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Headlining today’s Green Deals is Rad Power’s Memorial Day Sale which is taking up to $500 off seven e-bikes – four of which are the first discounts we’re seeing on the new lineup of models, like the Radster Road Commuter e-bike that is down at $1,999. We also spotted DJI’s Power 1000 Station dropping to $449, as well as Husqvarna’s Power Axe 350i 18-inch Cordless Electric Chainsaw kit at $384, with more of the brand’s tools also seeing discounts. Lastly, we have EcoFlow taking up to 30% off three flash sale offers through the rest of the day, starting from $649. Plus, all the other hangover Green Deals are in the links at the bottom of the page, like yesterday’s up to 67% discounts during EcoFlow’s Memorial Day Sale, the biggest accessory bundle to date on Lectric’s XP Trike, and more.

Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

Rad Power’s Memorial Day Sale offers first cash savings on new e-bikes along with legacy models – starting from $1,299

Rad Power has launched its Memorial Day Sale through June 4, which is offering up to $500 off seven e-bikes, including the first cash discounts on four of its newest e-bikes that will be ending sooner on May 26. Among the new models, the one that has had my eye since its launch at the top of March is the Radster Road Commuter e-bike that is down at $1,999 shipped. This new model has been keeping to its $2,199 full price since hitting the market, with the only deals we’ve seen so far having been single add-on accessory promos during some past sales. You’ll now be able to save $200 off the going rate through next week’s holiday, setting the bar for future discounts that we might see down the road.

Launched alongside three other models, including a trail-trekking counterpart, Rad Power’s Radster Road e-bike is the latest of the brand’s commuter-focused solutions that boast a sizeable speed and mileage increase over its legacy models. It arrives equipped with a 750W rear hub motor that produces 100Nm of torque and a 720Wh Safe Shield semi-integrated battery, providing you with top speeds up to 28 MPH and up to 65+ miles of travel on a single charge with its 5 PAS levels activated (with those supported by a torque sensor).

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This model, like its newer counterparts, comes stocked with some solid features beyond its initial performance, like the system locking via a passcode or an included security fob, providing added security, which is always my primary concern when taking mine out. There’s also the hydraulic suspension fork, hydraulic disc brakes, Kenda Kwick puncture-protected tires with fenders over each, the front LED headlight and integrated taillight with brake lighting and turn signals, a Shimano 8-speed derailleur, a rear cargo rack, a color display with a USB-C port to charge devices, and more.

Rad Power’s Memorial Day new e-bike deals (through May 26):

Rad Power’s Memorial Day legacy e-bike deals (through June 4):

This is a great month to gear up for cruises through the summer and into fall, as many of the most popular and our favorite brands are currently offering big savings on e-bikes and e-scooters, which you can browse in our one-stop-shop Ride to Work EV hub.

DJI Power 1000 Portable Power Station

Keep your outdoor adventures running with DJI’s Power 1000 1,024Wh LiFePO4 station down at $449

Through its official Amazon storefront, DJI is offering its Power 1000 Portable Power Station for $449 shipped. Despite carrying a $999 price tag elsewhere, we’ve been seeing it spend 2025 so far keeping posted at a $699 rate here at Amazon, with discounts having been completely absent since April began. While we have seen it dip down as low as $379 in the past, those rates were last seen in November and December, with the price here beaten out in the new year by one fall to $419 in March, giving you the second-best pricing of 2025 that saves you $250 off the going rate ($550 off its original MSRP). It’s even beating out the discount we’re seeing directly from DJI’s website, where it’s sitting $50 higher.

An ideal companion for folks who spend plenty of time out in the wilds of the world, particularly for photography, flying the brand’s drones, and the like, DJI’s Power 1000 station covers backup power needs with a 1,024Wh LiFePO4 capacity through eight port options. Those ports are quite versatile in output, as among the options you’ll have, the two AC outlets provide up to 2,200W of power (surging to 2,600W) in order to tackle larger appliance needs, while also promising fast-charging speeds for personal devices at up to 140W from the dual USB-Cs, plus the others.

