The Trump family has turned a meme coin associated with the former president into a lucrative venture, raking in more than $320 million in fees since its launch. By promoting a dinner event open to top coin holders, which includes a reception with Trump himself, the family is leveraging the coin for both financial gain and access to the president. The meme coin operates on a decentralized exchange, allowing for seamless trading with minimal fees charged on each transaction.

Despite the financial success of the meme coin, Trump downplays his profits, claiming he does not closely monitor the coin’s price fluctuations and rejecting the notion that he is profiting from his presidency. The aggressive promotion of the dinner event includes incentives such as Trump-themed watches for top coin holders, adding to the buzz around the initiative. However, concerns have been raised about the pseudonymous nature of cryptocurrency transactions, potentially allowing undisclosed individuals to influence the president through purchasing his digital assets.

A recent closed-door fundraiser hosted by Trump, featuring a hefty price tag for attendees, underscores the blend of politics and cryptocurrency in his endeavors. The lack of transparency regarding the guests at these events raises questions about the potential influence of meme coin holders on the president. Despite the controversy surrounding Trump’s foray into meme coins, the initiative continues to generate interest and engagement among supporters.