Trump’s Crypto Dinner Cost VIP Attendees an Average of $4.8 Million

By: bitcoin ethereum news|2025/05/14 09:15:06
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In brief VIPs for the upcoming Trump meme coin dinner held an average of almost $4.8 million in TRUMP tokens to earn their spot. President Trump’s Solana-based meme coin is down nearly 8% on the day. The meme coin team unveiled a new TRUMP rewards program for token holders. The biggest holders of President Trump’s meme coin , who qualified for access to a private reception and dinner with the U.S. leader, held an average of nearly $4.8 million worth of TRUMP apiece to earn their spots via an official leaderboard ranking. Placements were calculated using a time-weighted average of TRUMP holdings between April 23 and May 12, providing a score that was ultimately used to rank registered users. The top 25 finishers were granted “VIP” status, with extra benefits, while an additional 195 token holders gained comparatively limited access. “The First TRUMP Competition is officially over!,” the official Get Trump Memes account posted on X (formerly Twitter), as it outlined next steps for the token and registered participants. The First $TRUMP Competition is officially over! Details and what’s next for $TRUMP Below: If you were in the top 220 on the leaderboard, check the email you signed up with for details on the Dinner with President Trump as soon as possible. There will be background checks that... — TrumpMeme (@GetTrumpMemes) May 12, 2025 VIPs, who are entitled to an exclusive reception with President Trump and a special tour in addition to the dinner at Trump National Golf Club in Washington D.C., carried TRUMP token balances that varied widely from top to bottom. The 25 VIPs held an average of $4.78 million worth of TRUMP apiece at the time of the snapshot, though that value isn’t necessarily what each investor paid for their tokens given the ever-fluctuating market value of the meme coin. The largest holder, registered as “Sun,” held around 1.4 million TRUMP tokens valued at more than $19 million when the snapshot was taken at 1:30pm ET Monday. There’s speculation that the “Sun” account belongs to billionaire Tron founder Justin Sun, who previously purchased $30 million worth of Trump-linked World Liberty Financial’s governance token. While the wallet linked to Sun was connected to crypto exchange HTX , where Sun is on the global advisory board, a spokeswoman for the crypto founder declined to comment when asked by the New York Times . Decrypt sought clarification from a Tron spokesperson, but did not receive a response by the time of publication. The “Sun” wallet held a huge stash of TRUMP at the end of the eligibility window. On the other hand, the last remaining VIP, “Noah,” held zero TRUMP tokens come Monday afternoon. Because of the time-weighted calculation, users were not required to hold their TRUMP tokens until the snapshot, allowing Noah and another user registered as “ Top” to make it through. Top held less than 15 tokens when the window ended. The pair each held at least 200,000 TRUMP tokens during the competition window to earn a time-weighted average high enough to make the cut, but sold their tokens in the last 10 days. Top repurchased 14.52 TRUMP before the snapshot on Monday and maintains the balance, worth around $183 at the time of writing. The TRUMP token first spiked in value when news of the dinner was announced in April, and users rushed to gain access to the token—and potentially earn their spot at the dinner. With the competition concluded, the price of TRUMP is falling, and now is down almost 8% in the last 24 hours to $12.78. But the Get Trump Memes account added more fuel to try and entice holders to cling on to their TRUMP tokens, unveiling a Solana NFT as a reward for all users who maintain their leaderboard balances until the dinner on May 22. Additionally, the account unveiled a new Trump “rewards points” program with its own leaderboard and badges, which are expected to be revealed soon. “The beginning of the Trump rewards points program for TRUMP starts now,” the account posted , alerting followers that the “next era” for the token will be announced at the dinner. The President’s official Solana meme coin and his family’s broader crypto endeavors have drawn increasing scrutiny of late, as lawmakers point to potential conflicts of interest. Watchdog group Accountable.US called the TRUMP token leaderboard “the most nakedly corrupt self-enrichment scheme in U.S. presidential history.” Based on the terms and conditions, each invited guest must complete a background check in order to attend the dinner, and the president’s attendance is not guaranteed. Should the president be unable to attend or the gala is cancelled, then attendees will receive a limited-edition Trump NFT. Edited by Andrew Hayward Daily Debrief Newsletter Start every day with the top news stories right now, plus original features, a podcast, videos and more. Source: https://decrypt.co/319102/trump-crypto-dinner-vip-attendees-4-8-million

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Mixin has launched USTD-margined perpetual contracts, bringing derivative trading into the chat scene.

