In a significant downturn for the $TRUMP meme coin, recent reports indicate that the price of admission for a VIP event featuring President Donald Trump has plummeted dramatically compared to last year. The top 297 holders of the $TRUMP cryptocurrency have been invited to a “Crypto and Business Conference” at Trump’s Mar-a-Lago estate this weekend. This event is set to include notable speakers such as boxer Mike Tyson and motivational author Tony Robbins, according to the conference’s promotional materials.
A detailed analysis from the Financial Times points out that the cost to attend the exclusive VIP reception with Trump has dropped by more than 80% from 2022. This year, those who purchased VIP tickets to the gathering reported a median investment of $539,000 in $TRUMP, a stark decrease from the $3.28 million median from last year. This substantial drop in value raises concerns about the waning interest in the meme coin among traders.
President Trump is scheduled to address attendees at the conference on Saturday, after which he plans to return to Washington, D.C., to attend the White House Correspondents’ Association Dinner. Notably, a White House official characterized the gathering as a personal event for Trump, attended in a private capacity.
In an effort to understand the implications of this conference, three Senate Democrats sent a letter earlier in the month to Bill Zanker, the organizer from Fight Fight Fight LLC. They requested clarity regarding Trump’s involvement in planning, promoting, and potentially profiting from the event. The lawmakers emphasized the necessity for Congress to comprehend how Trump and his family might be benefiting from his cryptocurrency interests.
A White House representative defended Trump, stating, “President Trump only acts in the best interests of the American public – which is why they overwhelmingly re-elected him to this office, despite years of lies and false accusations against him and his businesses from the fake news media.” The Independent has reached out to the event’s organizers for further comment.
The $TRUMP meme coin was launched just before Trump’s anticipated inauguration in January 2025. Initially, it saw a surge in value, briefly exceeding $44, but has since experienced significant fluctuations and declines. Trump previously participated in a high-profile gala event for top investors at his Virginia golf club last May, which temporarily boosted the coin’s value. However, it has since dropped, even dipping below $3 in recent weeks according to reports.
Moreover, the Trump family’s involvement in cryptocurrency extends beyond the $TRUMP coin; they are also connected to World Liberty Financial, a company that has come under scrutiny due to fraud allegations by billionaire Justin Sun. Sun filed a lawsuit against the company earlier this week, claiming it is on the brink of collapse. In response, World Liberty co-founder Zach Witkoff described Sun’s allegations as “entirely meritless.” Witkoff co-founded the company alongside members of Trump’s family, including Donald Trump Jr. and Eric Trump, further entangling them in the ongoing scrutiny of cryptocurrency ventures.
