The team behind the $TRUMP memecoin is rolling out a new loyalty program, according to its official website and social media channels. The move comes just after a wave of major token holders cashed out, following the conclusion of a high-stakes contest offering a chance to dine with Donald Trump himself.
According to Bloomberg, the loyalty initiative encourages users to link their self-custodied crypto wallets to a leaderboard system, allowing them to earn “Trump Reward Points” and exclusive digital badges. “Join the Trump Community! Have FUN!” the website exclaims. While exact details are still under wraps, the program appears aimed at rewarding continued participation.
This announcement came on the heels of a sharp selloff. A recent leaderboard competition promised the top 220 $TRUMP holders a seat at a May 22 dinner with Trump. Once the contest ended on Monday, over 20 wallets that had been in the top 220 either emptied their holdings or significantly reduced them, according to the leaderboard.
In an attempt to maintain holder interest, the coin’s issuer—Fight Fight Fight LLC—revealed that those who retain their coin balances through the dinner date will receive a limited edition TRUMP DIAMOND HAND NFT on the Solana blockchain. These NFTs will not only be rare collectibles but will also enhance holders’ ability to earn Trump Reward Points.
The Trump memecoin initiative has drawn political fire. Democratic Senators Elizabeth Warren and Adam Schiff previously called for a federal ethics probe, accusing Donald Trump of monetizing access to himself through this digital asset scheme. A Bloomberg investigation also uncovered that many leaderboard participants were based outside the U.S., raising additional questions.
Following the contest’s conclusion, the price of the $TRUMP coin fell roughly 8% in 24 hours, according to CoinMarketCap. The token has now slid to around $2.55 billion, down from a $15 billion market cap it once soared to in January. It saw a temporary surge in April after the dinner contest was announced but has since lost steam.
Two entities – CIC Digital LLC, affiliated with the Trump Organization, and Fight Fight Fight LLC—control 80% of the total memecoin supply. This massive stake is currently locked under a three-year release schedule, but the first unlock is set to happen in roughly two months. Once unlocked, the organizations could begin selling off their holdings. Both CIC Digital and Celebration Cards LLC are entitled to revenue generated from the trading activity of the memecoin.
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