In short
- Most TRUMP token VIPs have moved their holdings to centralized exchanges, presumably to promote.
- The typical VIP holdings dropped from $4.78 million on the snapshot to $2.11 million as of Friday.
- TRUMP is down greater than 14% someday after the president’s crypto dinner.
Nearly all of TRUMP meme coin holders that earned VIP standing for President Trump’s unique gala dinner held not one of the tokens in these wallets by the point they arrived for dinner at Trump Nationwide Golf Course on Thursday night time.
On-chain information gathered from Solana block explorer Solscan reveals that simply eight of the highest 25 VIPs preserve a stability of the president’s official Solana meme coin the day after the dinner, with the majority of registered addresses having transferred tokens to centralized exchanges simply days after the Might 12 snapshot.
A type of eight wallets belongs to Justin Solar, the Tron community founder who confirmed he held the highest spot on the Get Trump Memes leaderboard days earlier than the occasion. Solar’s pockets, which held 1.43 million TRUMP on the time of the dinner snapshot, nonetheless holds just below 1.4 million TRUMP tokens valued at round $18.8 million.
“As the highest holder of TRUMP and proud supporter of President Trump, it was an honor to attend the Trump Gala Dinner,” Solar posted on X early Friday morning.
The second registered handle on the leaderboard, recognized as being related to layer-1 meme coin blockchain MemeCore, maintains its whole stability from the snapshot on Might 12, however solely three different wallets from the highest 10 have any TRUMP tokens.
The opposite 5 all transferred their balances to addresses labeled by Solscan as centralized exchanges like Coinbase and Binance, with one pockets transferring its TRUMP tokens to an account labeled because the Wintermute scorching pockets.
Whereas VIPs as soon as held a mean round $4.78 million value of TRUMP tokens, the group’s common holdings now stand at roughly $2.11 million—buoyed largely by the practically $37.3 million in mixed holdings from the highest two holders.
By transferring or promoting their tokens, the VIPs with out balances will miss out on a restricted version “diamond hand” NFT, solely earned by sustaining their leaderboard balances up till the dinner.
Some VIPs’ willingness to half with their tokens proper after the dinner snapshot might lend credence to the argument from lawmakers and different critics that their investments have been purely a “pay-for-play” tactic to get near the president.
Fears of international affect and crypto corruption on account of the dinner led to protests on the occasion, plus the introduction of a invoice that may preserve the president from making the most of crypto ventures.
Even earlier than the occasion, Democratic Senators sought an ethics probe over the dinner, citing “extreme danger that President Trump and different officers could also be partaking in ‘pay-to-play’ corruption by promoting presidential entry.”
TRUMP is down greater than 14% within the final 24 hours to $13.22, practically 82% off its January all-time excessive.
Edited by Andrew Hayward
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