On Thursday, Donald Trump hosted a dinner for investors in his meme coin, igniting controversy as critics accused the US president of prioritizing personal gain.
Approximately 220 prominent investors in the $TRUMP meme coin gathered at Trump’s private country club in Northern Virginia for the exclusive event.
As Trump arrived, over a hundred protesters at the Trump National Golf Club displayed signs reading “America is not for sale,” “stop crypto corruption,” and “release the list.”
Massachusetts Senator Elizabeth Warren described the dinner, where Trump spoke for about half an hour and later danced to YMCA, as an “orgy of corruption.”
Donald Trump leaves the White House to attend his own meme coin gala. Pic: Reuters/Evelyn Hockstein
Entry to the dinner and audience with the president was contingent on purchasing enough of the $TRUMP meme coin to secure a seat.
The White House clarified that Trump attended the event “in his personal time,” though the lectern he spoke from bore the presidential seal.
NBC News reported that despite his remarks, Trump did not introduce any new crypto policies but expressed support for a potential bitcoin reserve before leaving promptly after the event.
In total, investors allocated around $148 million (£110 million), with the top 25 coin holders contributing over $111 million (£82.56 million), according to crypto intelligence firm Inca Digital.
A company influenced by the Trump family, alongside another firm, retains 80% of the remaining $TRUMP coins, reportedly earning $320.19 million (£238.14 million), inclusive of at least $1.35 million (£1 million) following the dinner announcement, as indicated by blockchain analytics firm Chainalysis.
‘Trump a very successful businessman,’ says White House
Blockchain analysis suggests that more than half of the 220 attendees at the black-tie event likely reside outside the US, raising allegations that the US president has sold access to foreign investors for personal benefit.
In response to criticisms regarding Trump’s office being leveraged for personal financial gain via the meme coin, White House press secretary Karoline Leavitt stated, “All of the president’s assets are in a blind trust, which is managed by his children.”
“I would argue that one of the many reasons the American people re-elected this president was because he was a very successful businessman before he gave it up to serve our country.”
Protesters gather outside Trump National Golf Course ahead of the dinner. Pic: Reuters
Trump arrives back at the White House after attending the crypto dinner. Pic: AP/John McDonnell
Who was on the guest list?
Notable attendees included Justin Sun, a billionaire crypto entrepreneur originally from China.
Sun captured first place in the dinner contest with his $18.5 million (£13.76 million) holding of the Trump meme coin and is recognized as the largest publicly known investor in the family’s crypto venture, which has reportedly generated hundreds of millions.
He shared videos of his visits to various areas of the White House grounds on Wednesday, and footage of Trump at the dinner on Thursday.
In February, the US Securities and Exchange Commission paused a fraud case against him from 2023, citing public interest.
Demonstrators protest near Trump National Golf Club before the arrival of the president. Pic: AP/Rod Lamkey Jr
Nonetheless, the majority of coin holders present at the gathering remain unidentified.
Among them was an individual known simply as Ogle, a crypto security expert who appears in interviews with a covered face wearing a bandana and sunglasses for identity protection.
Read more:
Why Trump’s South African farmer claims are inaccurate
Trump administration accepts $400 million plane as a gift from Qatar
Follow Trump100 on your podcast app 
Even some pro-Trump crypto advocates expressed concern that his personal involvement could undermine efforts to build credibility.
“It’s distasteful and an unnecessary distraction,” remarked Nic Carter, a Trump supporter and partner at the crypto investment firm Castle Island Ventures.
“We would prefer he focuses on passing reasonable legislation and leaves it at that.”
The evening concluded with an after-party titled “Meme The Night,” hosted by MemeCore, a Singapore-based meme-coin engagement company.