So, the big memecoin contest is over. You know, the one tied to a former President. The project folks said Monday that the competition to get a seat at an exclusive dinner with President Trump has wrapped up. They picked 220 winners. That’s a good number of folks getting a fancy meal, I guess.
- The contest to win a dinner with President Trump, tied to the TRUMP memecoin, has concluded, with 220 winners selected.
- Winners must pass background checks before attending the dinner, adding a layer of scrutiny to the event.
- Those who hold their TRUMP coins after the contest ends will receive a special NFT, incentivizing continued investment.
The project team put it out there on X, the place formerly known as Twitter. They said, “The first TRUMP Competition is officially over.” Pretty direct, right? They told the top 220 people on the list to check their email for details about the dinner. Seems simple enough.
The first TRUMP Competition is officially over.
If you were in the top 220 on the leaderboard, check the email you signed up with for details on the Dinner with President Trump as soon as possible.
There will be background checks that need to be completed before your attendance is confirmed.https://x.com/GetTrumpMemes/status/1922004163980100077
Now, here’s a little wrinkle. They mentioned background checks. Yes, before you can actually sit down and break bread, someone needs to make sure you’re, well, suitable. It makes sense, really. You can’t just let anyone into a presidential dinner, even if they won a contest by holding a lot of a specific digital coin.
This whole memecoin thing, the one called TRUMP, has been quite a ride. It came out in January. It shot up high, hitting $73 at one point. Then it dropped. Fast. As of Monday afternoon, it was trading around $12.63. That’s quite a swing. Like watching a wild baseball game, but with your money on the line.
The idea of winning a dinner with the President by holding a memecoin got some people talking. Not all of it was good talk. Critics had things to say. The dinner is planned for the Trump National Golf Club in Washington, D.C. A nice spot, I imagine.
There’s a little bonus for the winners, too. The project said if you keep the same amount of TRUMP coins you had when the contest ended, you get a special NFT. It’s called a “Trump Diamond Hand limited edition Trump Solana NFT.” They called it “Very Special and Rare.” So, you get dinner maybe, and a digital collectible if you don’t sell your coins right away.
Reuters reported on Monday that people spent a lot of money trying to win this dinner. Around $148 million, they figure. That’s according to data from Inca Digital. Imagine spending that much just for a chance at a meal. It puts a new spin on “dinner and a show,” doesn’t it?
Some data from Chainalysis paints a picture of who made out and who didn’t. They found that 58 digital wallets that bought the coin made over $10 million each. Total gains for those wallets were over $1 billion. That’s a serious chunk of change. But, and this is a big but, 764,000 wallets lost money. That’s a lot of people who didn’t see those big gains. It’s a tough game sometimes, this crypto business.
The company behind the official Trump memecoin is called Fight Fight Fight LLC. A name that sounds like it means business, or maybe just likes a good scrap.
Things got a bit more serious last week. A Senator, Richard Blumenthal, who is a Democrat, sent a letter to Fight Fight Fight LLC. He said they were looking into “potential conflicts of interest and violations of the law” regarding President Trump’s crypto activities. So, while some people are getting ready for dinner, others are asking some pointed questions. It seems the story of this memecoin isn’t quite finished yet.