One unidentified investor earned $2.5 million in a matter of hours by placing substantial bets related to the recent Trump gala developments.

A previously inactive crypto whale has invested $7 million in the Trump memecoin following the announcement of a new gala at Mar-a-Lago, resulting in a 60% surge for the underperforming token.

U.S. President Donald Trump (Nikhilesh De/CoinDesk)

What to know:

• After a five-month period of inactivity, a dormant crypto wallet reactivated on Thursday to acquire approximately 2.2 million TRUMP tokens, indicating strong confidence from a significant investor.
• The token experienced a 60% price increase following the announcement of a gala and luncheon on April 25 at Trump’s Florida estate, an exclusive gathering for the top 297 token holders.
• Despite this notable daily surge, the token remains down about 96% from its peak of $74 in January 2025, highlighting the significant risks associated with the memecoin market.

A crypto wallet that had been inactive for five months became active on Thursday, purchasing over $7 million worth of TRUMP tokens after the official team linked to the U.S. president announced a second gala for top holders, resulting in a more than 60% rise from its historical low.

Onchain data from Arkham Intelligence indicates that the wallet began acquiring tokens from Binance’s hot wallet starting at 01:49 UTC on March 13, just hours after the gala announcement. The wallet accumulated around 2.2 million TRUMP through four transactions: an initial test purchase of a single token, followed by two acquisitions of roughly 1 million tokens each, totaling $6.23 million, and an additional purchase of 200,000 tokens valued at $742,000.

The TrumpMeme account on X revealed a conference and gala luncheon at Mar-a-Lago on April 25. This event is accessible to the top 297 TRUMP holders based on a time-weighted average balance between the announcement date of March 12 and April 10.

TRUMP fell to a record low of nearly $2.71 earlier on Thursday before rising to $4.50, subsequently retreating to about $3.90—still reflecting an approximate 44% gain from the low. The wallet’s position was up about $2.47 million at the time of publication, with total holdings estimated at $9.44 million, according to Arkham data.

The upcoming event mirrors the dinner held at Trump National Golf Club in May 2025, which faced criticism from lawmakers and ethics watchdogs over concerns regarding presidential access as an incentive for token holders. A disclaimer on the event’s website notes that Donald Trump will participate in a personal capacity with no private meetings planned.

TRUMP has declined approximately 96% from its all-time high of around $74, recorded just before Trump’s inauguration in January 2025.