Trump offers private dinner to the top investors in his meme coin

Washington
CNN
 — 

The value of President Donald Trump’s meme coin soared Wednesday after a website promoting it announced that some holders of the coin would receive an invitation to a private dinner with Trump – in a stark illustration of his family’s drive to profit off cryptocurrency while he serves in the White House.

The official website of $TRUMP coin promised an “unforgettable Gala DINNER with the President” on May 22 at his members-only club outside Washington to the top 220 holders of the meme coin. The top 25 holders are promised additional perks: an “exclusive reception” with Trump before the dinner and a “Special VIP Tour” the following day.

As of Thursday morning, the website didn’t specify where the tour would occur. But an earlier version of the site, archived Wednesday by the Wayback Machine, called it a “Special VIP White House Tour.”

The offer is the latest move by Trump and his relatives in the crypto business. Trump and his wife each launched meme coins on the eve of his inauguration. Other ventures include a crypto exchange, World Liberty Financial.

The Trump administration has taken a pro-crypto stance, easing up on Biden-era regulation of the industry and establishing a bitcoin reserve.

On Wednesday, as news of the dinner offer spread, the $TRUMP coin’s value soared by more than 50%, according to CoinMarketCap.

The White House press office did not immediately respond to CNN inquiries about the $TRUMP dinner offer, but a White House spokeswoman told Reuters that because Trump’s assets are in a trust managed by his children, there was no conflict of interest.

Many Trump aides said they weren’t aware of the dinner before it was announced on the promotional website, and said it hadn’t been widely circulated among the team.

CNN’s Alejandra Jaramillo and Kevin Liptak contributed to this report.