Trump is falling apart, facing problems due to his MEMECOIN🪙‼️📢
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- Senators Warren and Schiff alert about possible risks of corruption and political influence buying through anonymous cryptocurrencies.
• The TRUMP token rose from $12 to over $15, boosting its market capitalization to over $3 billion following the event announcement.
🗓️Last Friday, Senators Elizabeth Warren (D-MA) and Adam Schiff (D-CA) formally requested the U.S. Office of Government Ethics to investigate the private dinner that former President Donald Trump has organized for the main investors of his meme cryptocurrency, TRUMP, built on the Solana blockchain. The central concern: possible ethical violations, corruption risks due to “pay for access,” and potential foreign interference through anonymous investments in digital assets.
The event in question promises an exclusive dinner on May 22 at the Trump National Golf Club for the 220 largest registered holders of the token. Additionally, the top 25 investors will enjoy a VIP reception with the former president. Since the announcement, the token's price has experienced a meteoric rise, going from approximately $13 to $16, representing a 24% increase in less than a week. The market capitalization of the asset skyrocketed from $1.6 billion to just over $3 billion, reflecting a growth of 87.5%. However, the rally was not completely linear. Following the announcement, the TRUMP token recorded a 14% drop so far, a volatility that, while expected in the memecoin market, also fuels the argument that this type of asset lends itself to high magnitude speculative maneuvers and systemic risk.