Results of the Official Meme Coin $TRUMP Competition Announced
The official meme coin $TRUMP competition organized by President Trump has concluded, and the top 220 holders will be invited to a private dinner in Washington, D.C., with the opportunity to receive a rare NFT as a reward. However, this crypto event has also sparked external concerns regarding potential conflicts of interest and legal risks. The organizing team seems to be cautious about scrutiny and will conduct background checks on the selected participants.
Trump Coin Competition Ends, Dinner Guest List Revealed
The first major event, the “Dinner Competition,” held by Trump based on his own meme coin has officially come to a close. The official Twitter account announced last night that the top 220 participants will be invited to a private dinner at Trump’s National Golf Club in Washington, D.C.
The First $TRUMP Competition is officially over! Details and what’s next for $TRUMP Below: If you were in the top 220 on the leaderboard, check the email you signed up with for details on the Dinner with President Trump as soon as possible. There will be background checks that… — TrumpMeme (@GetTrumpMemes) May 12, 2025
The organizers stated: “The first TRUMP competition has officially concluded. If you are in the top 220, please check your registered email immediately.” To ensure the safety of the event, all invitees must pass background checks to confirm their attendance.
(How much does it cost to have a meal at Trump’s place? The TRUMP team clarifies that the dinner threshold is extremely low, not $300,000!)
In addition to the dinner invitation, the organizers also announced an additional reward: Anyone holding the same amount of TRUMP on the day of the dinner as the snapshot date will receive a limited edition “Trump Diamond Hand” Solana NFT. The officials emphasized that this NFT is “very rare and collectible,” and is believed to encourage investors to be a TRUMP “diamond hand” to maintain token stability.
Spending $148 Million for a “Political Entry Ticket”?
According to Reuters, citing data from Inca Digital, participants invested approximately $148 million to purchase TRUMP tokens for a chance to dine with Trump. These “dinner-for-coin” events have seemingly become high-risk speculative endeavors, with the cost of issuing the coin ultimately flowing back into Trump’s pockets.
(Trump’s two crypto dinners in May: Tickets priced at $1.5 million faced bribery criticism, Trump retaliates against lawmakers for stock trading behavior)
Chainalysis data further reveals that 58 wallet accounts profited over $10 million, accumulating total profits of $1 billion; however, up to 764,000 wallets have fallen into losses, indicating the extremely high investment risks of this competition.
Democratic Lawmakers Launch Investigation, Questioning Potential Legal Risks
Despite the event’s allure, Trump’s crypto venture faces increasing political and legal challenges. Last week, Senate Democrats led by Richard Blumenthal sent a letter to the coin merchant Fight Fight Fight LLC, announcing a formal investigation into the Trump meme coin. The letter pointed out that Trump’s activities in the crypto field may involve conflicts of interest and illegal risks, demanding an explanation of project operations and funding flows from the company.
Senator Warren and Congressman Adam Schiff similarly criticized in a joint letter, stating that Trump’s actions are tantamount to exchanging political power for private business investments, representing a blatant transfer of interests: This is akin to a disguised sale of presidential-level hospitality rights.
The Intersection of Politics and Cryptocurrency: Trump Thrives
From the dinner competition to NFT rewards and the scrutiny from the U.S. Senate, the TRUMP meme coin is no longer just an alternative investment on the blockchain but represents a new front in Trump’s political and financial strategies. Although the event has attracted significant attention and funding, the accompanying legal risks and market concerns cast a shadow over this presidential-level fundraising spectacle.
Risk Warning
Investing in cryptocurrencies carries a high risk; their prices can be highly volatile, and you may lose your entire principal. Please assess the risks carefully.