Today’s edition of the weekly recap covers President Donald Trump’s planned dinner with top TRUMP token holders, Strategy’s continued Bitcoin acquisitions, and the new SEC chair’s pro-cryptocurrency stance.

Trump plans dinner with top meme coin holdersPresident Donald Trump intends to host an “intimate private dinner” on May 22 at Trump National Golf Club near Washington for the top 220 holders of TRUMP 

Official Trump

trump3.32%Official Trump. The top 25 coin holders will receive additional privileges, including a pre-dinner reception with the President and a White House tour.Organizers of the $TRUMP Gala Dinner have stated in a legal disclaimer that they may cancel or reschedule the event at their discretion. If Trump cannot attend or the event is canceled for any reason, qualified token holders may receive a limited-edition TRUMP NFT instead.Democrats argue that the dinner is an impeachable offense since Trump is essentially “granting audiences to people” who buy his meme coin, which directly enriches the Trump family.New SEC chair criticizes previous leadersRecently sworn-in SEC Chair Paul Atkins delivered his first full address Friday and criticized the agency’s previous approach under former Chair Gary Gensler and the Biden administration. He stated that “innovation has unfortunately been stifled… due to market and regulatory uncertainty.”This is a common argument among crypto bulls. Gensler, during his tenure, felt that crypto didn’t need new rules — that most tokens were already unregistered securities, and existing law just needed to be enforced. Also, the crypto industry is plagued by scams and frequent collapses (i.e., FTX, Terra/Luna, Celsius, etc.). Retail investors lost billions of dollars.