By equipping this station with either an MPPT module or DJI’s power outlet to SDC power cable, you’ll be able to utilize its solar-charging capabilities, with the unit boasting a 1,600W max input that can put the battery back to full in 80 minutes. Of course, you could also plug it into a wall outlet for an 80% battery in 50 minutes, taking about 20 minutes longer to push it to full. Right now, there are two discounted solar-capable bundles, with the station getting a 100W panel and the appropriate cables for $688, down from $1,247, or, while it has been $300 less for most of the year, you can still save $300 off the MSRP for the station with a 200W panel at $1,356. There are other options on the same page for those just seeking the cables to connect existing solar panels, but they are keeping to their full prices at the moment.

Husqvarna Power Axe 350i electric chainsaw

Fell trees and cut up firewood with Husqvarna’s Power Axe 350i 18-inch electric chainsaw kit at $384

Amazon is offering the Husqvarna Power Axe 350i 18-inch Cordless Electric Chainsaw for $383.99 shipped. Normally going for $480 at full price, discounts are often less frequent on this brand’s tools as opposed to EGO, Greenworks, and others. In 2025, we’ve seen it fall to this same rate twice before, which has been the lowest tracked price so far in the last five months. We have seen it go as low as $359 at the end of 2023, and $379 in 2024, with today’s deal being the best of 2025 and the third-lowest price overall, saving you $96 off the going rate for as long as it lasts.

Unlike many other Husqvarna offers we see, which are usually tool-only deals, the brand’s Power Axe 350i actually comes with a 7.5Ah battery and charger, and is a larger yet still lightweight model perfect for felling trees, cutting up firewood, and the like with its 18-inch bar and chain. It has been given the brand’s X-cut chain that retains sharpness for longer periods over more standard designs, while also boasting a tool-less tensioning system that allows for easier adjustments at faster speeds with little effort. There’s even a boost mode that activates with a button press, ramping its output by 25%.

Other Husqvarna discounts:

EcoFlow DELTA 3 Plus power station

Get up to 30% off EcoFlow flash offers like the DELTA 3 Plus power station with a protective bag at $649 (Today only)

As part of EcoFlow’s ongoing Memorial Day Sale through May 28, the brand has launched the next round of 24-hour flash offers on three units through the rest of the day. The only one to include an actual power station gives you the DELTA 3 Plus with a protective bag for $649 shipped. We normally see this bundle with the bag on the standard predecessor model or elsewhere, with the power station often fetching $799 at full price. While we have seen the price go as low as $535 from a Wellbots exclusive deal last month (one of only two that we’ve secured), you’re still looking at a solid $150 markdown off the going rate on top of getting the accompanying bag, which is lacking at Amazon, where the pricing on the station matches.

While not as sizeable as some of its counterparts, EcoFlow’s DELTA 3 Plus is a mid-range option that gives you peace of mind while away from home with its 1,024Wh LiFePO4 capacity, which you can expand up to 5kWh with the appropriate expansion batteries for the DELTA 3, DELTA Pro 3, DELTA 2 Max, or the DELTA 2. The 13 ports provide ample support for devices and appliances, with the unit dishing out a steady 1,800W output that can surge as high as 3,600W thanks to the X-Boost. There are five methods to recharge this model (AC, solar, smart dual fuel generator, 800W alternator charger, and multi-charging), and it comes rated for 4,000 lifecycles, giving you nearly 11 years of usage, were you to charge and discharge its battery every single day.

EcoFlow’s other 24-hour flash offers (through May 22):

EcoFlow’s Memorial Day Sale will continue taking up to 67% off power stations through May 28, with flash sales scheduled to pop up next on May 26.

Best Spring EV deals!

Best new Green Deals landing this week

The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.

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California announces lawsuit to resist Congress’ illegal attacks on clean air

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10 hours ago

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May 22, 2025

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California announces lawsuit to resist Congress' illegal attacks on clean air

california governor gavin newsom

California will go to court to protect its clean air in the face of illegal attacks by republicans in Congress, said California Governor Gavin Newsom today.

Earlier today, the US Senate voted to revoke California’s waiver to set its own clean air rules using the Congressional Review Act (CRA). The House previously voted on a similar measure earlier this month.

For more than half a century, California has asked for and been granted this waiver that allows it to set its own emissions rules. Other states can follow California’s rules (and around 11 states do so, though that amount differs for each rule), as long as they do so exactly, and as long as those rules are stronger than the national ones.

