00:00It's Benzinga, bringing Wall Street to Main Street.
00:02President Trump hosted the winners of his second meme coin contest at Mar-a-Lago in Palm Beach,
00:07Florida, according to Reuters. The event gave top dollar Trump cryptocurrency buyers access
00:13to a private gala as the token traded near all-time lows after falling more than 95%
00:18from its peak. The 297 largest holders attended, while the top 29 joined a VIP reception.
00:25The event highlights Trump, combining his presidential role with his family's expanding
00:30crypto ventures, a convergence that ethics experts say has little modern precedent as
00:36his personal crypto wealth grows alongside policy changes. Retail buyers lost most of their gains
00:42after the token's launch, while the Trump family and affiliated entities continued to profit from
00:47the broader crypto ecosystem. Reuters reported the family has taken in more than $1 billion from
00:53crypto asset sales, including at least $336 million tied to meme coin sales in the first
00:58half of 2025. For all things money, visit Benzinga.com.
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