Major holders of the TRUMP memecoin now control $174 million worth of tokens as former President Donald Trump prepares for a high-stakes dinner with current U.S. leadership. This development follows Trump’s increased crypto advocacy and comes alongside significant moves in politically-linked blockchain ventures.
TRUMP Token Whales Accumulate Ahead of Event
The top 20 TRUMP wallets now hold 85% of the token’s circulating supply, with $174 million concentrated among these investors. Blockchain data shows three wallets acquired over $4.2 million in TRUMP tokens within 72 hours of the dinner announcement .
This accumulation pattern mirrors previous price surges around Trump’s crypto-related statements. The token gained 62% last month after Trump declared support for domestic Bitcoin mining operations during a campaign rally.
American Bitcoin Goes Public via Gryphon Merger
In a related development, Trump-affiliated mining firm American Bitcoin will become publicly traded through a stock-for-stock merger with Gryphon Digital Mining. The combined entity, retaining the American Bitcoin name, positions itself as “the only carbon-neutral Bitcoin miner with White House connections” .
Key details of the deal include:
- Gryphon shareholders to own 35% of merged company
- American Bitcoin brings 18,000 mining rigs online
- Projected $140 million annual revenue post-merger
Nakamoto Holdings Merges with KindlyMD
The Trump-linked Nakamoto Holdings has completed its merger with healthcare provider KindlyMD, creating a novel Bitcoin treasury strategy. The partnership will allocate 15% of KindlyMD’s prescription revenue to Bitcoin purchases, managed through Chintai’s tokenization platform .
This move follows increased institutional interest in tokenized real-world assets (RWAs), exemplified by PREH Capital’s recent $100 million tokenized real estate fund on the same blockchain network.
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Market Impact and Analysis
The convergence of political developments and crypto markets appears poised for volatility. Analysts note Bitcoin’s 15.5% yield in institutional portfolios suggests growing confidence, while the U.S.-China tariff negotiations could create favorable conditions for risk assets .
With Bitcoin recently surpassing $100,000 and Trump-related tokens showing heightened activity, market participants anticipate increased regulatory clarity post-dinner. However, concerns persist about potential SEC action following last year’s X account compromise incident .
