TRUMP Meme

TRUMP Meme Coin team refutes rumors of a "300,000 USD dinner participation threshold."

ChainCatcher news, according to Cointelegraph, the Meme coin team of U.S. President Trump has denied rumors circulating on social media that official TRUMP token holders need at least $300,000 to attend an upcoming dinner with Trump.The rumor originated from community members citing information from the Solana blockchain explorer that displayed the token contract address holders. As of the time of writing, the explorer shows that the 220th holder possesses 33,114 TRUMP tokens, valued at over $400,000. However, the Meme coin team stated that the explorer does not reflect their standards.The team wrote in a statement: "People mistakenly took the data of the 220th holder on the blockchain explorer as a qualification line, which is inaccurate. This data includes locked tokens, exchange holdings, market maker holdings, and holdings of users who did not participate in the activity. Actual participation eligibility should be based on the official leaderboard."According to information from the Meme coin official website, the team will select winners based on "time-weighted holdings," a metric that takes into account both the number of tokens held and the duration of holding.Additionally, Trump's Meme coin team clarified that the rumor about "unlocking a large number of tokens" for this competition is also untrue. They stated that currently, user "Sun" is in the lead with 1,176,803 TRUMP (worth about $14 million), while the user in 220th place, "HAR," holds only 35.3 TRUMP (worth about $420).

Financial Times: Trump profits at least $350 million by launching TRUMP meme coin

ChainCatcher news, according to the Financial Times, Trump's cryptocurrency project has made at least $350 million by launching the $TRUMP meme coin. The media's analysis of blockchain data shows that within three weeks of the $TRUMP launch in January this year, the project operating entity generated this revenue by selling tokens, including $314 million from token sales and $36 million in fees. In addition to the $350 million earned from directly selling $TRUMP on Solana, Trump may have also gained more revenue by selling small amounts of tokens on cryptocurrency exchanges like Binance.The project website Gettrumpmemes.com states that "CIC Digital LLC, a subsidiary of the Trump Organization, and Delaware company Fight Fight Fight LLC jointly own 80% of the tokens." Although the product has received official endorsement from the president, the project is operated by Fight Fight Fight, "and is not distributed or sold by Trump himself, the Trump Organization, or any of their respective affiliates or executives."Investors and ethics experts say that selling cryptocurrency tokens effectively provides a way to funnel anonymous donations to the president while also exploiting retail investors. Tim Massad, a part-time law professor at Georgetown University Law School and former chairman of the U.S. Commodity Futures Trading Commission, stated, "The President of the United States should not be doing this kind of profit-making from his position while in office; it's a very bad example."
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