The privacy-focused crypto wallet Mixin announced today the launch of its U-based perpetual contract (a derivative priced in USDT). Unlike traditional exchanges, Mixin has taken a new approach by "liberating" derivative trading from isolated matching engines and embedding it into the instant messaging environment.


Users can directly open positions within the app with leverage of up to 200x, while sharing positions, discussing strategies, and copy trading within private communities. Trading, social interaction, and asset management are integrated into the same interface.


Simplified Trading Experience: No KYC Required, Opening a Position in Five Steps


Based on its non-custodial architecture, Mixin has eliminated friction from the traditional onboarding process, allowing users to participate in perpetual contract trading without identity verification.


The trading process has been streamlined into five steps:

· Choose the trading asset

· Select long or short

· Input position size and leverage

· Confirm order details

· Confirm and open the position


The interface provides real-time visualization of price, position, and profit and loss (PnL), allowing users to complete trades without switching between multiple modules.


Social-Native Trading: Strategy and Execution Completed in the Same Context


Mixin has directly integrated social features into the derivative trading environment. Users can create private trading communities and interact around real-time positions:

· End-to-end encrypted private groups supporting up to 1024 members

· End-to-end encrypted voice communication

· One-click position sharing

· One-click trade copying


On the execution side, Mixin aggregates liquidity from multiple sources and accesses decentralized protocol and external market liquidity through a unified trading interface.


By combining social interaction with trade execution, Mixin enables users to collaborate, share, and execute trading strategies instantly within the same environment.


Referral Mechanism: Non-institutional users can receive up to 60% fee split


Mixin has also introduced a referral incentive system based on trading behavior:

· Users can join with an invite code

· Up to 60% of trading fees as referral rewards

· Incentive mechanism designed for long-term, sustainable earnings


This model aims to drive user-driven network expansion and organic growth.


Self-Custody Architecture and Built-in Privacy Mechanism


Mixin's derivative transactions are built on top of its existing self-custody wallet infrastructure, with core features including:


· Separation of transaction account and asset storage

· User full control over assets

· Platform does not custody user funds

· Built-in privacy mechanisms to reduce data exposure


The system aims to strike a balance between transaction efficiency, asset security, and privacy protection.


A New Path for On-Chain Derivatives


Against the background of perpetual contracts becoming a mainstream trading tool, Mixin is exploring a different development direction by lowering barriers, enhancing social and privacy attributes.


The platform does not only view transactions as execution actions but positions them as a networked activity: transactions have social attributes, strategies can be shared, and relationships between individuals also become part of the financial system.


Regulatory Background


Mixin's design is based on a user-initiated, user-controlled model. The platform neither custodies assets nor executes transactions on behalf of users.


This model aligns with a statement issued by the U.S. Securities and Exchange Commission (SEC) on April 13, 2026, titled "Staff Statement on Whether Partial User Interface Used in Preparing Cryptocurrency Securities Transactions May Require Broker-Dealer Registration."


The statement indicates that, under the premise where transactions are entirely initiated and controlled by users, non-custodial service providers that offer neutral interfaces may not need to register as broker-dealers or exchanges.


About Mixin


Mixin is a decentralized, self-custodial privacy wallet designed to provide secure and efficient digital asset management services.


Its core capabilities include:

· Aggregation: integrating multi-chain assets and routing between different transaction paths to simplify user operations

· High liquidity access: connecting to various liquidity sources, including decentralized protocols and external markets

· Decentralization: achieving full user control over assets without relying on custodial intermediaries

· Privacy protection: safeguarding assets and data through MPC, CryptoNote, and end-to-end encrypted communication


Mixin has been in operation for over 8 years, supporting over 40 blockchains and more than 10,000 assets, with a global user base exceeding 10 million and an on-chain self-custodied asset scale of over $1 billion.


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