On May 22, 2025, President Trump hosted a grand dinner at his Virginia golf club for the largest investors in the $TRUMP meme coin. The luxurious event attracted 220 wealthy cryptocurrency holders and sparked huge controversy. Some called it a blatant bribe, and many questioned the ethical implications of profiting from the presidency.
The '$TRUMP Meme Coin' craze
$TRUMP meme coin was launched in January 2025, quickly becoming a $15 billion commodity thanks to Trump's social marketing engine. After experiencing a sharp decline of 86%, the meme coin surged by 50% following the announcement of a dinner in April. The dinner seats cost investors a total of $148 million, and top investors holding over $111 million did not waste any funds (referring to their investments being rewarded during the event).
Blurred guest list
Only those who use anonymous encrypted wallets know the identities of the celebrities present, such as a Chinese billionaire who cannot escape legal disputes in the United States, and a lawyer who defended Justice Clarence Thomas. A basketball star who was once an NBA player also attended. A significant portion of the guests were non-Americans, raising concerns about external influences. According to blockchain transaction analysis, currencies from other countries dominate the circulation of the currency.
It is clearly unacceptable from a moral perspective.
Critics, such as Democratic Senators Elizabeth Warren and Chris Murphy, even described the dinner as a "corrupt carnival." They further claimed that President Trump is willing to use his influence for economic gain, as his family company controls 80% of the $TRUMP coins and has earned a total revenue of $320 million from trading commissions since January.
Dissatisfied voices
Outside the Trump National Golf Club, protesters gathered, holding up banners and shouting slogans condemning the presidential dinner. Their dissatisfaction primarily targets the president for putting personal interests above the needs of the people. Some protesters had creatively designed signs, such as one that read "Fight, Fight, Fight," mocking a slogan promoting a website for $TRUMP during the dinner.
The president's brief appearance
Trump's appearance lasted only 23 minutes, during which he gave a speech, without revealing any new policies, but reiterated well-known cryptocurrency topics. He then left by helicopter, avoiding questions or photos with guests. The top 25 investors were able to have brief conversations at the VIP reception, but most guests were dissatisfied with the president's quick departure.
Wealth redistribution in blockchain
Blockchain analysis shows that the 60 largest wallets shared nearly $1.5 billion in profits, while approximately 764,000 smaller investors suffered losses. Following Trump's tweet, the volatility of cryptocurrencies allowed large holders to boost their profits. Opponents of inequality pointed out that there is a huge disparity between the profits and losses at the dinner, thus this event is seen as aimed at attracting Trump's inner circle to participate.
Concerns about internal politics
Historically, the emergence of foreign investors, notably blockchain entrepreneur Justin Sun, holding $75 million worth of Trump-related tokens, has sparked unease among lawmakers. What they don't like the most is that the dinner party is considered a powerful tool that enables non-US residents to influence U.S. policy, especially at a time when Trump is involved in TikTok's future development and Congress's decision to issue a possible ban.
The stablecoin bill threatened by the dinner party
The dinner event coincided with the debate on the stablecoin bill, which had previously received unanimous support but is now in jeopardy. Ms. Warren issued a warning that the president might use the bill to advance his cryptocurrency agenda, accusing Congress of enabling corruption. This clearly indicates that an increasing number of people are uneasy about the president's ties to finance.
The expansion of Trump's crypto empire
Recently, in addition to $TRUMP, President Trump has also been connected to the cryptocurrency world through other projects of his family, such as NFT collections, stablecoins, and a cryptocurrency mining business called "American Bitcoin," which have not been publicly disclosed. This has raised concerns and scrutiny for many, especially considering the transparency of his administration and potential conflicts of interest during his time in office.
Regulatory issues
$TRUMP coin has been classified by authorities as a "collectible," and therefore is not considered a security, exempting Trump's associates from disclosure obligations. However, opponents argue that this exacerbates the problem, as it leads to their uncontrolled accumulation of wealth. The initiative to prohibit the president from profiting from meme coins has encountered considerable opposition among Trump's supporters, complicating enforcement.
Public sentiment on social media
After announcing the coin on social media, public opinion was clearly divided. Some users praised the low price of the coin ($15.76) and predicted its value could reach $150, while opponents mocked the volatility of Bitcoin's price and mentioned its 86% drop. For example, some posts lamented the exclusivity of the dinner. One user mocked that "ordinary people" had no chance to attend the dinner, while Trump would extract liquidity from other cryptocurrencies because he is the "main character."
