President Donald Trump held an exclusive black-tie dinner on May 22 at his Sterling, Virginia golf club. He welcomed 220 cryptocurrency investors who had spent a total of $148 million on his $TRUMP meme coin. While the event boosted Trump’s business and the crypto industry, it also raised serious ethics concerns.
🎁 VIP Guests Received Watches and Special Access
This dinner wasn’t just a celebration — it was a reward. The top 25 investors, who together spent over $111 million, got private access to Trump. The top 4 also received a limited edition Trump Tourbillon watch, each worth $100,000.
🚁 Trump’s Arrival and Private Setting
Trump arrived in style, landing by Marine One at around 7 p.m. ET. He stayed for just over an hour. Since it was considered a personal event, the media was not allowed, and no guest list was released.
🪧 Protesters Push Back Outside the Club
Meanwhile, outside the golf club, around 100 protesters gathered with signs like “Stop Crypto Corruption” and “America is Not for Sale.” They included Democrats and ethics experts, calling out the event as a conflict of interest.
Senator Jeff Merkley (D-OR), one of the protesters, said, “This dinner is a clear example of selling government access for personal gain.”
💼 Trump’s Link to the $TRUMP Coin
It’s important to note that Trump-connected companies — including the Trump Organization — reportedly own 80% of the $TRUMP coin. Many ethics experts say this raises serious concerns about how he might profit while in office.
Donald Sherman, head of Citizens for Responsibility and Ethics in Washington, said, “This is one of the worst examples of selling presidential access I’ve ever seen.”
🇨🇳 Chinese Billionaire Among the Guests
Although the guest list wasn’t public, Justin Sun, a billionaire from China, announced he would attend. Sun, worth $8.5 billion, has faced a lawsuit from the SEC. He’s also one of the biggest buyers of Trump’s crypto, investing at least $75 million.
📈 Big Profits After Dinner Announcement
After news of the dinner broke, Trump-linked businesses reportedly made over $1.3 million in trading fees, according to Chainalysis. This has furthered claims that Trump is using his role to boost his own financial interests.
🛡️ White House Responds to Criticism
Despite the backlash, White House officials defended Trump. Press Secretary Karoline Leavitt said the dinner was on Trump’s personal time and followed all ethics laws.
Anna Kelly, another White House spokesperson, said, “President Trump is working for the people — not himself.” She added that voters re-elected him because they trust him to make strong business decisions for the country.
💡 Trump’s Push for Crypto Leadership
Trump has made cryptocurrency a key part of his second term. Earlier this year, he launched the $TRUMP coin, held a White House crypto summit, and signed an executive order to create a Strategic Bitcoin Reserve.
He told a crowd at the 2024 Bitcoin Conference that he wants the U.S. to become the world’s crypto leader. Still, his personal investments have made many people uncomfortable.
🌍 Global Deal Raises More Concerns
Recently, one Trump-backed coin was used in a $2 billion investment from Abu Dhabi into crypto exchange Binance. Analysts say this could earn Trump-linked firms $27 million each year.
Because of this, Senator Richard Blumenthal (D-CT) launched an investigation into Trump’s crypto activities. He warned, “This event is basically putting a ‘For Sale’ sign on the White House.”
✅ Summary
Trump’s crypto dinner brought in huge investments and showed his growing support for the industry. But at the same time, it raised ethical red flags. Many now wonder: Is the presidency being used to build personal wealth?
