Donald Trump | Image: Laura Normand / The Verge
President Donald Trump recently announced that he would host a private dinner for the top 220 biggest holders of $TRUMP, the meme coin he launched days prior to taking office - and several U.S. Senators would like to know exactly why he’s doing this.
The dinner was publicly advertised on the $TRUMP coin homepage this past Wednesday, and included a special VIP package for the top 25 holders: a private reception with Trump, and a VIP tour of the White House the next day. According to the site, the winners will be determined by how much of the coin a contestant owns, as well as how long they hold it between April 23rd and May 12. “The more $TRUMP you hold - and the longer you hold it - the higher Your Ranking will be,” it said.
At its peak, a $TRUMP token went for $75.35 on January 19th, the day before his inauguration. It has plummeted ever since, losing 88 percent of its value, and sat at $9.18 before the contest was announced. The promotion caused $TRUMP to jump by more than 50 percent, according to CBS, hitting a peak of $14.32 that afternoon and bringing in an extra $100 million in value.
Democrat Senators were outraged, with Sen. Chris Murphy (D-CT) posting on X that thi …
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How is this obvious laundering legal?
It’s not, but the whole modus operandi of this administration is enforcing only the laws they find convenient and/or profitable and ignoring the rest, so it’s just one more thing to throw on the big pile of unpunished violations.
I do wonder if anything can even be done about it at this stage. People are protesting, which is admirable, but I’m not sure if protests alone are enough… Still, fingers crossed for all same people in the US, how you guys pull through, I really do!
I am not sure if protest is enough, and I am concerned that anything beyond that is intended. Giving them an excuse to go fully fascist by calling Posse Comitatus or martial law.
