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Lawmakers Investigating $Trump Meme Coin for Pay-to-Play Influence Peddling
https://needtoknow.news/2025/05/lawmakers-investigating-trump-meme-coin-for-pay-to-play-influence-peddling/

President Trump introduced his meme coin in January ahead of his inauguration and it soared to $15 billion, but lost most of its value.  He announced that the top 220 holders of his meme coins are invited to join him for dinner on May 22nd, and the top 25 holders will get a VIP White House tour. Interest in the coin spiked more than 50%. The top buyers are from foreign exchanges.

Lawmakers are now formally investigating whether the $TRUMP meme coin — and a related crypto venture called World Liberty Financial, which sends 75% of revenue to the Trump family — constitute a direct conflict of interest for the president.

58 wallets have made over $10 million each from President Donald Trump's meme coin, totaling $1.1 billion in profits while 764,000 wallets of mostly small holders have lost money on $TRUMP.

https://www.youtube.com/watch?v=LkcF3_k13fc

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58 crypto wallets have made millions on Trump's meme coin. 764,000 have lost money, data shows

- 58 wallets have made over $10 million each from President Donald Trump's meme coin, totaling $1.1 billion in profits, blockchain analytics firm Chainalysis said.

- 764,000 wallets of mostly small holders have lost money on $TRUMP, according to the firm.

- The $TRUMP event, set for May 22 at Trump National Golf Club, Washington, D.C., includes a reception for the 25 wallets with the largest balance, along with a White House tour.

About 764,000 wallets that purchased President Donald Trump's $TRUMP meme coin have lost money on the investment, according to fresh data shared with CNBC by blockchain analytics firm Chainalysis.

Most of the wallets that lost money held smaller amounts of the token, according to the firm's on-chain analysis. Crypto wallets are accounts that store the keys you need to access and use your cryptocurrency holdings.

Chainalysis said that while around 2 million wallets have bought into the token, 58 wallets made more than $10 million apiece, totaling roughly $1.1 billion in gains.

The $TRUMP token, which surged in popularity after being tied to the start of Trump's second term, has seen sharp price swings and highly uneven returns for investors. Fight Fight Fight LLC. and CIC Digital LLC., control the bulk of the token's supply.

CNBC has reached out to Fight Fight Fight LLC. for comment on the Chainalysis numbers.