Donald Trump is hosting two crypto dinners this month, aiming to attract top $TRUMP token holders amid rising ethical concerns. The events promise private receptions and White House tours for elite attendees, fueling criticism from lawmakers who accuse Trump of selling access to his presidency. The discussions also highlight broader issues of transparency in political fundraising.
Former President Donald Trump is making waves in the crypto community this month with plans for not one but two dinners focused on cryptocurrency. The first event, a high-priced “Crypto & AI Innovators Dinner,” took place at Trump National Golf Club in Virginia and reportedly cost $1.5 million per plate. It was hosted by the super PAC MAGA Inc. and featured crypto enthusiast David Sacks among its guests. These events are closed to journalists, leaving many details closely held and tucked away from critical eyes.
On top of that, another gala dinner is set for May 22 for the largest holders of the $TRUMP meme coin at Trump’s club. This gathering invites the top 220 token holders, with the elite top 25 promised special access, including a VIP reception and a guided tour of the White House. The contest to qualify for this opulent evening closes on May 12; interested parties can track their rankings via a live leaderboard on the coin’s official site.
However, these exclusive events have raised eyebrows, especially among political circles. Lawmakers like Senator Elizabeth Warren and Representative Adam Schiff have voiced concerns about what they see as political access being auctioned off to wealthy cryptocurrency investors, in exchange for their financial backing. Their co-signed letter accused Trump of creating a platform that offers “exclusive access to the presidency” in return for substantial investments tied to one of his businesses.
Compounding these issues, Warren has also flagged Trump-related stablecoin USD1, which is backed by short-term U.S. Treasuries and spurred by a significant investment from Abu Dhabi’s MGX Group. Since its inception, this currency has rapidly climbed the ranks, now positioned as the world’s seventh-largest stablecoin. Warren dubbed the scenario as reeking of corruption, suggesting Trump and his family stand to gain personally while potential legislation favourable to them moves through the Senate.
Recent discussions around political fundraising are resurfacing as Trump’s events continue. Notably, the identities of the biggest holders of $TRUMP coins remain undisclosed, intensifying scrutiny from observers. Watchdog group Accountable.US has even characterized the leaderboard dinner as potentially the most egregiously corrupt scheme in modern presidential history, especially given claims that the tokens might be held by foreign entities.
According to their insights, the founder of Tron, Justin Sun, is suspected to be a major $TRUMP holder, while approximately 80% of the token’s supply is reportedly in the hands of Trump’s associates. Requests for comment have so far gone unanswered by the White House, adding another layer of mystery to the unfolding narrative.
Despite warnings and criticisms, interest in the $TRUMP token appears to be on the rise, with data from CoinGecko suggesting a more than 50% increase since the dinner plans first emerged. Yet it seems there’s a caveat: Should the May 22 dinner not go ahead for any reason—Trump’s attendance isn’t guaranteed—those who qualified will receive a Trump-themed NFT instead. It’s a fascinating yet controversial saga unfolding in the intersection of politics and cryptocurrency.
