Trader Secures a Seat at Trump’s Dinner for $1,200

By: cryptosheadlines|2025/05/15 02:45:04
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Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com TRUMP buyer Morten Christensen and four friends received invitations to a gala dinner with US President Donald Trump, spending about $1200 per seat. This was reported by Bloomberg.To be on the top 220 holders list, you needed to have about $54,500 in tokens over the past three weeks, but Christensen and his friends found a way to splurge just on trading commissions.They would buy the right amount of TRUMP and open a short for the same amount. After the final guest list was announced, users sold tokens and closed short positions.“We figured it wouldn’t cost much to participate in the competition, we gave it a shot and did it,” Christensen noted.The trader himself first bought tokens in January, an hour after the announcement. In his own words, the same weekend he sold assets 30 times more expensive.“Then he announced the dinner, at first I ignored it, I thought the competition would be too tough. Then eight days before the end I saw the leaderboard. It wasn’t that expensive, maybe $60,000 or $70,000,” the trader added. Friends wrote a special program that tracked the portfolios of potential guests and predicted the amount of tokens needed to get on the list.According to Christensen, when the big players entered the contest, the five traders decided to buy TRUMP to secure their positions;At the time the winners were announced, the user held about $250,000 in the “presidential meme coin.” He ranked #188 under the nickname Aird. Source: GetTrumpMemes.The trader has already received the notification, provided the necessary data for checks and booked the plane tickets.Trump’s crypto projects to be vetted for conflicts of interestDemocrats left a joint hearing on digital assets in the US Congress, accusing Republicans of ignoring Donald Trump’s conflict of interest.The reason was the president’s ties to the crypto industry, including issuing the meme coin Trump and lobbying for projects through his family. Democrats vs. RepublicansHouse Financial Services Committee Vice Chair Maxine Waters said Republicans are “legitimizing corruption” by refusing to discuss Trump’s impact on regulation.In response, Republicans used a loophole in the rules to convert the hearing into a roundtable discussion. Brian Steil, chairman of the Digital Assets Subcommittee, said the discussion would continue without Democrats.Republican French Hill urged his colleagues to focus on creating a regulatory framework for the crypto market, but did not respond to claims about Trump’s ties to the industry. He said Democrats had “politicized” the process.Earlier, Democrats declared that they would not support the GENIUS Act steblecoin bill unless tough anti-money laundering rules and restrictions on foreign issuers were added.“Trump has launched his own stablecoin – this is unacceptable. We’ve been working on regulation for three years, and now we’re being rushed through, ignoring key risks,” Waters emphasized.At issue is the USD1 stablecoin launched by the DeFi project of the Trump family World Liberty Financial (WLFI).MEME ActIn parallel, Democratic Senator Chris Murphy has proposed legislation to prohibit US federal officials, including Trump, from promoting meme-coins for personal gain. The document, called the MEME Act, is intended to curb the use of official position to enrich oneself through digital assets or securities.The occasion was TRUMP, launched before Trump’s inauguration on the Solana blockchain. Murphy called the token “an example of corruption.”“Trump has turned the crypto market into a personal Venmo account where foreign oligarchs transfer millions for political favors.”Congressman Sam Liccardo (Democrat from California) supported the MEME Act:“Republicans are silent while Trump turns the White House into a tool for personal enrichment.”Financial policy expert Amanda Fisher said that cryptocurrencies are often used for fraud. Officials should not be allowed to profit from them, she emphasized.Trump’s cryptocurrencies checkDemocratic Senator Richard Blumenthal sent requests to World Liberty Financial (WLFI) and Fight Fight Fight LLC to disclose details of Trump’s involvement in the projects. Politico reported that the Senate investigations committee is launching a probe into possible conflicts of interest and legislative violations.In a letter to Fight Fight Fight LLC, which launched TRUMP, Blumenthal pointed to the token’s price spikes and suggested that a narrow range of individuals capitalized on its launch. He also criticized Dinner with Trump: in his opinion, the promotion was launched to stimulate token sales after a drop in interest.“Trump’s ties to the TRUMP token and attempts to use the White House to increase its value is an unprecedented scheme to access power for money,” the senator said.Blumenthal said in a statement to WLFI that the Trump family has received “significant financial benefits” from the project and that cooperating with foreign investors poses a national security risk.Companies must provide documents on the ownership structure, financial flows and measures to prevent conflicts of interest until July 27.Source link

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Before using Musk's "Western WeChat" X Chat, you need to understand these three questions

The X Chat will be available for download on the App Store this Friday. The media has already covered the feature list, including self-destructing messages, screenshot prevention, 481-person group chats, Grok integration, and registration without a phone number, positioning it as the "Western WeChat." However, there are three questions that have hardly been addressed in any reports.


There is a sentence on X's official help page that is still hanging there: "If malicious insiders or X itself cause encrypted conversations to be exposed through legal processes, both the sender and receiver will be completely unaware."


Question One: Is this encryption the same as Signal's encryption?


No. The difference lies in where the keys are stored.


In Signal's end-to-end encryption, the keys never leave your device. X, the court, or any external party does not hold your keys. Signal's servers have nothing to decrypt your messages; even if they were subpoenaed, they could only provide registration timestamps and last connection times, as evidenced by past subpoena records.


