A controversial Trump coin launched by Trump in January this year surged 58 per cent on Wednesday, following the announcement on its official website that 220 top investors would be invited to dinner with the President of the United States on 22 May.

This is an extraordinary outreach initiative initiated by an enterprise owned by the incumbent President. It is stated on the website that those who hold this monetized coin will be invited to the Great Dinner hosted by the Golf Club of the Trump State near Washington.

The top 25 holders will also be invited to the VIP reception with the President and will be given access to the White House. The winners will be determined on the basis of their average holdings from 23 April to 12 May.

As of Wednesday, according to SolScan, the Solara analysis site, the value of the TRUMP tokens required to obtain invitations was almost $400,000.

This was the first time that the United States Commander-in-Chief had sold access to him through his own personal currency. TRUMP coins were released on the Solana block chain just before the President took office on January 20th. The First Lady, Melania Trump, has introduced an independent memes called MELANIA.

Although TRUMP initially priced more than $40 per token, it collapsed quickly and fell to about $7.30 earlier this month.

Trump's memes were immediately criticized by ethical experts and by leading voices in the encrypted money industry, including Vitalik Buterin, a co-founder of the Taifeng.

Critics have suggested that the coin could be used to bribe the President, as any large-scale purchase could push up the value of the coin. Toran has reached 80 per cent of its partner ' s supply of the coin, estimated at approximately $11 billion as of Wednesday.

In response, in February, Democrat parliamentarians introduced the Modern Corruption and Misconduct Enforcement Bill, the MEME Bill. The bill will prohibit the President, Vice-President, Members of Parliament, senior executive officers, their spouses and their children from issuing, sponsoring or endorsing any securities, futures, commodities or digital assets.

Given that the Republican party controls both houses of Congress, there is little chance that the bill will be passed.

A few days before the news of the President ' s Trumps dinner, a number of TRUMP coins had been unlocked, which meant that the team behind the project could sell some of the coins it held.