The creators of President Donald Trump’s meme coin announced that its top 220 buyers would join him for dinner at his private golf club outside Washington. Members of the Singapore-based crypto collective MemeCore quickly amassed $18 million worth of the coin, securing a seat at Trump’s dinner party and contributing millions in crypto transaction fees. A co-founder, known only by the crypto nickname ‘Ice,’ is expected to attend with hopes of influencing Trump’s views on their industry.
The gala dinner at the Trump National Golf Club will bring together wealthy crypto players from around the world. Some attendees hope to influence Trump’s views on crypto regulation or capitalize on presidential access. The identities of most coin holders remain unknown, with many using untraceable wallets. Organizers have stated that no cameras or journalists will be allowed in the room.
At least six major holders of the Trump meme coin have emerged publicly. Concerns have been raised about foreign investors, with roughly half of the top 220 meme coin holders possibly being foreign buyers. GD Culture Group, a technology firm with a Chinese subsidiary, announced it would buy Trump coins as part of a $300 million stock deal.
The project is run by an affiliate of the Trump Organization and Fight Fight Fight, which together own 80 percent of the 1 billion coins. Since the gala was announced, crypto wallets linked to Trump and his partners have earned about $3 million in transaction fees. Despite the coin’s value plunging from its January peak, the Trump team continues to benefit from fees attached to transactions.
All dinner invitees must undergo a background check before attending, and the event may be canceled for any reason. If Trump doesn’t attend, coin holders will receive a Trump non-fungible token (NFT). Attendees who didn’t sell their coins before the dinner will also receive a limited-edition ‘Trump Diamond Hand’ NFT.
Some coin holders, like Sheldon Xia, founder of BitMart, have claimed they are on the guest list. ZielonoMi, a crypto trader, expressed surprise at gaining access to such an event. Ogle, another attendee, dismissed criticism of the dinner, stating that political figures often solicit money in exchange for access.
Ogle, known for his work in recovering stolen crypto funds, plans to attend out of curiosity about who else will be there. He hopes for the presence of a dignitary or a sheikh. Despite his cypherpunk ideology, Ogle enjoys the perks of crypto wealth and elite access.
— new from The Washington Post