X Chat uses the Juicebox protocol. This solution divides the key into three parts, each stored on three servers operated by X. When recovering the key with a PIN code, the system retrieves these three shards from X's servers and recombines them. No matter how complex the PIN code is, X is the actual custodian of the key, not the user.


This is the technical background of the "help page sentence": because the key is on X's servers, X has the ability to respond to legal processes without the user's knowledge. Signal does not have this capability, not because of policy, but because it simply does not have the key.


The following illustration compares the security mechanisms of Signal, WhatsApp, Telegram, and X Chat along six dimensions. X Chat is the only one of the four where the platform holds the key and the only one without Forward Secrecy.


The significance of Forward Secrecy is that even if a key is compromised at a certain point in time, historical messages cannot be decrypted because each message has a unique key. Signal's Double Ratchet protocol automatically updates the key after each message, a mechanism lacking in X Chat.


After analyzing the X Chat architecture in June 2025, Johns Hopkins University cryptology professor Matthew Green commented, "If we judge XChat as an end-to-end encryption scheme, this seems like a pretty game-over type of vulnerability." He later added, "I would not trust this any more than I trust current unencrypted DMs."


From a September 2025 TechCrunch report to being live in April 2026, this architecture saw no changes.


In a February 9, 2026 tweet, Musk pledged to undergo rigorous security tests of X Chat before its launch on X Chat and to open source all the code.



As of the April 17 launch date, no independent third-party audit has been completed, there is no official code repository on GitHub, the App Store's privacy label reveals X Chat collects five or more categories of data including location, contact info, and search history, directly contradicting the marketing claim of "No Ads, No Trackers."


Issue 2: Does Grok know what you're messaging in private?


Not continuous monitoring, but a clear access point.


For every message on X Chat, users can long-press and select "Ask Grok." When this button is clicked, the message is delivered to Grok in plaintext, transitioning from encrypted to unencrypted at this stage.


This design is not a vulnerability but a feature. However, X Chat's privacy policy does not state whether this plaintext data will be used for Grok's model training or if Grok will store this conversation content. By actively clicking "Ask Grok," users are voluntarily removing the encryption protection of that message.


There is also a structural issue: How quickly will this button shift from an "optional feature" to a "default habit"? The higher the quality of Grok's replies, the more frequently users will rely on it, leading to an increase in the proportion of messages flowing out of encryption protection. The actual encryption strength of X Chat, in the long run, depends not only on the design of the Juicebox protocol but also on the frequency of user clicks on "Ask Grok."


Issue 3: Why is there no Android version?


X Chat's initial release only supports iOS, with the Android version simply stating "coming soon" without a timeline.


In the global smartphone market, Android holds about 73%, while iOS holds about 27% (IDC/Statista, 2025). Of WhatsApp's 3.14 billion monthly active users, 73% are on Android (according to Demand Sage). In India, WhatsApp covers 854 million users, with over 95% Android penetration. In Brazil, there are 148 million users, with 81% on Android, and in Indonesia, there are 112 million users, with 87% on Android.



WhatsApp's dominance in the global communication market is built on Android. Signal, with a monthly active user base of around 85 million, also relies mainly on privacy-conscious users in Android-dominant countries.


X Chat circumvented this battlefield, with two possible interpretations. One is technical debt; X Chat is built with Rust, and achieving cross-platform support is not easy, so prioritizing iOS may be an engineering constraint. The other is a strategic choice; with iOS holding a market share of nearly 55% in the U.S., X's core user base being in the U.S., prioritizing iOS means focusing on their core user base rather than engaging in direct competition with Android-dominated emerging markets and WhatsApp.


These two interpretations are not mutually exclusive, leading to the same result: X Chat's debut saw it willingly forfeit 73% of the global smartphone user base.


Elon Musk's "Super App"


This matter has been described by some: X Chat, along with X Money and Grok, forms a trifecta creating a closed-loop data system parallel to the existing infrastructure, similar in concept to the WeChat ecosystem. This assessment is not new, but with X Chat's launch, it's worth revisiting the schematic.



X Chat generates communication metadata, including information on who is talking to whom, for how long, and how frequently. This data flows into X's identity system. Part of the message content goes through the Ask Grok feature and enters Grok's processing chain. Financial transactions are handled by X Money: external public testing was completed in March, opening to the public in April, enabling fiat peer-to-peer transfers via Visa Direct. A senior Fireblocks executive confirmed plans for cryptocurrency payments to go live by the end of the year, holding money transmitter licenses in over 40 U.S. states currently.


Every WeChat feature operates within China's regulatory framework. Musk's system operates within Western regulatory frameworks, but he also serves as the head of the Department of Government Efficiency (DOGE). This is not a WeChat replica; it is a reenactment of the same logic under different political conditions.


The difference is that WeChat has never explicitly claimed to be "end-to-end encrypted" on its main interface, whereas X Chat does. "End-to-end encryption" in user perception means that no one, not even the platform, can see your messages. X Chat's architectural design does not meet this user expectation, but it uses this term.


X Chat consolidates the three data lines of "who this person is, who they are talking to, and where their money comes from and goes to" in one company's hands.


The help page sentence has never been just technical instructions.


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