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Trump crypto soars after promise to host VIP events for top investors

  • By Al Mayadeen English
  • Source: News websites
  • 24 Apr 2025 12:34
4 Min Read

The rise comes amid new crypto regulation efforts and Strategic Bitcoin Reserve plans.

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  • Donald Trump speaks at the Bitcoin 2024 Conference July 27, 2024, in Nashville, Tenn. (AP Photo/Mark Humphrey)Donald Trump speaks at the Bitcoin 2024 Conference, July 27, 2024, in Nashville, Tenn. (AP)

The price of the $Trump cryptocurrency has soared after US President Donald Trump announced two exclusive events for its top investors, driving renewed interest in his digital asset ventures.

The official website for the $Trump meme coin, now out of service, revealed that the top 220 holders will receive an invitation to a private gala dinner with President Trump on May 22, calling it the "most EXCLUSIVE INVITATION in the world." Additionally, the top 25 investors will gain access to an "ultra-exclusive private VIP reception with the President," scheduled to be held at the Trump National Golf Club in Washington, DC.

Following this announcement, $Trump surged by more than 70%, according to the cryptocurrency trading platform Coinbase. Despite this sharp rise, the coin remains below its all-time high of over $74 (£42.40), reached shortly after $Trump coin was launched in January.

Currently, Trump tokens in circulation are valued at approximately $2.5 billion. The digital currency was launched just days before Trump's inauguration on January 20 and is among several cryptocurrency-related initiatives linked to Trump, who has referred to himself as the "crypto president".

As a meme coin, a digital token with no real-world value, it began trading at $0.1824 on Saturday, January 18. By the following Sunday at 06:00 GMT, the price had soared to $36.6, reaching a fully diluted market capitalization of $36 billion, with trading volume exceeding $14 billion, according to Dexscreener.

Meme coins, such as $Trump, are often speculative in nature, allowing traders to profit or express support for celebrities and cultural moments.

Crypto regulation

Shortly after his return to the White House, Trump signed an executive order establishing a presidential working group focused on developing new crypto regulation laws. This move signals the administration's intent to formalize oversight in the growing digital asset sector.

As part of these efforts, Trump also approved the creation of a Strategic Bitcoin Reserve and a Digital Asset Stockpile. These reserves will include various digital currencies, funded by coins forfeited to the federal government through criminal or civil proceedings.

A digital asset reserve enhances market confidence by backing digital currencies with tangible value and supporting liquidity. In general, currency reserves benefit economic stability by enabling a country to manage exchange rate fluctuations, meet international payment obligations, and bolster investor confidence during financial uncertainty.

Trump’s administration policies and the March 7 inaugural crypto summit represent a stark contrast to the Biden administration's tougher regulatory stance following the collapse of the FTX digital-asset exchange and other scandals.

Despite the enthusiasm from supporters, the launch and promotion of $Trump have faced criticism from several figures within the crypto industry, some of whom have described it as "a stunt". Additionally, First Lady Melania Trump launched her own cryptocurrency on the eve of the inauguration, adding to the family's expanding digital asset presence.

Expanding digital assets

In a related financial development, Trump's media company, Trump Media & Technology Group, announced plans to introduce exchange-traded funds (ETFs). These ETFs will include a mix of digital assets and stocks, with a strong emphasis on a "Made in America focus."

The ETFs will be developed in partnership with firms aligned with Trump's business interests and will also support the growth of his Truth Social Platform. This expansion into ETFs is expected to further integrate Trump's media and financial ventures into the broader US economy.

  • TrumpCoin
  • $TRUMP
  • Strategic Bitcoin Reserve
  • ETFs
  • Cryptocurrency
  • Crypto President
  • Meme Coin
  • Donald Trump

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