Trump’s meme coin is down 80% since his first event promoting it. He’s holding another gala for it this weekend.
Exclusive promotional events won’t ‘reverse the long-term downward trend,’ one analyst says
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President Donald Trump is slated to host another private event for top holders of his meme coin, but the grand functions aren’t sending the $TRUMP digital token to new highs — and the ethical concerns aren’t going away.
Meme coins, a type of cryptocurrency based on internet memes or celebrities, tend to have no economic use but still can be lucrative for insiders and some traders. The Trump meme coin has been a big decliner since its launch in January 2025 just before Inauguration Day, although savvy traders may have made money by selling its short-lived rallies.
The Trump coin TRUMPUSD +2.94% on Thursday was trading down 96% from its intraday record high of $72.62, which came on Jan. 19, 2025. It’s off by 80% from its closing level on May 22, when Trump hosted his first private event for the crypto’s top holders.
The latest event — billed as a conference and gala luncheon with Trump as the keynote speaker — is scheduled to take place Saturday at the president’s Mar-a-Lago resort in Florida. It’s open to the top 297 holders of Trump’s meme coin, and the top 29 holders will also get access to a “VIP reception” featuring the president, according to a website promoting the event.
Some big names expected at the event are venture capitalist Tim Draper, motivational speaker Tony Robbins, boxer Mike Tyson and fund manager Cathie Wood. The event’s organizers have indicated some awareness of possible ethical concerns: The fine print on the website promoting it says that attendees “cannot be currently in litigation” with the U.S. government and that no attendees “will be granted a private meeting” with Trump.
David Krause, a finance professor emeritus at Marquette University, published an analysis last month of the Trump meme coin and warned of risks for retail investors.
“Two exclusive promotional events offering access to the president created temporary price increases but did not reverse the long-term downward trend,” Krause wrote, referring to the price rallies that came as each event was announced.
“With approximately 80% of the token supply controlled by Trump-affiliated entities and over $324 million in trading fees accruing to insiders, the token raises significant questions about the alignment of promotional activities with retail investor protection,” Krause added. “As political meme coins continue to emerge, the TRUMP token may serve as a cautionary case for the risks of speculative assets tied to political figures.”
A left-leaning watchdog group, Citizens for Responsibility and Ethics in Washington, also expressed concerns.
“This weekend will provide a prime example of the level of corruption and profiteering that no other president would have even dreamt of engaging in, but Trump is comfortable doing so openly,” CREW said on Tuesday.
The Trump White House didn’t immediately respond to a request for comment, but it previously has defended the president’s meme-coin venture, saying last year that he “only acts in the best interests of the American public.”
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