- Trump coin group sold 20 million dollars worth of tokens to exchanges, raising eyebrows ahead of Trump’s dinner for leading holders on May 22, 2025.
- Democratic Senators call for investigation into dinner, as coin price jumped 100 million dollars, with price at 13.95 dollars, a 70 percent gain.
- Futures interest fell 8 percent and derivatives volume decreased 13 percent, indicating bearish signals even after recent coin price hike.
The Trump coin group sold close to 20 million dollars’ worth of tokens to exchanges such as Binance, OKX, and Bybit on April 29, which raised concerns within the crypto market.
This took place shortly before a dinner that President Donald Trump organized for leading coin holders, scheduled to take place on May 22, 2025.
Democratic Senators Elizabeth Warren and Adam Schiff have called for an investigation into the dinner, stating that it may be a pay to play scheme since the value of the Trump coin rose by around 100 million dollars following the announcement
Trump Coin Team Sells Before Dinner
The Trump coin team sent 700,000 tokens for 10.21 million dollars to Binance, 350,000 tokens to OKX, and 296,000 tokens to Bybit, Lookonchain reports.
This increased the token supply on exchanges, which may result in selling activity and impact the Trump coin price.
The dinner, for the 220 best investors at Trump’s Washington club, has raised doubts, with some thinking figures such as TRON founder Justin Sun may show up.
Trump Dinner Event Under Regulatory Review
Despite the sell off, Trump coin value moved to 13.95 dollars, up by 70 percent over the previous week, driven by the excitement for dinner.
Yet market indications are unclear. Open interest in futures fell 8 percent to 734 million dollars and derivatives volume fell 13 percent to 2.70 billion dollars, pointing to declining activity.
Technical analysis also indicated bearish trends for the Trump coin for three months, notwithstanding the recent uptrend. Investors are wary, weighing the excitement of the dinner against the token dump risk and the ongoing investigation.
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