The post Thursday Mailbag: Dinners, memecoins and lobbyists appeared on BitcoinEthereumNews.com.

This is a segment from The Breakdown newsletter. To read full editions, subscribe. “The value of all Wares arise from their Use; things of no use, have no value.”  — Nicholas Barbon (1690) Q: What did dinner with the president cost? The final TRUMP holder to qualify for dinner with the president held 4,196 tokens, which were worth about $60,000 at the cut-off. But that’s not the cost of the invite, because holders were free to sell as soon as the period or record ended. If they did, they would have taken about a 10% loss, making the real cost of dinner with the president (and 219 others) about $6,000. This is a bargain! For comparison, a Super PAC sold tickets in March to a “candlelight dinner” with the president for $1 million each — 166x more! Donors were also offered a one-on-one meeting with the president for $5 million. That, I think, seems roughly on par with the 25-person VIP meetup for TRUMP token holders, which cost at about $240,000 for those who sold immediately after qualifying. Many did sell, including the last VIP qualifier, whose wallet now shows a balance of zero TRUMP.  Roughly 40 others also sold as soon as they had qualified — including several mature jokesters who reduced their holding to 69 tokens (the conversation at dinner will be riveting, I’m sure). There might be consequences for gaming the contest like that — I’m guessing the zero and near-zero holders will be seated further away from POTUS, at the very least.  But the 220th holder appears to be a true believer: They doubled their TRUMP holdings after the contest ended. Might that earn them a second scoop of ice cream? Let’s hope they report back. Q: Are memecoins making a comeback? They’re less dead than I…

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Filed under: News - @ May 15, 2025 10:26 pm