• Trump's memecoin price surged nearly 70% following the announcement of a dinner for top holders.
• The exclusive dinner is scheduled for May 22 at Trump National Golf Club.
• Top 220 holders of the $TRUMP coin are invited, with the top 25 receiving VIP treatment.
• The promotion raises ethical concerns due to potential conflicts of interest.
• Investors must hold and retain their coins to qualify for the dinner, creating a leaderboard ranking.

President Donald Trump's $TRUMP memecoin experienced a significant price surge of nearly 70% after the announcement that the top 220 holders of the cryptocurrency would be invited to a private dinner with him on May 22. The event will be held at Trump National Golf Club in Virginia, described as "the most EXCLUSIVE INVITATION in the World" on the coin's official website. Following the announcement, the price rose to approximately $15.47 before settling at around $12.15 the next day, highlighting the immediate effect of the promotional event on the market value of the token, according to indiatimes, The Hill, NY Times, and Forbes.

The dinner, open only to those who can maintain the highest average balance of the $TRUMP token from April 23 to May 12, promises participants a chance to hear directly from Trump about "the Future of Crypto." Additionally, the top 25 holders will be granted access to an "ultra-exclusive private VIP reception" and a special tour following the dinner. This promotional strategy emphasizes the competitive nature of owning $TRUMP coins, where participants are urged to accumulate as many tokens as possible to improve their leaderboard ranking, as noted by CBS News and HuffPost.

Despite the excitement this announcement has generated among investors, it has also raised ethical concerns regarding Trump's personal business interests and potential conflicts of interest. Critics, including lawmakers and ethics watchdogs, have described the dinner as a blatant example of "presidential grifting," suggesting it commodifies access to the president in a manner that could threaten the integrity of public service. Reports indicated that the Trump Organization, which owns 80% of the $TRUMP token, could benefit financially from this event, highlighting the intertwined nature of Trump's business ventures and his presidential role, as emphasized by Channel News Asia and BBC.

Upon its initial launch in January 2025, $TRUMP quickly gained popularity, peaking at over $75 before experiencing significant declines. Presently, the memecoin's market cap hovers around $2.5 billion. Criticism has been directed at Trump's dual role as a business figure and a government official, especially following his previous condemnation of cryptocurrencies. However, despite apparent volatility, Trump's administration has pushed regulatory changes favorable to the crypto industry, according to India Times and Forbes.