Since the Trump team announced that top purchasers of the $TRUMP meme coin could join President Donald Trump for an ‘intimate private dinner,’ millions of dollars have flowed into the project. The Washington Post found that holders of 27 crypto wallets acquired more than 100,000 $TRUMP coins each, worth approximately a million dollars per wallet since the announcement. The largest buyer acquired 2 million coins valued at about $24 million.\n\nThe price of the coin surged over 30%, reaching about $12, which increased the value of crypto wallets owned by a digital firm linked to the Trump Organization by roughly $100 million. The team behind the coin also earns fees when it is bought or traded, accumulating $1.25 million in fees over the past week. Critics argue this setup creates a ‘pay-to-play’ scenario, where access to the president is sold to wealthy investors.\n\nThe meme coin project is managed by a Trump Organization affiliate and Fight Fight Fight, a Delaware-registered company. Since its launch days before Trump’s inauguration, the coin has generated about $41 million in fees and $312 million in sales. Only the top 220 coin holders will be invited to the gala dinner, with the top 25 also receiving a White House tour and a VIP reception with Trump. However, the event may be canceled for any reason, and if Trump cannot attend, holders might receive a limited-edition Trump NFT instead.\n— new from The Washington Post