Trump’s New Crypto Club Offers “Luxury Suites at the Biggest Sporting Events” – Mother Jones

Fresh on the heels of a lackluster Mar-a-Lago “luncheon” party for his struggling $TRUMP meme coin, President Donald Trump appears ready to launch his next crypto-coin-for-exclusive-access project: Trump Coin Club.

In the wake of the Mar-a-Lago bash, the official $TRUMP coin website was updated with a new offer. The details are sparse but apparently meant to be enticing. “MEMBERS ONLY · LIMITED ACCESS,” the site promises. “The Trump Coin Club — invitation-only luxury suites at the biggest sporting events in the world, private dinners, and the most elite and extraordinary experiences.”

There is no information as to what specific “biggest sporting events” that might include. I sent an email to the $TRUMP coin website and the Trump Organization, but no one replied.

The website has a sign-up prompt and what appears to be a mockup of a “leaderboard”—apparently similar to the ranking system used to doll out slots to the top 297 $TRUMP coin holders who were invited to last weekend’s Mar-a-Lago luncheon. Independent crypto researcher Molly White first reported the new Trumpian offer Wednesday evening. While it seems anyone can join can join the Trump Coin Club for free, White writes that the leaderboard “appears designed to rank members by both the amount of the token they hold and the duration they’ve held it.” And the prospect of invitations to “elite” events could be intended to incentivize crypto enthusiasts to hold onto their $TRUMP coins for the long term.

$TRUMP is a meme coin, which means it doesn’t have any inherent use or value—it simply exists as a digital endorsement of Trump, as a concept. If it becomes popular, it can also become useful for financial speculation. But other than a huge spike in price in the hours immediately before and after Trump officially announced the coin’s creation, the price’s trajectory has been almost exclusively downward.

Depending on the crypto exchange you use, the price of the coin was once as high as $74, giving it a $15 billion market cap. But since February, each coin has been worth less than $4. After last weekend’s event at Mar-a-Lago, which Trump attended, the price slipped even further. As of this writing, it is currently hovering below $2.40.

But even with the plunging price, $TRUMP is a great deal for its namesake. The president created the coin out of nothing, so any price is a win for him.