POTUS Hosts Exclusive Memecoin Dinner as Critics Slam Crypto Ties
U.S. President Donald Trump held a private dinner on Thursday night for top investors in his $TRUMP memecoin, drawing sharp criticism from Democratic lawmakers and protesters who labelled the event a glaring example of “crypto corruption.”
The gathering, which took place at Trump’s golf resort near Washington, D.C., welcomed 220 major token holders. According to the event’s webpage, the top 25 investors were granted access to a private meeting with Trump and a guided tour of the White House.
Trump arrived by helicopter, and while the media was barred from entering, social media posts from attendees revealed a podium outfitted with the presidential seal, suggesting Trump gave formal remarks.
Trump launched the $TRUMP memecoin just days before assuming office in January, reportedly boosting his net worth by billions.
The move has sparked intense scrutiny over potential conflicts of interest and ethics violations. However, the White House defended the president’s participation, stating he was attending in a personal capacity.
On Truth Social, Trump touted American dominance in the crypto space, declaring, “The U.S.A. is DOMINATING in Crypto, Bitcoin, etc.,” and vowed to preserve that lead.
Outside the venue, protesters braved the rain to voice their concerns, waving placards with slogans like “Stop Crypto Corruption” and “No Kings.” Earlier, a group of Democratic senators held a press conference demanding transparency on who attended the dinner. Senator Elizabeth Warren harshly criticised the event, accusing Trump of exploiting the presidency for personal financial gain through crypto ventures.
Data from analytics firm Inca Digital revealed many transactions involving the $TRUMP coin originated from foreign crypto exchanges not authorised for use in the U.S., raising red flags about international influence.
A public list of “winners” from the $TRUMP coin promotion displayed only wallet addresses and usernames.
The top-ranked investor was identified as “Sun,” widely believed to be Chinese-born blockchain entrepreneur Justin Sun, who has publicly stated he invested $20 million in the token.
Sun, who founded the TRON network, is currently under U.S. investigation for market manipulation. Regulatory action against him was paused in February under Trump-appointed officials, pending a potential settlement.
Sun was seen at the dinner in a video posted on X (formerly Twitter), stating, “Apparently, I’m at the VIP lounge waiting for the President to come with everybody.”
President Trump reportedly left the event just over an hour after his arrival.
Justin Unga of advocacy group End Citizens United blasted the dinner as a “slap in the face” to everyday Americans. “Some people call this a backdoor to corruption,” Unga said. “I’d say it’s the front door—with valet service and a red carpet.”
The event comes amid legislative momentum in the U.S. Senate to create clearer crypto regulations. Lawmakers recently advanced the GENIUS Act, a comprehensive bill aimed at setting up guardrails for stablecoins, which are tied to fiat currencies like the U.S. dollar.
Meanwhile, Trump’s business empire has been growing its crypto footprint. His sons, Donald Jr. and Eric, are leading efforts under a venture named World Liberty Financial, launched in late 2024 with strong backing from Middle Eastern investors. The firm’s leadership also includes Zach Witkoff, son of one of Trump’s key diplomatic advisers.
The Trumps have also made notable investments in Binance, the crypto exchange whose founder is reportedly seeking a presidential pardon to re-enter the U.S. market.
In a sign of continued enthusiasm for digital assets, Trump recently signed an executive order creating a Strategic Bitcoin Reserve, establishing official government holdings of the cryptocurrency.
Bitcoin surged past $111,000 on Thursday before dipping slightly—a move some analysts attribute to Trump’s growing influence over the crypto narrative in Washington.
