At Trump National Golf Club just outside Washington, D.C., over 200 guests gathered for an extravagant black-tie dinner on Thursday. What brought them together? The $TRUMP meme coin.
To get in, investors spent a combined $148 million on the coin—earning themselves not only dinner but also access to Donald Trump himself.
The biggest name of the night was Justin Sun, a billionaire crypto investor who spent $18.5 million to take the top spot. He shared videos of his tuxedo-clad entrance on social media but kept quiet otherwise.
Trump arrived in dramatic fashion—flying in by Marine One helicopter. During his speech, he praised the crypto community and criticized the Biden administration for “pushing innovation out of the country.” He said his goal is to bring crypto leaders back to the U.S.
VIP Treatment for Crypto’s Investors
The top 25 investors—who together spent more than $111 million—enjoyed exclusive perks. These included a private reception with Trump, luxury Trump-branded watches worth $100,000 each, and a gourmet menu featuring filet mignon and halibut.
According to blockchain analytics, over half of the attendees were from outside the U.S.
Meanwhile, companies tied to the Trump family hold 80% of the remaining $TRUMP coin supply and have already made over $320 million in fees.
While some viewed the event as a chance to network and celebrate crypto success, others—especially political opponents—saw it differently.
Backlash and Big Losses for Small Investors
Critics were quick to respond. Democratic lawmakers called the event unethical, and some warned it could blur the lines between politics and personal gain.
Even Republican Senator Cynthia Lummis, a supporter of digital assets, said the dinner raised concerns.
One guest known as “Ogle,” a masked crypto advisor, said he attended out of curiosity and for his past work helping victims of crypto scams. He holds $3.6 million in $TRUMP coins.
But while the big investors walked away with exclusive rewards, smaller holders were left in the dust.
Around 600,000 wallets have lost nearly $3.9 billion, with $117 million in losses reported after the dinner was announced. In contrast, the largest wallets made close to $1.5 billion in profit.
The evening ended with an after-party titled “Meme The Night,” hosted by Singapore-based MemeCore. One of its co-founders, known only as Ice, spent $16 million just to attend.
Now, with Trump launching even more crypto ventures—including a stablecoin, exchange, and digital asset ETFs—watchdogs and lawmakers are urging more regulation.
Critics say it’s a troubling mix of politics and personal profit, with no clear line between them.
