Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
Editorials & Other Articles
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Raw Story: 'Burned along the way': Trump cost meme coin dinner guests millions in losses
Raw Story - 'Burned along the way': Trump cost meme coin dinner guests millions in losses
Jennifer Bowers Bahney
May 22, 2025 4:40PM ET
President Donald Trump is hosting a dinner at his private gold club near Washington, D.C., Thursday night for the top holders of his $TRUMP meme coin, but a report in The Guardian says nearly half of his "winners" have lost millions on the cryptocurrency.
According to last month's announcement, the top 220 holders in a $TRUMP meme coin competition would win a ticket to a gala at the Trump National golf club. The top 25 holders would also get the chance to meet the president at a “Private VIP Reception” before the dinner, and the very top four would win a limited edition Trump Tourbillon watch that sells for $100,000.
The Guardian reported that the announcement "caused the coin to spike more than 50%."
But after analyzing crypto wallets on the Solana blockchain, The Guardian found that many investors "have been burned along the way."
"Of the 220 winners, 95 – some 43% – have suffered a net loss from purchasing $Trump since the coin’s January launch, a combined $8.95m, according to trading history and portfolios as of 21 May," the report noted.
/snip
Jennifer Bowers Bahney
May 22, 2025 4:40PM ET
President Donald Trump is hosting a dinner at his private gold club near Washington, D.C., Thursday night for the top holders of his $TRUMP meme coin, but a report in The Guardian says nearly half of his "winners" have lost millions on the cryptocurrency.
According to last month's announcement, the top 220 holders in a $TRUMP meme coin competition would win a ticket to a gala at the Trump National golf club. The top 25 holders would also get the chance to meet the president at a “Private VIP Reception” before the dinner, and the very top four would win a limited edition Trump Tourbillon watch that sells for $100,000.
The Guardian reported that the announcement "caused the coin to spike more than 50%."
But after analyzing crypto wallets on the Solana blockchain, The Guardian found that many investors "have been burned along the way."
"Of the 220 winners, 95 – some 43% – have suffered a net loss from purchasing $Trump since the coin’s January launch, a combined $8.95m, according to trading history and portfolios as of 21 May," the report noted.
/snip