In a highly controversial event, US President Donald Trump hosted an exclusive private dinner Thursday night for major investors in his personal cryptocurrency, $TRUMP memecoin, prompting sharp backlash from political opponents and activists who labeled the gathering a “spectacle of corruption.”
Held at Trump’s golf resort near Washington, the closed-door affair brought together 220 top investors, with the most elite 25 receiving a private session with the president and a White House tour. The event excluded media but featured imagery shared online showing Trump speaking at a podium bearing the presidential seal.
Trump’s team insisted he attended the dinner in his “personal capacity,” but critics are calling out the blurred lines between his public office and private financial interests. The president launched the \$TRUMP coin just days before his January inauguration, swiftly adding billions to his net worth and drawing scrutiny from ethics watchdogs.
Protesters braved poor weather outside the venue, brandishing signs like “No Kings” and “Stop Crypto Corruption.” Meanwhile, Democratic lawmakers, led by Senator Elizabeth Warren, denounced the gathering at a press conference earlier in the day. “This is not leadership, it’s profiteering,” Warren said. “Trump is abusing the presidency to line his pockets.”
A list of “official winners” posted online named wallet addresses and usernames, with the top spot going to “Sun” — reportedly Chinese-born entrepreneur Justin Sun, who claims to have invested \$93 million across Trump-affiliated crypto ventures. Sun, currently facing a paused market manipulation probe in the U.S., posted a video in a tuxedo from the event, awaiting Trump in what he called the VIP lounge.
Data firm Inca Digital revealed many memecoin purchases were funneled through overseas exchanges not accessible within the U.S., raising red flags about foreign influence.
Critics say the event is symbolic of deeper problems. “This isn’t a backdoor to corruption — it’s the front door, with valet parking,” said Justin Unga of advocacy group End Citizens United.
The gala coincides with growing momentum in the Senate behind new crypto regulations, including the GENIUS Act, which aims to provide structure for stablecoins. At the same time, Trump and his family are expanding their crypto ventures, with sons Donald Jr. and Eric reportedly involved in deals via World Liberty Financial — a Trump-backed entity with ties to Middle Eastern investors and crypto platform Binance.
As Bitcoin surged to a record \$111,000 this week, Trump doubled down on his pro-crypto stance, signing an executive order to create a government “Strategic Bitcoin Reserve.”
Despite public criticism, the president declared on Truth Social: “The U.S.A. is DOMINATING in Crypto, Bitcoin, etc. We’re going to KEEP it that way!”