It has this unique authority because California had its own Clean Air Act before the federal Clean Air Act was passed, and because the state had a unique problem with smog at the time and needed stricter rules than the rest of the country. So a carveout was made in the federal law in recognition of this, and California has been granted this waiver over 100 times after following proper rulemaking processes, and denied zero times.

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California’s clean air laws have been effective in reducing pollution, with vehicle-based pollutants dropping by 98% in the last 50 years. But of course, there’s still more to be done, as the LA area remains one of the smoggiest in the country due to factors including geography, high car dependency, heavy shipping traffic, and a lack of public transitt.

Despite the protestations of industry at the time and since, these rules have not made it impossible for them to operate, or sell cars, or profit from selling cars, in California or any other states that follow its rules.

California’s newest set of rules is set to save Californians, and the residents of other states who follow them, hundreds of billions of dollars on health, fuel, and maintenance costs through 2050 by encouraging electrification – and of course will save thousands of lives due to pollution reductions.

Republicans targeted not just California’s regulation on light duty vehicles (ACC II), but also some other truck emissions rules (the ACT and HD low-NOx Omnibus rules), with their CRA action today.

The problem is, Congress does not have the power to revoke this waiver, because that’s not how the CRA works.

The CRA is an until-recently rarely-used Act which allows Congress to disapprove of recent rules set by a federal government agency, and bar that agency from implementing similar rules.

However, California’s waiver is not a rule from a federal government agency, it’s a waiver from the EPA to let California set its own rules. Therefore, the CRA doesn’t apply, as acknowledged by the Senate Parliamentarian, the Government Accountability Office, many, many other legal observers, and even Congress itself, where Senator Mike Lee voted to rescind the waiver, despite saying clearly that it “cannot be reviewed under the Congressional Review Act (CRA).”

It’s also outside the 60 day window allowed for review by the CRA. Stack another violation of law on top of the first one.

So, today’s action by Congress is illegal, and California is now going to court to stop it.

California announces lawsuit to protect clean air

Hot on the heels of republicans declaring their desire to raise health and fuel costs for Americans, and their opposition to clean air, California Governor Gavin Newsom came out with a response, committing to taking the issue to court, as California has done (and won) in the face of previous republican attacks on clean air.

Gov. Newsom declared his opposition to the republican plan to “Make America Smoggy Again” today, saying:

“This Senate vote is illegal. Republicans went around their own parliamentarian to defy decades of precedent. We won’t stand by as Trump Republicans make America smoggy again — undoing work that goes back to the days of Richard Nixon and Ronald Reagan — all while ceding our economic future to China. We’re going to fight this unconstitutional attack on California in court.”

-California Governor Gavin Newsom

California Attorney General Rob Bonta also spoke at the press conference, saying:

“With these votes, Senate Republicans are bending the knee to President Trump once again. The weaponization of the Congressional Review Act to attack California’s waivers is just another part of the continuous, partisan campaign against California’s efforts to protect the public and the planet from harmful pollution. As we have said before, this reckless misuse of the Congressional Review Act is unlawful, and California will not stand idly by. We need to hold the line on strong emissions standards and keep the waivers in place, and we will sue to defend California’s waivers.”

In its press release, the California Governor’s Office pointed to the decades of precedent upholding California’s waiver, which is protected by the Clean Air Act. It also pointed out that the California Air Resources Board was established under Governor Ronald Reagan, and waivers were first granted by President Richard Nixon.

Both of these individuals are republicans, though from a time before the party had fallen quite so far down the rabbit hole of openly wishing harm on Americans.

California goes on to talk about how Congress’ actions make driving less affordable by raising fuel and health costs, hand over the keys to the auto industry to China by slowing down the US auto industry’s transition to EVs, and harm the climate leadership of California, the most productive state and the 4th largest economy in the world, which has grown by 78% since the year 2000 while cutting greenhouse gas emissions by 20% since then.

California did not yet file the lawsuit, merely stated its intent to do so today. But courts have ruled in favor of California many times in the past in cases related to its authority to protect its own air, most recently doing so in December.

