U.S. President Donald Trump Will Invite the Top 220 Holders of the Meme Coin "Official Trump"

U.S. President Donald Trump will invite the top 220 holders of the meme coin "Official Trump" named after him to Washington, D.C., for a private dinner.

U.S. President Donald Trump will invite the top 220 holders of the meme coin "Official Trump" named after him to Washington D.C. for a private dinner.

According to the official Trump Mimcoin website "Get Trump Mims Dotcom," the dinner will be held on the 22nd (local time) at the Virginia golf course owned by President Trump.

The invitation to dinner was selected based on the amount of meme coins held from the 23rd of last month to the 12th of this month. The total amount of meme coins they hold amounts to 147,586,796 dollars (about 210 billion won).

The "SUN" wallet, which holds the most coins, holds about $18.5 million (W26.1 billion) worth of meme coins and has been confirmed to be owned by HTX, a Seychelles-based cryptocurrency exchange.

The figure is suspected to be the founder of Justin Sun Tron. Justin Sun is a big player in the virtual asset industry, which invested about $75 million in the Trump family-led digital asset platform "World Liberty Financial (WLF)" last year.

An anonymous wallet named "ces," which ranked 220th, is worth $59,000 (about 83 million won).

According to Fortune's analysis, 18 out of the top 25 traded on Binance, an overseas exchange excluding Americans, and it is highly likely that they are non-U.S. nationals.

President Trump directly mentioned on his social media (SNS) that it was "the most special and limited invitation in the world."

In particular, the top 25 investors will be able to attend a welcoming event with President Trump before the dinner and a VIP tour of the White House.

The official website has been criticized for revealing the rankings of 220 people in real time, and for inducing more buying.

The controversial official Trump was released three days before Trump's inauguration in January.

The meme coin, which soared to $75 immediately after its publication, once plunged to $7.5 and recovered to the $14 level after the dinner event was announced.

It is trading in the $13 range based on CoinGecko on the 13th and has a market capitalization of $2.615 billion.

President Trump does not seem to mind, but he is being criticized for using public office to acquire private interests.

Democratic Senator John Ossoff pointed out that "selling in exchange for access to the presidency could be a reason for impeachment."

Already, the Democratic U.S. congressman is pressing the Trump family in February by proposing the Modern Profit and Corruption Prevention Act, a bill that would ban the issuance and sponsorship of meme coins by the president, senior officials and his family.

The New York Times (NYT) pointed out, "Every time the price of coins goes up, President Trump makes a profit on the books."

The NYT added that Trump's commission income since the launch of MemeCoin is estimated to be more than $100 million (about 141.3 billion won).