President Donald Trump is set to host two crypto-focused fundraising events this month. The first, a $1.5 million-per-plate dinner, is one of the most expensive ticketed dinners in presidential history. The second event, on May 22, offers access to Trump’s inner circle for holders of the $TRUMP token. The guest list for the second gala will be determined by a blockchain-based contest, with the top 220 token holders promised dinner with Trump. The contest runs until May 12. Critics, including the watchdog group Accountable.US, have described the contest as a corrupt scheme allowing wealthy donors to buy access to the president. Despite this, the contest has significantly increased demand for the $TRUMP coin, enriching its creators. Roughly 80% of the $TRUMP token supply is controlled by the Trump Organization and affiliates, generating over $324 million in trading fees since its launch in January.
— new from CNBC