Clean air groups also offered their support for California’s lawsuit. The Environmental Defense Fund said:

“We stand with California’s leaders in protecting the health and safety of millions of people from harmful vehicle pollution. The state’s clean air standards for new cars and trucks protect children’s lungs and the communities where they grow up from smog and soot. They help farmers, builders, and others who work outdoors breathe easier. They reduce the climate pollution that fuels deadly wildfires, droughts, and other disasters. They save hard-earned money at the pump — and they save thousands and thousands of lives”

-Vickie Patton, General Counsel, Environmental Defense Fund

While the EDF did not yet join the lawsuit (as it hasn’t been filed), a number of nonprofits joined another California lawsuit against an illegal freeze on charging funds today, so we may expect future comment from the groups involved in that lawsuit.

On another note, republicans took action to cut the rooftop solar credit today. That means you could have only until the end of this year to install rooftop solar on your home, before republicans raise the cost of doing so by an average of ~$10,000. So if you want to go solar, get started now, because these things take time and the system needs to be active before you file for the credit.

To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here. – ad*

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Tesla Model Y compared to ‘Tesla killer’ Xiaomi YU7: it’s not even close

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10 hours ago

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May 22, 2025

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Tesla Model Y compared to 'Tesla killer' Xiaomi YU7: it's not even close

Here we compare the specs of the new Tesla Model Y (Chinese version) to the newly unveiled Xiaomi YU7, a vehicle dubbed the ‘Tesla killer’.

For years, we laughed at people using the term ‘Tesla killer’ for new electric vehicles. To this day, even as Tesla’s sales are declining, it’s a bit dumb to use the term since no single EV is going to “kill” Tesla.

However, there’s one that is as close to do it as we have seen so far.

Earlier this year, we reported on how Xiaomi’s first electric vehicle, the SU7, had a major negative impact on Tesla’s Model 3 sales in China.

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At the time, we reported that the bigger concern for Tesla was that the Chinese electronics giant was now planning to launch a new EV, the YU7, aimed at competing against Tesla’s popular Model Y.

The Xiaomi YU7 was unveiled today, and we can now provide a side-by-side specs comparison that highlights Tesla’s problem in China.

Tesla Model Y vs Xiaomi YU7

The only thing that is missing about the YU7 as of the time of writing is the price, but it is expected to be very similar to Model Y and even likely to undercut by a bit.

Specs Tesla Model Y RWD Tesla Model Y Long Range AWD Xiaomi YU7 Standard (RWD) Xiaomi YU7 Pro (AWD) Xiaomi YU7 Max (AWD)
Launch Date January 2025 January 2025 July 2025 (expected) July 2025 (expected) July 2025 (expected)
Price (CNY) ¥263,500 ¥303,500 ~¥250,000 (est.) Not announced Not announced
Price (USD) ~$36,600 ~$42,200 ~$34,700 (est.) Not announced Not announced
Dimensions (L x W x H) 4,797 x 1,920 x 1,624 mm 4,797 x 1,920 x 1,624 mm 4,999 x 1,996 x 1,600 mm 4,999 x 1,996 x 1,600 mm 4,999 x 1,996 x 1,600 mm
Wheelbase 2,890 mm 2,890 mm 3,000 mm 3,000 mm 3,000 mm
Weight 1,921 kg 1,992 kg Not specified 2,405 kg 2,405 kg
Powertrain Single motor RWD Dual motor AWD Single motor RWD Dual motor AWD Dual motor AWD
Power Output Not specified (est. 200-250 kW) Not specified (est. 350-400 kW) 235 kW (315 hp) 508 kW (681 hp) 508 kW (681 hp)
0-100 km/h 5.9 s 4.3 s 5.8 s 4.3 s ~3.2 s
Top Speed 201 km/h 201 km/h 240 km/h 253 km/h 253 km/h
Battery Type LFP NMC LFP LFP Li-ion ternary (CATL)
Battery Capacity ~62.5 kWh ~80 kWh 96.3 kWh 96.3 kWh ~101.7 kWh
Range (CLTC) 593 km 719 km 835 km 750 km 760 km
Charging Architecture 400V 400V 800V 800V 800V
Seating Capacity 5 (7 optional) 5 (7 optional) 5 5 5
Key Features – Updated design – Rear seat touchscreen – FSD-capable – Same as RWD – Higher performance – Panoramic HUD – HyperOS – Larger cabin – Same as Standard – Higher performance – Top-tier performance – Premium interior (assumed)
Autonomous Driving FSD with AI4 computer FSD with AI4 computer Nvidia Thor chip (700 TOPS) Nvidia Thor chip (700 TOPS) Nvidia Thor chip (700 TOPS)

These specs show that the vehicles are extremely similar. The main difference is that Xiaomi packs a lot more batteries into the YU7 than Tesla puts into the Model Y, resulting in a significant difference in range.

