Buyers of President Donald Trump’s meme coin are gathering from across the globe this Thursday for an exclusive dinner at his private country club, perched on the banks of the Potomac River just outside Washington, D.C. The event promises to be a high-profile affair, drawing some of the biggest names in the crypto world.
One standout attendee is Justin Sun, the China-born crypto entrepreneur who earned his spot by winning the dinner contest with an $18.5 million wallet. Sun isn’t just a major investor; he also serves as an adviser to World Liberty Financial, the Trump family’s crypto platform that has reportedly generated hundreds of millions in revenue for them. Just a day before the event, Sun shared a video of his visit to the Executive Office Building near the White House. Interestingly, the U.S. Securities and Exchange Commission recently paused a 2023 fraud case against him, citing public interest.
Though Sun declined to comment on the dinner, he expressed gratitude for the invitation on social media platform X. The SEC remained silent on the matter.
Altogether, investors have poured an estimated $148 million into the $TRUMP meme coin to secure their seats at this exclusive gathering. According to crypto intelligence firm Inca Digital, the top 25 holders alone account for more than $111 million of that sum. These privileged investors will enjoy a private VIP reception with Trump himself, while the four largest backers will be rewarded with a limited edition Trump Tourbillon watch, valued at $100,000.
Behind the scenes, the Trump family controls a company along with another firm that collectively hold 80% of the remaining $TRUMP coin supply. Blockchain analytics firm Chainalysis reports these entities have earned over $320 million in fees so far, including at least $1.35 million following the dinner announcement.
The event’s guest list spans the globe, with more than half of the 220 holders attending likely based outside the United States, as blockchain data suggests. In response to critiques accusing Trump of using his office to enrich himself through the meme coin, White House spokeswoman Karoline Leavitt clarified, “All of the president’s assets are in a blind trust, managed by his children. Many Americans re-elected this president because of his business success prior to serving the country.”
Leavitt also emphasized that the dinner is a private affair held during Trump’s personal time. “It is not a White House dinner nor hosted at the White House,” she added.
Requests for comment from the Trump Organization went unanswered.
Vincent Liu, chief investment officer at Taiwan’s Kronos Research, a crypto market maker, will attend the banquet hoping to network with other major holders and perhaps even meet the president. “Access like this is rare and shows how digital assets are increasingly entering the mainstream,” Liu noted.
Sheldon Zia, founder of the Cayman Islands-based crypto exchange BitMart, announced on X that as a top 25 holder, he will participate not only in the dinner but also a private VIP cocktail reception beforehand and a private tour the following day. Initially, the event was said to include a White House tour for the VIPs, though this detail was later removed from the $TRUMP meme website.
Among the domestic supporters attending is Vincent Deriu, a 27-year-old New York consultant and devoted Trump collector. Deriu boasts an impressive collection of Trump merchandise, including watches, sneakers, and over 50 NFTs. He secured his dinner spot for $116,000.
Meanwhile, senior Democratic lawmakers led by Maxine Waters, ranking member of the House Financial Services Committee, introduced new legislation dubbed the “Stop The Rug Pulls by Unethical Members and Presidents Act.” The bill seeks to prohibit elected officials from owning or overseeing digital asset businesses. They raised concerns that Trump’s meme coin dinner, with its foreign-linked wallets and no press access, poses risks of foreign influence, national security threats, and corruption at the heart of Trump’s crypto ventures.
Despite the bill’s introduction, the Democratic Party’s chances of passing it are slim, given Republican control of Congress.
Trump’s growing suite of crypto projects now includes an exchange, a stablecoin, bitcoin mining, and digital asset ETFs, but the meme coin draws the harshest scrutiny. Critics accuse it of enabling presidential self-enrichment through an unregulated industry and courting foreign influence by allowing anonymous purchases for exclusive access.
The White House has repeatedly defended Trump, with Deputy Press Secretary Anna Kelly stating, “The president’s assets are in a trust managed by his children. There are no conflicts of interest.”
Even some allies voice unease. Republican Senator Cynthia Lummis, a staunch crypto advocate, admitted the dinner “gives her pause.”
Since the $TRUMP meme coin’s launch in January, profits have disproportionately favored big investors. Over 60 large wallets have collectively earned nearly $1.5 billion, with $48 million in gains after Trump promoted the contest on social media. Conversely, approximately 600,000 smaller wallets have suffered losses totaling $3.87 billion, including $117 million after the dinner announcement, based on analysis from Inca Digital and Bubblemaps as of May 8.
The high-stakes world of Trump’s meme coin dinner underscores the growing complexities and controversies surrounding digital assets, power, and influence in today’s political and financial arenas.
