The news that TRUMP TRUMP/USD meme coin holders may be eligible for a dinner with the president has sparked a heated debate about the ethics of this marketing campaign. What Happened: One commentator highlighted the possible legal implication for the meme coin, describing it as a hybrid between a political access pass and a high-risk speculative asset. Molly White, a researcher tracking Web3 developments, highlighted a whale who bought $8 million worth of TRUMP tokens, funded from a Binance account, hinting at international involvement.
Someone just spent $8 million on $TRUMP memecoins after the president announced that the top holders would be invited to join him at a private dinner at his DC golf club. The purchases were funded by a Binance account, suggesting the wallet owner is not based in the US. pic.twitter.com/xRivA9z8tO — Molly White (@molly0xFFF) April 24, 2025 One commentator noted that a trader jumped in with a $5 million buy after the dinner news broke, while another prematurely sold 630,000 tokens just before the announcement, forfeiting a potential $4.5 million in profits.
Also Read: Trader Dumps TRUMP Tokens Before Presidential Dinner Revelation: Meal Cost Early Seller $4.5 Million Why It Matters: Launched on Solana in the run-up to the presidential inauguration, TRUMP was originally framed as a collectible, with no promised utility, likely to sidestep securities law. About 80% of its supply remains controlled by insiders, further casting the token as a pure collectable meme coin with no expectation not utility, no cross-over of an investment contract under Howey Test. But that legal grey area may be shifting.
Offering access to real-world, high-value experiences like a private dinner with a presidential candidate may create an "expectation of profit through the efforts of others", one of the key thresholds that defines a security in U.S. law. As Trump's political capital merges with crypto culture, the TRUMP token now functions as a blend of status symbol, speculative vehicle, and political fan badge, raising urgent regulatory and ethical questions. Read Next: Image: Shutterstock
