President Donald Trump's new foray into the world of cryptocurrency is proving to be more than a fluke.

President Donald Trump's new foray into the world of cryptocurrency is proving to be more than a fluke. His meme coin, which he launched earlier this year, has already raked in more than $320 million in trading fees

President Donald Trump's new foray into the world of cryptocurrency is proving to be more than a fluke. His meme coin, which he launched earlier this year, has already raked in more than $320 million in trading fees, Chainalysis data shows. The creators of the coin are now using it to provide premium access to Trump himself such as a dinner at his Washington-area golf club.

Following the contest rules made available on the website of the meme coin, the first 220 holders of the coin are to be invited for dinner with Trump on the 22nd of May. The first 25 will receive extra access to a private reception with the president.

The proposition has caused coin prices and volumes to skyrocket. The value of the coin soared from $9 to $14 following the announcement of dinner before stabilizing around $11.

Even though it was created on a type of digital money that has historically been of no inherent value, Trump's meme coin has been designed to generate recurring revenue via decentralized exchange mechanisms. When the coin went live, its creators which include CIC Digital, which is part of the Trump Organization launched 20% of a total of 1 billion coins they had in development. Half was sold to the public, and the remainder was put into a liquidity pool. The activity in this pool creates tiny transaction fees that have become a consistent source of revenue.

Experts say profitability in this case is not based on the long-term price of the coin. Rather, the developers earn money from large volumes of trades, meaning more fees. "It’s a matter of ongoing motion: The more volume there is, that means more trades and therefore more fees for you," explained Nicolai Søndergaard of blockchain analytics firm Nansen.

Within a week of the dinner announcement, creators made more than $1.3 million in trading fees, reaffirming the way Trump's brand influence continues to drive financial opportunities, even in unorthodox markets such as crypto.

The project also introduces a contentious element to Trump's marriage of personal finance and politics. While Trump is barred by an ethics deal from making day-to-day decisions at the Trump Organization while he is president, the other 80% of the supply of the meme coin has already been distributed to entities associated with him. Critics, such as Democratic lawmakers, are concerned about the anonymity of crypto transactions, which might enable foreign or unscrupulous actors to purchase influence through coin purchases.

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The Trump meme coin site says that registrants for the contest are required to give full legal names and contact information, but this information will not be made public. Instead, a leaderboard of usernames records holdings both the quantity held and the duration held. The leaderboard encourages additional purchases by prompting those close to the cutoff to FIGHT FIGHT FIGHT for your $TRUMP dinner.

Marketing for the event has been in-your-face. The official account for the meme coin on X promised a bonus seat at dinner to the winner of the best Trump-themed meme, stating that entries would be displayed directly to the president. The top four coin holders will also get $100,000 Trump-branded luxury watches.

Trump hosted a different high-end fundraiser called the “Crypto & AI Innovators Dinner” at his golf club on Monday evening, which was sponsored by MAGA Inc., his political action committee. People were requested to donate $1.5 million per head. Though contributions to super PACs ultimately are disclosed, meme coin purchases are not disclosed, raising even more ethical questions.

Trump, in an interview last week, denied benefitting directly from the presidency via crypto or other ventures, rejecting calls that he should forgo profits earned while in office. He likened the notion to being punished for long-standing real estate investments that appreciate as a result of his public service.

Whether or not the public ever discovers who attends the meme coin dinner is unknown. But for the moment, Trump's newest cryptocurrency endeavor is translating crypto fervor into political clout and hard currency.