Trump to Host Gala for Top 220 $TRUMP Holders

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Good Morning.

Trump takes his memecoin play a step further with a gala for top $TRUMP holders, bringing cypto one step closer to mainstream political strategy.

In Today's Email:

• What Matters: Trump to Host Gala for Top 220 $TRUMP Holders 🍽️ 

• Founders Highlight: Viktor Fischer of RockawayX 🚀 

• Deal Flow: Theo Raises $20M for Crypto Platform 💰️ 

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WHAT MATTERS

Trump to Host Gala for Top 220 $TRUMP Holders

State of play: President Donald Trump is set to host a gala for the top 220 holders of his official memecoin, $TRUMP, at the Trump National Golf Club in Washington, on May 22.

• According to the project's website, rankings are based on how much $TRUMP a person holds and for how long between April 23 and May 12.

• The more $TRUMP held, and the longer the holding period, the higher the wallet ranks.

• The top 15 holders will be treated to an exclusive reception with Trump before dinner and receive a VIP White House tour.

• There are currently 10 wallets holding 0 $TRUMP in the top 240 leaderboard.

• Most of the wallets in the top 25 hold more than 100K of $TRUMP.

One of the standout registrants for the gala is an HTX cold wallet labeled "Sun" by Arkham Intelligence, holding nearly 1.2M $TRUMP, valued around $14.5M.

• While this is the highest in terms of raw token amount, the address currently ranks only 12th due to the event’s time-weighted scoring system.

• The wallet is speculated to be linked to Justin Sun, a known crypto figure and HTX advisor.

• The same "Sun" wallet also holds other tokens, including Solana, Bonk, Fartcoin, and Melania’s $MELANIA token, totaling over $66M in assets.

What’s next: The $TRUMP gala is expected to further boost attention on memecoins tied to public figures. With leaderboard rankings locked in by May 12, whales may intensify their accumulation strategies, potentially driving further price volatility.

For builders and investors: The event showcases a growing trend of token-based loyalty experiences tied to real-world events. Developers can take note of how exclusive access and social status mechanics are being gamified through token holdings.

BUILDER-INVESTOR HIGHLIGHT

Viktor Fischer of RockawayX

Intro: Viktor Fischer is the Managing Partner and CEO of RockawayX, the Prague-based crypto venture capital firm that backed Solana in 2018.

Previous background: Before RockawayX, Viktor co-founded Innovatrics, a global biometrics company. He then spent five years at McKinsey as a Junior Partner, focusing on M&A, private equity, and corporate strategy across Europe and Asia.

• He holds an MBA from INSEAD (exchange at Wharton) and a master’s from HEC Paris.

The big idea: RockawayX’s and Viktor’s big idea is to be an engineering-driven investor that builds and supports the Solana ecosystem from the ground up by running validators, providing liquidity, and backing projects with both capital and infrastructure.

Take a peek at our referral reward at the bottom of this issue. Share this newsletter and receive our list of 500 crypto VC individuals 👇

INSIGHTS

SOL Strategies Soars 25% After $500M Raise

State of play: SOL Strategies, a Canadian-listed investment firm, raised $500M through a convertible note facility with ATW Partners to ramp up its Solana holdings. The announcement sent its stock (HODL) up 25%, closing at CAD 2.28.

• The deal is the largest financing of its kind in the Solana ecosystem, with interest on the notes to be paid in SOL based on staking yield.

• SOL Strategies, formerly Cypherpunk Holdings, is positioning itself as a leading institutional staking platform.

• Meanwhile, DeFi Development Corporation also increased its SOL position to 317K+ SOL, and Galaxy Digital reportedly swapped $100M+ in ETH for SOL.

DEAL FLOWS

Theo Raises $20M for Crypto Platform

Deal flows held steady this week - we saw $440M in deals 💼 

Theo, an institutional-grade crypto trading platform, has raised a total of $20M across two funding rounds, with the latest $15.5M round led by Hack VC and Anthos. Theo builds low-latency trading infra and validator systems to support institutional clients.

• Other investors include Manifold Trading, Mirana Ventures, and Flowdesk, along with angels from top TradFi firms like Citadel and JPMorgan.

• The funds will go toward expanding integrations, strengthening regulatory compliance, and scaling its validator network.

• The platform currently holds $29M in TVL and supports four blockchains.

Deal flows in the past week:

• Tally, $8M Series A

• Arch Network, $13M Series A

• Symbiotic, $29M Series A

• Mask Network, $5M Strategic Round

• Consensus Value Creation, $20M Strategic Round

• Analog, $15M Private Token Sale

• LayerZero, $55M Private Token Sale

• Upexi, $100M Equity Round

• Bitdeer, $179M Loans & Equity Round

• ZND, $20M Unknown Round

QUICK BITES

• TRON Network Surpasses $70B in Circulating USDT.

• Hack VC & Anthos Capital lead capital raise for Theo.

• BlackRock's IBIT attracts $643M in single-day inflows.

• SOL Strategies stock jumps 25% following $500M raise.

• FBI says Americans over 60 lost nearly $3B to crypto scams.

• Former Celsius CEO sentenced over fraud and manipulation.

• Citigroup predicts stablecoin supply could hit $3.7T by 2030.

• RockawayX raises $125M to primarily invest in Solana projects.

• South Korea's key right-wing party pushes for new pro crypto law.

• Federal Reserve retracts guidance discouraging banks crypto activity.

• 'Sun' username registers an HTX wallet for Trump's memecoin dinner.

• TON Foundation names MoonPay co-founder Maximilian Crown as CEO.

NOTEWORTHY READS

• Chilla’s read on Noise: Mindshare as an Asset.

• Alex Wacy’s thread on The Market Always Comes Back.

• Delphi Labs’s read on How Aptos is Rethinking Scalability & Performance.

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Disclaimer: All the information presented in this publication and its affiliates is strictly for educational purposes only. It should not be construed or taken as financial, legal, investment, or any other form of advice.