of the top holders are exchanges or individuals who may not wish to undergo Know Your Customer (KYC) procedures. The Secret Service will require names rather than just wallet addresses for security purposes.

The event is not only limited to the dinner; the top 25 holders of TRUMP tokens are also invited to an "Exclusive Reception" and a special VIP tour. The 25th-largest holder currently holds about $5 million worth of TRUMP tokens. The market seems to be efficiently pricing these invitations, with the top 25 invitation being valued at 13 times the cost of the top 220 invitation, despite having 11 times fewer people. This pricing strategy suggests a high level of exclusivity and value associated with the event.

The organizers have set the eligibility date for the dinner on May 12, when a snapshot of token holdings will be taken. The average holdings during this period will determine the ranking, making it necessary for aspiring attendees to purchase TRUMP tokens well in excess of the minimum to guarantee their invite. The final cost of the dinner will depend on how much the TRUMP token's value drops after the eligibility date, similar to how a stock might drop after paying a dividend.

The announcement of the dinner has already caused a 20% increase in the price of the TRUMP token. It is expected that future invitations will also impact the token's price, and it is unlikely that the token will give back all of its gains on May 12. If the token gives back 10% of its gains, the real cost of an exclusive dinner with the president would be around $40,000.

The website promoting the dinner has raised questions about its legitimacy, but the FAQs section confirms its authenticity. The target audience for the dinner appears to be individuals with significant financial resources who are attracted to the entertainment value, bragging rights, or simple fandom associated with the event. However, there is also a possibility that some attendees may be seeking to buy influence with the president.

The website's design and language suggest that it is intended for entertainment purposes only and does not promise any additional benefits, such as pardons for federal crimes. This raises the question of why individuals would be willing to risk $380,000 for the chance to attend the dinner. The answer could be benign, such as entertainment value or fandom, or it could be more sinister, such as buying influence with the president.

The Trump family has extracted approximately $1 billion from the crypto industry, although this is only a partial accounting and does not include all big-ticket items. The crypto industry's financialization and tradeability command attention far in excess of its market value, creating opportunities for both legitimate ventures and grifting. The dinner with the president is an example of how crypto can be used to create exclusive and valuable experiences, but it also raises questions about the potential for misuse and exploitation.