TRUMP Token Jumps 70% as President Hosts Top 220 Holders

A surprise dinner announcement for holders of the TRUMP meme coin triggered a 70% rally, pushing the token's price to $13. The gala, hosted by President Donald Trump at his Washington D.C. golf club, will admit the top 220 $TRUMP holders, ranked by average holdings from April 23 to May 12.

The event follows last week’s unlock of $300 million worth of TRUMP tokens, increasing its circulating supply just months after its controversial January launch. “The more $TRUMP you hold, and the longer you hold it,  the higher Your Ranking will be,” the event’s website states, also offering VIP perks for the top 15 holders.

Despite the hype, TRUMP remains 80% below its $73 all-time high reached the day before Trump’s inauguration. The token’s debut drew backlash over heavy insider allocations and was widely viewed as a speculative peak that foreshadowed a broader market decline.

Trump has leaned into crypto since taking office, appointing pro-industry regulators and hosting a digital asset summit at the White House. The memecoin’s comeback ride has mirrored the political pageantry, with critics warning it still “distracts from the greater good” of crypto’s mainstream reputation.

Zora Airdrop Launches Without Public Announcement

The ZORA token launched without prior announcement, leaving users scrambling to claim tokens manually through the Base smart contract. The lack of an official claim link and unclear instructions drew backlash, especially as millions in tokens had already been distributed to exchanges like Binance and Bybit. Social media lit up with criticism, accusing the team of poor communication and privileging insiders.

While Zora called the token a “for fun only” meme coin without governance rights, many were frustrated that just 10% of the 10 billion token supply was allocated to users. The platform, known for tokenizing social media posts, had recently gained traction after promotion from Base creator Jesse Pollak. Coinbase Ventures participated in Zora’s early funding, including a $50 million raise in 2022.

Ethereum Layer 2 Scroll Deploys "Euclid" Upgrade

Ethereum Layer 2 protocol Scroll launched its biggest upgrade to date, called Euclid, which aims to cut fees by 90% while increasing network throughput. The overhaul introduces five core changes including a new zkEVM prover, MPT state commitments, and support for EIP-7702 and RIP-7212. These features enable account abstraction and improved app compatibility while reducing reliance on centralized infrastructure.

Scroll now considers itself a "Stage-1" rollup, a milestone in decentralization under Vitalik Buterin’s rollup classification framework. Despite the upgrade, Scroll’s total value locked has fallen to $62.6 million, a sharp decline from its $900 million peak last October. The protocol’s team says the upgrade will streamline developer tools and boost user experience for DeFi and wallet users alike.

Gate.io Offers Full Compensation After Futures Outage

Crypto exchange Gate.io announced it will fully compensate users affected by an emergency futures system upgrade triggered by a traffic surge on April 23. Futures and copy trading were temporarily suspended during the maintenance, while spot trading and other services remained operational. The platform confirmed all services had been restored and apologized for the disruption.

Users are now waiting on specifics of the compensation plan, including whether it will cover unrealized losses caused by liquidations during downtime. Gate.io’s token, GT, showed minimal reaction, dipping less than 2% post-announcement. The exchange, currently ranked 11th by spot volume, recently marked its 12th year in operation and processed nearly $50 billion in trading last month.

Data of the Day

Bitcoin ETFs recorded $936 million in net inflows, their biggest single-day total since January, as investors leaned into Bitcoin’s perceived safe-haven status. Top contributors included ARK & 21Shares with $267 million, Fidelity with $254 million, and BlackRock with $193 million, according to SoSoValue data. Analysts say the flows reflect growing institutional appetite amid geopolitical tension and inflation risks.

Bitcoin rose 6.4% in 24 hours to $93,765, aided by easing fears of a trade escalation between the U.S. and China. Treasury Secretary Scott Bessent indicated de-escalation was imminent, while President Trump reversed course on his threats to fire Fed Chair Jerome Powell. Bitcoin ETFs now collectively hold over $103 billion in assets, a factor analysts say is driving consistent price support.

More Breaking News

• Symbiotic raised $29 million in Series A funding to expand from Ethereum restaking into universal staking across multiple networks and assets.
• Binance will require South African users to submit sender and receiver info for crypto transfers starting April 30 to meet local regulations.
• A serious flaw in the XRP Ledger's JavaScript library was patched after hackers exploited a developer token to publish malicious npm packages.
• Hex founder Richard Heart declared victory after the SEC dropped its fraud case, though he remains wanted in Europe for other alleged crimes.
• Jack Mallers, founder of Strike, will lead Twenty One Capital, a Tether-backed Bitcoin firm launching with $3.6B in BTC and planning a public SPAC merger.
• Riot Platforms secured a $100M credit line from Coinbase Credit backed by Bitcoin, with funds to support corporate initiatives and expansion.
• The SEC sued PGI Global’s CEO for running a $198M Ponzi scheme using fake AI crypto trading promises, its first crypto case under new leadership.

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