"Top Trump Coin Investors Earn Dinner with Trump and Increase Profits"

# Cryptocurrency Investors Reap Millions from Trump Coin Event as Prices Plummet Post-Sale Investors involved in a cryptocurrency competition centered around the meme coin 'Trump Coin' ($TRUMP) secured substantial financial gains while also winning exclusive dinner invitations with former U.S. President Donald Trump, reported the Financial Times (FT) on October 17. However, following the event, a massive token selloff led to a steep price drop. # Event Overview and Sudden Price Surge The competition, which kicked off on September 23, rewarded participants who held the highest quantities of Trump Coin in publicly disclosed wallets over a set period. The top 25 investors were granted invitations to Trump's elite events, including the "Trump Gala Dinner," a private reception, and VIP tours, all scheduled for October 22 at the Trump National Golf Club in Virginia. Following the event's announcement, Trump Coin's price skyrocketed from $9.26 to $15.33. # Post-Event Selloff Sparks Price Decline After the list of dinner attendees was confirmed on October 12, a significant selloff ensued. Many participants either transferred their tokens to external wallets or sold their holdings. According to FT, 16 of the 25 wallets linked to VIP dinner attendees no longer held any Trump Coin as of the event’s conclusion. Additionally, 22 of these wallets reportedly started accumulating large quantities of the token only after the competition's announcement, enabling them to secure substantial profits. One wallet owner, identified as "Woo," bought one million Trump Coins and sold them immediately post-event, earning an estimated $2.6 million (approximately KRW 3.6 billion) in profit. # Massive Losses for Some Investors Not all participants fared well. A wallet identified as “SUN,” reportedly tied to Justin Sun, founder of cryptocurrency company Tron, emerged as a major loser. Industry analyses show that SUN purchased 800,000 Trump Coins at a peak price of $61.13 per coin. With Trump Coin's current trading value at $12.96, the account faces an unrealized loss of about $66 million (KRW 92.4 billion). Justin Sun, known for his ventures in cryptocurrency, previously invested $75 million in World Liberty Financial, a cryptocurrency firm linked to the Trump family. In March 2023, he also faced fraud allegations from the U.S. Securities and Exchange Commission (SEC). # Additional Participants and Outcomes Apart from the 25 VIP attendees, another 195 individuals received gala dinner invitations. Of these, 56 have fully liquidated their Trump Coin holdings post-event. The dramatic price swings and selloff associated with the Trump Coin event highlight ongoing volatility and speculative behavior in cryptocurrency markets, underscoring the financial and reputational risks tied to high-profile crypto assets.