Source: BBC News [UK State Media]
“US President Donald Trump will host top purchasers of the cryptocurrency that bears his name at a gala dinner on Thursday. $TRUMP was launched shortly before his inauguration in January, initially rocketing in value before falling sharply shortly afterwards. ‘It’s fundamentally corrupt — a way to buy access to the President,’ Democrat senator Chris Murphy wrote on X, one of a number of people to question the ethics of the event. Some have also suggested the expected attendance of many foreign investors poses a threat to national security. But the White House has batted away such allegations, saying Trump is only motivated by public service. $TRUMP is what is known as a meme coin – a type of cryptocurrency inspired by internet memes or viral online trends. Its price peaked at $75 in January before plummeting to less than $8 in April – it was trading at around $12.50 at the time of writing.” (05/22/25)