To be fair to Tesla, it still dominates in efficiency as it does more with fewer batteries, which is an important skill to have. However, most customers don’t care about that and want a longer range. They don’t care how you make it happen.

Another big difference is the design.

As we previously reported, the Tesla Model Y design refresh looks similar to other Chinese EVs.

Based on the online reception, the Model Y is viewed as having a more tired design that is not as luxurious as the YU7.

That’s particularly true of the exteriors.

It’s a similar situation in the interior, but Xiaomi also outshines Tesla here with more technology, like display along the dash:

Both vehicles feature a large center display where most of the controls are located.

Electrek’s Take

I think Tesla is in trouble in China. The competition is impressive and there are vehicles that clearly directly target Model Y, Tesla’s bread and butter, and there’s no better example than this one.

The only thing missing is pricing, but if it’s priced as expected, which is like the SU7 to the Model 3, it will make it a no-brainer for most buyers.

Also, Xiaomi often gets mentioned as a ‘Tesla killer’ because the vehicles are not only ultra competitive with Tesla, but it is also producing them in high volumes.

SU7 outsold the Model 3 within a year of launching. The YU7 is coming to market within the next 2 months, and it should reach impressive volumes that are going to put pressure on Tesla’s Model Y sales by the end of the year.

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Top $TRUMP holders head to crypto dinner with president that Democrats call ‘orgy of corruption’

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11 hours ago

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May 22, 2025

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Top $TRUMP holders head to crypto dinner with president that Democrats call 'orgy of corruption'

Jonathan Raa | Nurphoto | Getty Images

Nick Pinto is a marketing director at his family’s law firm in New Jersey. He’s also a crypto trader who spent enough money on Donald Trump’s meme coin to win a spot at a private black-tie dinner with the president scheduled for Thursday night.

“I was kind of early in bitcoin and ethereum, so I’ve always been trading crypto,” said the 25-year-old Pinto, who claims he finished number 72 on the leaderboard for the token contest. “Once I saw the announcement that Trump was releasing a coin, I immediately started to purchase it.”

Pinto said in an interview that he spent half a million dollars on the $TRUMP meme token in order to attend the dinner, which is being held at President Trump’s private golf club in Potomac Falls, Virginia, near Washington, D.C. Pinto shared screenshots with CNBC that appear to back up his claim.

The $TRUMP coin, which has no attached asset or underlying value, was launched just ahead of the president’s inauguration in January and has drawn heavy scrutiny from Democratic lawmakers who say President Trump is profiting from his position of power.

The dinner was announced last month and promised to reward the top 220 token owners with “the most exclusive invitation in the world.” The top 25 finishers were also told they would get a private reception with the president, as well as a “special VIP tour.”

President Trump hosts meme coin megadonors amid conflict of interest claims

Democratic senators called the competition a blatant example of “‘pay to play’ corruption” — the coin jumped 50% after the dinner announcement. Earlier this week, the Senate advanced a Trump-backed crypto regulation bill called the GENIUS Act after getting enough Democratic support to clear a potential filibuster.

Guests for Thursday night’s dinner were required to complete a background check, according to a copy of the invitation viewed by CNBC. Attendees were instructed not to arrive before 5:30 p.m., with the dinner starting at 7 p.m. and expected to last three hours.

Pinto doesn’t know what his investment in $TRUMP will get him other than the dinner. He said he thinks the tokens will be usable in a digital Trump golf game that was announced in December and is expected to launch next month, according to a press release.

“There’s a few things that I want to ask him,” Pinto said. “I definitely want to find out if he’s going to want to use this coin in the game. That’s probably my top question, because not many people know about that game.”

The Trump coin team didn’t immediately respond to a request for comment.

Because crypto wallets are pseudonymous, most participants in the competition appeared only as three- to four-letter usernames linked to cryptographic wallet addresses. Many of the winners are tied to international exchanges, according to blockchain analytics firm Inca Digital, raising concern that non-Americans may be paying for the opportunity to try and influence the U.S. president.  

