Trump Coin Jumps After President Offers Gala Dinner, VIP Reception To Top Token Holders

The Official Trump Coin (TRUMP) surged in U.S. pre-market hours to $14.69 after the President announced plans to host two special events for its top investors.

The announcement briefly fueled a rally, but the token later retreated to around $12, though it remains up more than 30% over the past 24 hours, according to CoinGecko.

The TRUMP coin is one of the many entities launched in affiliation with Trump after he positioned himself as the "crypto president" following his election victory.

Despite the recent uptick, the coin remains over 80% below its January peak of $73.43.

According to the official website, the 220 largest holders of the token will be invited to a private gala dinner with Trump on May 22 at the Trump National Golf Club in Washington, D.C. The top 25 holders will gain access to an additional VIP reception, hosted by the President, and a private tour, described by organizers as “ultra-exclusive.”

Eligibility is based on the average coin balance held between April 23 and May 12, as noted on the site. The invitation describes the event as the “most EXCLUSIVE INVITATION in the world,” with black-tie attire optional.

Senior officials in Trump’s administration told The Wall Street Journal they were initially unaware of the dinner. One official, after confirming it was on the calendar, described the event as “an outside business engagement” that Trump still plans to attend.

Trump has previously hosted high-dollar donor dinners at his Mar-a-Lago estate, but the TRUMP coin gala would be a departure, directly benefiting entities linked to the coin’s performance. 

Chainalysis estimates that ventures affiliated with Trump have already generated hundreds of millions in crypto profits.

The TRUMP token’s market capitalization currently stands at about $2.5 billion. The coin has gained 7% over the past month and is up 60% in the past week.

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