Trump-Linked TRUMP Token Frenzy Sparks Controversy Amid ’Pay-to-Play’ Allegations

A speculative frenzy surrounds the TRUMP token as investors pour millions into the meme coin, lured by promises of exclusive access to former President Donald Trump. The token surged after an announcement that the top 220 holders would secure invitations to a private dinner—prompting one trader to acquire $5 million worth of tokens at $12.27 apiece. Arkham data reveals another whale purchased $14.5 million in TRUMP, positioning itself as the largest known holder for the event.

The campaign has drawn sharp criticism as a potential ’pay-to-play’ scheme, with Trump directly benefiting from the token’s price appreciation. Meanwhile, a trader missed $4.5 million in unrealized gains after liquidating 630,339 tokens just before the dinner news broke. The episode underscores the volatile intersection of politics and speculative crypto assets.