Polarized presidential term
By hosting a cryptocurrency gala, Trump publicly expressed his unconventional approach to governance, showcasing his emphasis on business and management to the world. Some supporters see this as a bold move. In contrast, those who believe his unconventional behavior is the source of his profits apparently view this event as a genuine revenue-generating activity. The outcome of this event will indicate whether the public still holds trust in the moral values of the government.
Grand event after the party
After the dinner, a company from Singapore called MemeCore was responsible for the "Meme The Night" event, aimed at promoting the dinner. Attendees had the opportunity to sign a poster commemorating the top players in the cryptocurrency world. Nevertheless, the grand scene of the event showcased the coin's appealing style resonating with contemporary culture, although its potential success in terms of economic returns remains uncertain.
Lawmakers demand accountability
Senators like Richard Blumenthal have sounded the alarm about the power-for-money dealings that are being peddled covertly. The proposed presidential ban on crypto profits, whose implementation remains unclear under Trump's allies, has become the focus of attention. The setting of the dinner, as well as the scene of the presidential seal hanging on the rostrum, are reminiscent of wanting to use the presidency for profit.
Investors' disappointment continues
Attendees of the dinner, such as crypto trader Nicholas Pinto, expressed dissatisfaction with the poor food and inadequate security at the event. Shortly after the dinner, the coin dropped by 16%, further exacerbating the frustration of investors who believed the "exclusive" dinner was a failure. Small investors who incurred losses expressed regret, believing that their speculative actions led to the losses.
Controversial legacy issues
Regarding Trump's cryptocurrency issues, it is clear that the presidential term led by Trump is unafraid to break norms. More importantly, the acceptance of the dinner could pose significant challenges to his administration, with opponents accusing him of placing personal wealth above public duties. If an investigation is launched, this incident could change the ethical standards in the political arena.
Future Outlook
The uncertainty surrounding the future of the $TRUMP coin means it will continue to fluctuate. Unless Trump's supporters continue to back him and his cryptocurrency agenda, lawmakers may impose stricter regulatory controls. This event, which is the focus of his presidential term, will certainly spark heated discussions and long-term debates about power, profit, and accountability.
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Trump's encryption dinner has sparked moral controversy
Written by: Sienna Wilson
Compiled by: Block unicorn
Foreword
On May 22, 2025, President Trump hosted a grand dinner at his Virginia golf club for the largest investors in the $TRUMP meme coin. The luxurious event attracted 220 wealthy cryptocurrency holders and sparked huge controversy. Some called it a blatant bribe, and many questioned the ethical implications of profiting from the presidency.
The '$TRUMP Meme Coin' craze
$TRUMP meme coin was launched in January 2025, quickly becoming a $15 billion commodity thanks to Trump's social marketing engine. After experiencing a sharp decline of 86%, the meme coin surged by 50% following the announcement of a dinner in April. The dinner seats cost investors a total of $148 million, and top investors holding over $111 million did not waste any funds (referring to their investments being rewarded during the event).
Blurred guest list
Only those who use anonymous encrypted wallets know the identities of the celebrities present, such as a Chinese billionaire who cannot escape legal disputes in the United States, and a lawyer who defended Justice Clarence Thomas. A basketball star who was once an NBA player also attended. A significant portion of the guests were non-Americans, raising concerns about external influences. According to blockchain transaction analysis, currencies from other countries dominate the circulation of the currency.
It is clearly unacceptable from a moral perspective.
Critics, such as Democratic Senators Elizabeth Warren and Chris Murphy, even described the dinner as a "corrupt carnival." They further claimed that President Trump is willing to use his influence for economic gain, as his family company controls 80% of the $TRUMP coins and has earned a total revenue of $320 million from trading commissions since January.
Dissatisfied voices
Outside the Trump National Golf Club, protesters gathered, holding up banners and shouting slogans condemning the presidential dinner. Their dissatisfaction primarily targets the president for putting personal interests above the needs of the people. Some protesters had creatively designed signs, such as one that read "Fight, Fight, Fight," mocking a slogan promoting a website for $TRUMP during the dinner.
The president's brief appearance
Trump's appearance lasted only 23 minutes, during which he gave a speech, without revealing any new policies, but reiterated well-known cryptocurrency topics. He then left by helicopter, avoiding questions or photos with guests. The top 25 investors were able to have brief conversations at the VIP reception, but most guests were dissatisfied with the president's quick departure.
