Trump's $TRUMP Token Project Delays Insider Sales by 90 Days

President Donald Trump will have to wait a bit longer before he can begin selling his cryptocurrency tokens.

The $TRUMP token project announced a 90-day delay for insider sales that were set to begin this month amid growing controversy over the token’s connection to presidential access and ethics concerns.

Major Unlocks Postponed

The project announced the delay for all major unlocks, which were due to begin in August with the release of 25% of the total token supply. Currently, only 20% of the $TRUMP tokens are available for trading, while the remaining 80% are held by insiders and locked under a three-year vesting schedule.

The token, which launched in January ahead of Trump’s inauguration, was also scheduled to begin unlocking a major portion of the insider-held tokens.

This development follows a week of heightened attention on the Trump family's cryptocurrency endeavors. The $TRUMP token shot up more than 50% this week after announcing an exclusive dinner with President Trump.

The project's website offered the top 220 holders of the $TRUMP token the chance to have dinner with the president on May 22 at his golf club near Washington, D.C.

This dinner promotion has drawn criticism from Democratic lawmakers.

Senators Elizabeth Warren of Massachusetts and Adam Schiff of California called on the U.S. Office of Government Ethics to investigate whether the promotion constitutes “pay to play” corruption.

In their letter to the ethics office, the senators expressed concern that this arrangement could allow foreign nationals and corporate actors with interests in federal action to gain access to the president simply by investing in his crypto projects.

Senator Jon Ossoff joined Warren and Schiff in criticizing the president’s actions.

"President Trump is openly selling access to himself and the White House to the highest bidders in a blatant attempt to enrich himself and his family at the expense of the American people," Ossoff said in a statement.

"This brazen corruption demands immediate attention and action. President Trump should be impeached for this gross abuse of power."

The senators questioned whether Trump or his family had received any ethics guidance about profiting from digital assets while in office. They also asked what safeguards exist to prevent individuals seeking political favors from using crypto investments to buy influence.

"We are writing to request information about the legal and ethical implications of federal officials profiting from cryptocurrency investments, particularly in light of recent reports concerning former President Trump and his family members," the senators wrote in their letter to the OGE.

"Specifically, we are interested in learning more about the administration's guidance on profiting personally from crypto assets while in office and what measures are in place to prevent the abuse of such investments for political gain."

The senators' concerns were further heightened by reports that the Trump family is involved in another large-scale crypto venture.

World Liberty Financial, a decentralized finance venture backed by the first family, has reportedly raised $550 million across two token sales since October.

Buyers of the tokens are barred from reselling them and receive no share of profits, while a Trump-affiliated entity is entitled to 75% of net revenue, including token sale proceeds from both tranches, according to a report by Blockworks.

The $TRUMP token is currently trading at around $14, having dropped nearly 6% in the last seven days, according to market data. The token's market cap had previously surged to $15 billion, fueled by Trump's social media posts celebrating "WINNING!"

The exclusive dinner for token holders will take place at Trump National Golf Club, with strict security measures including background checks and wallet compliance verifications. As the event approaches, the debate over presidential ethics and cryptocurrency continues to escalate in Washington.