More than 200 prominent cryptocurrency investors will gather for a private black-tie dinner with former President Donald Trump this Thursday at his exclusive Virginia golf club. This event follows a high-stakes campaign where participants invested millions in Trump’s meme coin, $TRUMP, to earn an invitation. The dinner is part of a VIP gala and features a speech from Trump. Analysts suggest that the funds raised—estimated at $140 million—have benefitted Trump’s personal business interests.
The event has been marketed as “the most exclusive invitation in the world,” with crypto investors vying for a chance to secure a seat at the dinner. Among the notable attendees is “Ice,” co-founder of the Singapore-based firm MemeCore, who secured a prominent place for the occasion. Many of the guests remain anonymous or are from overseas, with reports indicating that a significant portion of the top investors are based outside the U.S., including Chinese entrepreneur Justin Sun.
While the dinner has sparked excitement among investors, the value of $TRUMP has seen volatility. The coin initially surged in January, reaching over $75, before crashing to $7 by April. Following the announcement of the gala, its value spiked once again as investors rushed to get in on the action. However, the majority of $TRUMP holders have experienced significant losses. Reports from Chainalysis show that only 58 wallets made substantial profits, while the vast majority of investors have lost money.
Trump, who once expressed skepticism toward cryptocurrency, now refers to himself as the “Crypto President,” claiming to have reshaped U.S. crypto policy. Meanwhile, some critics argue that his involvement in the crypto market raises ethical concerns. With Congress currently debating the GENIUS Act, a major crypto regulation bill, some lawmakers have voiced concerns about potential conflicts of interest due to Trump’s business ties within the cryptocurrency sector.
Despite these controversies, White House spokesperson Anna Kelly has denied any wrongdoing, stating that President Trump is acting in the best interests of the American public. However, some members of Congress, such as Senators Cynthia Lummis and Elizabeth Warren, have raised alarms about potential corruption related to the former president’s crypto dealings.
