donald trump: Donald Trump’s Crypto plan: Here’s how the US president will be raising millions in May by hosting 2 dinners
Two crypto-focused events in May
On Monday, May 5, the ‘Crypto & AI Innovators Dinner’ is being hosted by MAGA Inc., where the fundraiser is having a whopping $1.5 million-per-plate — making it one of the priciest in recent times, NBC News reported.
This event will feature David Sacks as the special guest, while working towards helping out the Trump administration rewrite the crypto and AI rules.
MAGA Inc., the super PAC that backs Donald Trump, is the committee that will receive the funds. As of now, it remains unclear how it plans to spend these millions of dollars that are being raised through the series of dinners, since Trump is currently in his second term and cannot seek a third term.
Also Read : Why is Trent Alexander-Arnold leaving Liverpool and planning to join Real Madrid?Amid Sacks’ rising influence in the country, the crypto community has praised and credited him along with other appointees, who are allies of Trump, for their sweeping policy shift that has led to several regulatory changes across various federal agencies.Post Monday’s event, the second event is scheduled for May 22 and will provide access to the US President’s inner circle, especially the ones who hold the $TRUMP token, the NBC News report stated.
This dinner will be hosted at Trump National, which is his private club in Washington, D.C. Running through May 12, the guest list for this event will be decided via the blockchain-based contest, which is being run by the $TRUMP meme token creators.
Entry will be provided depending upon how many tokens a person holds, with a compulsory dinner with the US President for the top 220 people.
Among all, the 25 biggest holders of $TRUMP will be provided a special ‘VIP White House Tour’, which is accompanied by a reception.
An active leaderboard runs on the official website where people can watch the names of the top buyers of the meme coin.
Donald Trump faces criticism for the $TRUMP event
Ahead of the May 22 event, Trump is already being slammed by a few organisations, including Accountable.US.
The watchdog group, known for probing political as well as corporate influence, has termed this contest as the “most nakedly corrupt self-enrichment scheme in US presidential history”.
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It claims that such type of events provides access to wealthy donors to meet the president, besides evenly enriching Trump and his family on a personal basis.
With crypto wallets being pseudonymous, it becomes next to impossible to get independent confirmation regarding the people who are top token holders. This can be possible only when the holder openly discloses the wallet address.
FAQs
Who controls the supply of $TRUMP?
Nearly 80 per cent of it is taken care of by the Trump Organization along with its affiliates, the project’s official website states.
How much has $TRUMP fared in recent times?
It has witnessed a jump of over 50 per cent ever since the event was announced. Chainalysis states that over $324 million in trading fees for insiders was generated after its launch in January this year.
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