VIP seats for a memecoin event linked to President Donald Trump are trading above $200,000, fuelling renewed debate over speculation around the TRUMP token and potential conflicts of interest. Critics say the structure could encourage token purchases and route fees and profits to Trump and his family. Lawmakers in both parties raised concerns about promotion of the dinner even though Trump may not attend. The TRUMP token rose briefly but remains far below its peak.

Ahead of U.S. President Donald Trump’s Mar-a-Lago luncheon event, holders of the meme coin TRUMP are increasing their holdings. Cointelegraph reported whales are competing to qualify for invitations. The event is set for April 25, with the top 297 holders invited and the top 29 offered a separate private reception. On-chain trackers reported multiple large withdrawals from Binance, Bybit and BitMart. Despite accumulation, TRUMP has fallen more than 33 percent since a March spike.