Wealth redistribution in blockchain
Blockchain analysis shows that the 60 largest wallets shared nearly $1.5 billion in profits, while approximately 764,000 smaller investors suffered losses. Following Trump's tweet, the volatility of cryptocurrencies allowed large holders to boost their profits. Opponents of inequality pointed out that there is a huge disparity between the profits and losses at the dinner, thus this event is seen as aimed at attracting Trump's inner circle to participate.
Concerns about internal politics
Historically, the emergence of foreign investors, notably blockchain entrepreneur Justin Sun, holding $75 million worth of Trump-related tokens, has sparked unease among lawmakers. What they don't like the most is that the dinner party is considered a powerful tool that enables non-US residents to influence U.S. policy, especially at a time when Trump is involved in TikTok's future development and Congress's decision to issue a possible ban.
The stablecoin bill threatened by the dinner party
The dinner event coincided with the debate on the stablecoin bill, which had previously received unanimous support but is now in jeopardy. Ms. Warren issued a warning that the president might use the bill to advance his cryptocurrency agenda, accusing Congress of enabling corruption. This clearly indicates that an increasing number of people are uneasy about the president's ties to finance.
The expansion of Trump's crypto empire
Recently, in addition to $TRUMP, President Trump has also been connected to the cryptocurrency world through other projects of his family, such as NFT collections, stablecoins, and a cryptocurrency mining business called "American Bitcoin," which have not been publicly disclosed. This has raised concerns and scrutiny for many, especially considering the transparency of his administration and potential conflicts of interest during his time in office.
Regulatory issues
$TRUMP coin has been classified by authorities as a "collectible," and therefore is not considered a security, exempting Trump's associates from disclosure obligations. However, opponents argue that this exacerbates the problem, as it leads to their uncontrolled accumulation of wealth. The initiative to prohibit the president from profiting from meme coins has encountered considerable opposition among Trump's supporters, complicating enforcement.
Public sentiment on social media
After announcing the coin on social media, public opinion was clearly divided. Some users praised the low price of the coin ($15.76) and predicted its value could reach $150, while opponents mocked the volatility of Bitcoin's price and mentioned its 86% drop. For example, some posts lamented the exclusivity of the dinner. One user mocked that "ordinary people" had no chance to attend the dinner, while Trump would extract liquidity from other cryptocurrencies because he is the "main character."
Polarized presidential term
By hosting a cryptocurrency gala, Trump publicly expressed his unconventional approach to governance, showcasing his emphasis on business and management to the world. Some supporters see this as a bold move. In contrast, those who believe his unconventional behavior is the source of his profits apparently view this event as a genuine revenue-generating activity. The outcome of this event will indicate whether the public still holds trust in the moral values of the government.
Grand event after the party
After the dinner, a company from Singapore called MemeCore was responsible for the "Meme The Night" event, aimed at promoting the dinner. Attendees had the opportunity to sign a poster commemorating the top players in the cryptocurrency world. Nevertheless, the grand scene of the event showcased the coin's appealing style resonating with contemporary culture, although its potential success in terms of economic returns remains uncertain.
Lawmakers demand accountability
Senators like Richard Blumenthal have sounded the alarm about the power-for-money dealings that are being peddled covertly. The proposed presidential ban on crypto profits, whose implementation remains unclear under Trump's allies, has become the focus of attention. The setting of the dinner, as well as the scene of the presidential seal hanging on the rostrum, are reminiscent of wanting to use the presidency for profit.
Investors' disappointment continues
Attendees of the dinner, such as crypto trader Nicholas Pinto, expressed dissatisfaction with the poor food and inadequate security at the event. Shortly after the dinner, the coin dropped by 16%, further exacerbating the frustration of investors who believed the "exclusive" dinner was a failure. Small investors who incurred losses expressed regret, believing that their speculative actions led to the losses.
Controversial legacy issues
Regarding Trump's cryptocurrency issues, it is clear that the presidential term led by Trump is unafraid to break norms. More importantly, the acceptance of the dinner could pose significant challenges to his administration, with opponents accusing him of placing personal wealth above public duties. If an investigation is launched, this incident could change the ethical standards in the political arena.
Future Outlook
The uncertainty surrounding the future of the $TRUMP coin means it will continue to fluctuate. Unless Trump's supporters continue to back him and his cryptocurrency agenda, lawmakers may impose stricter regulatory controls. This event, which is the focus of his presidential term, will certainly spark heated discussions and long-term debates about power, profit, and accountability.