tl;dr
The top holders of President Trump’s meme coin, TRUMP, qualified for access to a private reception and dinner with Trump by holding an average of nearly $4.8 million worth of tokens between April 23 and May 12, based on a time-weighted average leaderboard ranking. The top 25 holders earned VIP statu...
Top holders of President Trump’s TRUMP meme coin qualified for a private dinner and reception with Trump by holding an average of nearly $4.8 million worth of tokens each, based on a time-weighted leaderboard ranking between April 23 and May 12. The top 25 holders earned VIP status, granting exclusive benefits, while an additional 195 holders received limited access.
The largest holder, registered as “Sun,” owned approximately 1.4 million TRUMP tokens valued at over $19 million at the snapshot time. Speculation suggests this account belongs to billionaire Tron founder Justin Sun. Interestingly, some VIPs qualified despite selling their tokens before the snapshot due to the time-weighted average calculation, allowing holders like “Noah” and “Top” to secure spots with zero or minimal tokens at snapshot time.
The TRUMP token spiked in value upon the dinner announcement but has since dropped nearly 8% to around $12.78. To encourage holders to maintain their positions until the dinner scheduled for May 22, organizers introduced a Solana NFT reward and announced a new Trump rewards points program featuring its own leaderboard and badges, promising fresh incentives in the "next era" for the token.
Attendance to the exclusive event at Trump National Golf Club requires completion of background checks, and President Trump’s presence is not guaranteed. If the event is cancelled or the president cannot attend, invited guests will receive a limited-edition Trump NFT as compensation.
Despite the hype, the TRUMP token and its related activities have faced considerable criticism, with watchdog groups deeming the leaderboard system and token promotion as a blatant self-enrichment scheme and raising concerns about conflicts of interest linked to the President and his family’s crypto dealings.