- TRUMP coin contest ends with NFTs and a loyalty program, but scrutiny over top holders intensifies.
- Foreign-linked wallets and shifting prize language spark legal and political concerns around the memecoin’s intent.
The gala dinner contest wrapped up with a flourish – NFT rewards, flashy announcements, and announcements of a loyalty program aimed at turning casual holders into diehard evangelists.
But all that glitters isn’t quite gold.
From eyebrow-raising perks to allegations of foreign investor winners gaming the system, here’s what’s really going on beneath the surface.
The contest is over, but the game’s just begun
The TRUMP coin dinner contest has officially ended, with the top 220 holders now awaiting exclusive access to a high-profile gala dinner.
All participants received NFTs, but the real twist lies in what comes next. A special “Diamond Hand” NFT will be awarded to those who don’t sell their TRUMP tokens before the event on the 22nd of May.
This a clear move to discourage sell-offs and inflate perceived market strength.
Source: X
In a post-contest announcement, organizers teased the “Next Era of TRUMP” alongside a new Trump rewards points program, stating:
“DIAMOND HAND Holders will also give you more TRUMP REWARDS POINTS!”
The market seems to have responded – TRUMP has gained nearly 50% over the past month, driven largely by these speculative incentives.
Who’s really holding TRUMP?
The top coin holders are raising eyebrows – not just for the size of their bags, but for their global connections.
Leading the pack is “Sun,” a wallet holding $16.6 million in TRUMP, allegedly linked to a foreign crypto exchange advised by Chinese billionaire Justin Sun. He recently shared a stage with Eric Trump in Dubai and is a key investor in World Liberty Financial, another Trump-linked crypto venture.
The second-largest holder, “MeCo,” tied to Singapore-based MemeCore, openly solicited tokens to climb the leaderboard. While rules favored time-weighted holdings, at least 17 of the top 220 wallets held zero TRUMP as of Monday.
Legal gray zones and political red flags
As Official Trump’s [TRUMP] ecosystem grows, scrutiny intensifies.
The dinner contest’s fine print now distances the event from the White House, naming Fight Fight Fight LLC as the organizer and listing President Donald Trump only as a “guest.”
Meanwhile, concerns rise over top holders with foreign ties and possible political motives, sparking debates on pay-to-play optics and regulatory evasion.
Critics argue the rewards system may verge on market manipulation, while others see the SEC’s quiet retreat from prosecuting major investors as a troubling signal.
At what point does a memecoin cross into political impropriety—or something more concerning?