The U.S. President Donald Trump has offered the top 220 of $TRUMP coin holders a black-tie dinner at his golf club near Washington, D.C., followed by a White House tour. While the top 25 would get a private reception with Trump himself.
Many are raising concerns because the crypto contest has attracted major foreign investors, potentially allowing non-U.S. individuals to buy access to the U.S. president.
An analysis by Bloomberg found that 19 of the top 25 wallets are likely owned by people outside the U.S. The top wallet appears to belong to Justin Sun, a crypto billionaire from Hong Kong who founded the company Tron. He has invested heavily in Trump’s crypto projects and owns about $18.6 million worth of $TRUMP, with $4.5 million of that purchased after the dinner was announced. He is also facing an SEC case, which was recently paused.
Another known participant is an Australian crypto founder, Ogle, a cybersecurity expert tied to Trump’s earlier crypto projects. Ogle owns over $3 million in $TRUMP and defended the contest online, calling critics “jealous” of those who understand crypto.
Many of the top accounts are anonymous, using names like Booblino, Smooth Operator, and GiantBabyCorn. It remains unclear whether they will attend the event on May 22.
Meanwhile, many regular investors lost money. The coin hit $74 earlier this year but now trades around $13. Some accounts that no longer hold $TRUMP still appear on the leaderboard due to a system glitch.
