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It all started a few days back when President Trump, already facing unfavorable optics for his penchant of leveraging the value accorded to the US Presidency to boost personal commercial ventures, announced expansive meet-and-greet plans for the of the $TRUMP meme coin.
As per the details revealed by President Trump at the time, the top holders of the $TRUMP meme coin would be able to enjoy a private dinner with him at his golf course, situated at the outskirts of the nation's capital, replete with a private reception for the top 25 holders of the coin. The plans did not end here, however. These 220 individuals would also have the opportunity to partake of a private tour of the White House the next day.
Unsurprisingly, TRON's Justin Sun sits right at the top of the leadership board for the holders of the $TRUMP coin.
A tiny Chinese company owned by same people that own TikTok just bought $300,000,000 of Coin.
Now why do you think they did that?
🧐👀
— Spencer Hakimian (@SpencerHakimian)
This effort has also attracted interest from foreign entities, including a little-known Chinese company that has $0 in revenue and just , yet seems to be in the process of raising the capital to acquire 300 million $TRUMP coins.
Trump's dinner contest has attracted a few enterprising spirits as well, including Morten Christensen and his four friends, who managed to win an invitation to Trump's dinner for just $1,200 each when, ordinarily, it would have cost each individual at least in time-weighed acquisitions over the 2 weeks or so that the contest ran for, as per Bloomberg's calculations.
lol, hold long in public wallet
short in same size elsewhere
spend $1,200 total; eat dinner with the president
— Mike Dudas (@mdudas)
So, how did Christensen and his friends achieve this feat? Well, they apparently held a long position on the $TRUMP coin in a public wallet and an undisclosed short position off-the-book, leaving just $1,200 in individual transaction costs.
Of course, the vast majority of the Trump dinner aspirants adopted the conventional route by acquiring bucket loads of the $TRUMP coin. As per a tabulation by CBS News, the $TRUMP meme coin attracted at least in buying activity over the contest's period.
For the benefit of those who might not be aware, the $TRUMP meme coin's only claim to utility lies in bringing together like-minded traders and investors to foster a community premised on Trump's star power.
At its launch back in January 2025, 100 million $TRUMP coins were put up for sale to the public, while another 100 million coins were used to fund a liquidity pool. Over the next three years, however, the coin's total supply will grow to 1 billion tokens. Do note that this unreleased supply is currently being held by an affiliate of the Trump Organization, CIC Digital LLC, in conjunction with a Delaware-based company, Fight Fight Fight LLC. As such, these two Trump-linked entities derive transactional revenues from the sale and purchase of $TRUMP coins.
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