The team behind Donald Trump’s memecoin is once again hosting a conference for its top holders, marking a trend in these exclusive gatherings. Scheduled for April 25 at Mar-a-Lago, this second Trump coin conference aims to attract attendees despite the novelty beginning to fade. This year, the entry bar has notably lowered; while the previous event required minimum holdings of $55,000 in TRUMP coins, recent data indicates that some invitees are entering with as little as $8,460 in tokens.
The allocation of tickets to the conference and associated luncheon largely hinges on the coin holdings of attendees, with sales of TRUMP-branded merchandise contributing to the token leaderboard, complicating the complete financial picture of each attendee.
Currently, the upcoming event hasn’t significantly boosted the memecoin’s plummeting value. The price of TRUMP was around $14.67 during the last gathering but has since fallen to $2.87. Notable figures from the cryptocurrency realm, including Tether CEO Paolo Ardoino and Ark Invest CEO Cathie Wood, are expected to attend, leading to speculation about a “major announcement” to be revealed at the conference.
However, not everyone associated with Trump’s crypto ventures is set to join. Justin Sun, a prominent entrepreneur in the sector whose wallet holds approximately $5.3 million in TRUMP post the first dinner, is embroiled in legal troubles. Sun recently filed a lawsuit against World Liberty Financial, the platform backing the coin, citing fraud and severe misconduct.
Meanwhile, the conference has drawn scrutiny from political figures in Washington. Senators Elizabeth Warren, Adam Schiff, and Richard Blumenthal recently sent a letter to Bill Zanker, Trump’s partner regarding the memecoin, critiquing the event as an instance of using the presidency for personal gain. They requested detailed answers regarding the conference and its link to the memecoin by April 22, though no responses have yet been disclosed.
Although Donald Trump is advertised as a potential attendee, the fine print on the conference website suggests his presence is not guaranteed. Reports indicate that he might choose to participate in the White House Correspondents’ Association Dinner instead, leading to a contingency plan for the event’s organizers. If Trump is unable to attend, attendees might receive a “limited edition TRUMP NFT” as a consolation prize, or the conference could be rescheduled.
