Donald Trump’s Dinner Plans Spark Token Dump Frenzy and Congressional Inquiry

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Ah, the wonderful world of cryptocurrency—where memes are minted and fortunes are dumped with all the subtlety of a bulldozer on roller skates. Enter the latest spectacle: TRUMP coin. It’s been dancing in the spotlight recently, catching the eye of investors eager to snap up some of the meme-based magic. Why, you ask? Well, because Donald Trump has invited a select group of top holders to dinner. Nothing says “trustworthy investment” quite like a private dinner with a former reality TV star turned political icon. 🍽️🍔

But wait, what’s this? A suspiciously timed mass dumping spree of tokens worth a whopping $20 million? Why, it seems the folks behind TRUMP coin have been offloading their digital assets faster than you can say “get rich quick,” raising more than just a few eyebrows in the crypto market. Oh, and did I mention there’s a congressional inquiry into this whole affair? Because why not throw a little political drama into the mix? 🍿

The Great Token Dump: $20 Million to the Crypto Exchange Gods

On April 29, Lookonchain revealed a little nugget of truth: the TRUMP coin team decided to generously “share” $19.6 million worth of tokens. Where did these tokens go? Well, they didn’t just go anywhere—no, they were sent to Binance, OKX, and Bybit. You know, the usual suspects. About 700,000 tokens worth $10.21 million were flung onto Binance like confetti at a New Year’s party, while OKX and Bybit got their fair share with 350,000 and 296,000 tokens respectively. 🎉

Now, normally, dumping $20 million worth of a token on exchanges would make anyone break into a cold sweat. More supply equals less demand, and less demand equals…well, let’s just say the value isn’t going up. But hang on—because just as the market’s pulse starts to quicken, here come the political bigwigs. It’s like a plot twist in a political thriller. 🎬

Democrats Push For A Dinner Investigation. Yes, Really.

Enter stage left: U.S. Senators Adam B. Schiff and Elizabeth Warren, fresh from their latest quest to keep things “above board.” They’ve called for an investigation into Trump’s upcoming dinner with the top investors in his meme coin, because nothing screams “ethics” quite like a behind-the-scenes chat with the man himself. 🍽️

In an official request, they wrote to the Director of the U.S. Office of Government Ethics, Jamieson Greer, asking for a full-on investigation into this gastronomic gathering, which apparently caused a surge of $100 million in value for the PolitiFi token. And here we thought a private dinner just meant bad table manners. 🍴

Mark your calendars: The exclusive dinner for the top 220 investors is set for May 22, 2025. Rumor has it that TRON founder Justin Sun and other crypto celebrities will be gracing the event. No word yet on whether they’ll be bringing their own appetizers. 🥳

Meanwhile, the price of PolitiFi’s token has rocketed to $13.95, up nearly 70% from last week. And yet, despite the price surge, the bears are still in control, according to CoinGape’s three-month bias indicator. It’s almost as if the crypto market is saying, “Don’t get too comfortable, folks. This could all go south faster than you can say ‘pump and dump.’” 🐻💸

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2025-04-29 08:42