While Pinto is going public about his participation, most of the identities tied to top wallets are unknown. Blockchain data shows that a majority of the top entrants used offshore exchanges barred to U.S. residents. An analysis by Bloomberg revealed that 19 of the top 25 wallets, and more than half of the top 220, are almost certainly owned by individuals operating outside the U.S.

The competition drew an estimated $148 million in purchases from supporters around the world, a massive fundraising haul for a digital asset launched just months ago. Among those attending is Justin Sun, the Chinese-born founder of the TRON blockchain, who confirmed this week that he is the contest’s top-ranked investor.

At current prices, Sun’s stake in $TRUMP is now worth more than $20 million. Sun was also one of the first major backers of World Liberty Financial, the Trump family’s crypto venture, buying at least $75 million of its native token “WLFI.”

In 2023, U.S. regulators accused Sun of illegally selling unregistered securities and artificially inflating token prices. A month into Trump’s second White House term, a federal court filing showed the SEC was in settlement talks with Sun to resolve the civil fraud charges.

Trump hosts exclusive gala for meme coin holders as lawmakers raise ethics concerns

Final leaderboard

MemeCore, a Singapore-based crypto network that was vocal in its quest to secure a spot at the Trump dinner, landed in second place with an investment of around $19.7 million, according to a post on X that the company later deleted. MemeCore didn’t immediately respond to a request for comment.

Some buyers didn’t make the cut.

Freight Technologies, a Houston-based logistics company, said it spent $2 million on $TRUMP tokens as part of what it called a strategic push to “champion fair and free trade” across the U.S.-Mexico border. The company still finished in 250th place. Freight trades on the Nasdaq as a penny stock and has a market cap of about $6.5 million.

The final leaderboard was calculated using a time-weighted formula that factored in both the size and duration of each participant’s holdings. That means early buyers who held onto their tokens consistently, like Pinto, could outrank bigger last-minute spenders.

Investors in $TRUMP, like with other meme coins, have to be prepared for big ups and downs.

Immediately after its launch in January, the Trump coin spiked to a $15 billion market cap before crashing within days. It’s currently worth about $2.1 billion.

That volatility has created stark winners and losers. Blockchain data shows that more than $5.2 billion in profits flowed to the top wallets, while over 590,000 wallets — mostly small retail traders — collectively lost nearly $4 billion.

Since January, more than $324 million in trading fees have been routed to wallets tied to the project’s creators, according to Chainalysis. The token’s code automatically directs a cut of each transaction to these addresses, allowing the team to profit from ongoing activity. The blockchain analytics firm stopped tracking the president’s meme token about two weeks ago, citing a need to refocus resources on paying clients.

The Trump family has reaped enormous financial benefit. Roughly 75% of proceeds from World Liberty Financial and more than 80% of profits from the meme coin have gone directly to the Trump Organization and affiliated entities. The project has also generated hundreds of millions of dollars in trading fees.

Senator Chris Murphy, D-Conn., has introduced legislation that would ban sitting presidents from profiting off meme coins while in office.

In a press conference hours before the dinner, Murphy warned that “just because the corruption is playing out in public where everybody can see, it doesn’t mean that it isn’t rampant, rapacious corruption.” He called tonight’s event “maybe the most corrupt, of all of the corruption.”

Sen. Elizabeth Warren, D-Mass., went further, describing the gathering as “an orgy of corruption” and accusing Trump of using the presidency “to make himself richer through crypto.” She called for changes to the GENIUS Act that would bar any president from profiting off stablecoin ventures.

With Republicans in control of both chambers of Congress, Democrats have limited ability to force action.

In response to CNBC’s questions about the dinner, Deputy White House Press Secretary Anna Kelly said, “The president is working to secure good deals for the American people, not for himself,” adding that he “only acts in the best interests of the American public.”

Pinto, who paid $500,000 for his invitation and still holds most of his tokens, said the risk is worth it.

“I didn’t put in more than I’m willing to lose,” he said. “I’m fine if it goes to zero.”

WATCH: Bitcoin surges to new record high above $111,000: CNBC Crypto World

Bitcoin surges to new record high above $111,000: CNBC Crypto World

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