Foreign Investors Dominate Trump Meme Coin Dinner Bid
Analysis reveals majority of top $TRUMP holders use overseas exchanges, raising concerns over foreign influence.
2 min read
Foreign investors are dominating the race for seats at President Donald Trump’s upcoming meme coin dinner, with at least 52 of the top 100 $TRUMP holders using cryptocurrency exchanges that ban U.S. customers, according to a CBS News analysis.
Top Holders Use Overseas Exchanges
The analysis, which used data from the crypto tracking firm Arkham, found that holders tied to platforms like Binance, Bybit, and MEXC—exchanges that prohibit American users—account for nearly $6.8 million of the leaderboard’s over $15 million in value. At least 44 of the top holders had previously moved funds through Binance before acquiring $TRUMP, CBS reported.
These findings have raised concerns among critics, who argue that foreign actors could be gaining access to the sitting president through the event. The White House and the Trump Organization did not immediately respond to the Daily Caller News Foundation’s requests for comment.
NEW: More than half of the 100 wallets listed as competing for seats at President Trump’s Nov. 22 meme coin dinner used crypto exchanges that bar U.S. customers, @CBSNews found w/ @madbmay + @BySteveReilly https://t.co/LW6zNmGqqN
Experts Sound Alarm Over Foreign Influence
“Foreign actors used to need a back door to try to influence a president,” Zach Everson, a researcher for the progressive group Public Citizen, told CBS News. “Trump is holding the front door open and inviting them in for a steak dinner.”
Virginia Canter, a former Clinton and Obama White House ethics lawyer, added, “As was the case with Trump’s previous meme coin gala, it appears that the majority of $TRUMP investors are purchasing his meme coin through overseas exchanges. Foreign actors are literally buying a seat at the president’s own table.”
Exchanges Have History of Non-Compliance
China-based Binance, one of the exchanges involved, pleaded guilty to U.S. charges over its failure to maintain an anti-money laundering program and agreed to stop serving American customers in 2023, according to the Justice Department.
CBS News noted that more than half of the top 100 holders of $TRUMP competing for seats at the Nov. 22 gala show signs they are controlled by non-domestic cryptocurrency traders. The event will reward the top 29 holders with prime seating and a private reception with the president.
“$TRUMP is not political and has nothing to do with any political campaign or any political office,” the coin’s website states.
Source: Daily Caller
