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Gizmodo
23-05-2025
- Business
- Gizmodo
Trump Spent 20 Minutes at Crypto Dinner With People Who Paid $148 Million to Be There
They wanted to be in the room where it happens (and the "it" is corruption). Last night, Donald Trump hosted 220 of the biggest suckers you know for dinner. As part of a promotion for his cryptocurrency memecoin $TRUMP, the President of the United States let the top bag holders of his coin come hang out, including offering a private VIP reception with the 25 biggest 'investors.' According to the Wall Street Journal, the 220 who received invites spent a cumulative $148 million buying up $TRUMP before the event. The event, which was held at the Trump National Golf Club Washington DC in Potomac Falls, Virginia, was a real who's who of people who make you go 'I think I've heard of that person.' Perhaps the most famous person in the room was former NBA player Lamar Odom, who is now promoting his own memecoin. Others at the dinner included Brendan McCafferty, a guy CNN rather savagely called a 'self-described media executive,' and Jeffrey Zirlin of the failed Axie Infinity game that got hacked for $600 million. The Wall Street Journal noted that many of the attendees were foreigners, many of whom are big players in the crypto space. Others were looking to influence American policy—like Javier Selgas, the CEO of shipping company Freight Technologies, who made headlines by announcing plans to buy up $TRUMP to get a seat next to the president and try to advocate for easing tariffs. The biggest mark of the night, though, was Justin Sun, a Chinese-born crypto mogul who has made himself a bit of a central figure in the Trump crypto cinematic universe. Sun faced charges from the U.S. Securities and Exchange Commission for allegedly manipulating the price of his cryptocurrency $TRON. Earlier this year, Sun purchased $75 million worth of tokens from World Liberty Financial, the 'decentralized finance protocol' run by Trump's kids, and found his charges dropped. Sun was identified as the top holder of $TRUMP at the dinner event, holding about $18 million worth of the memecoin, and was awarded a 'Trump Golden Tourbillion' watch, according to CNN. By all accounts, the attendees did not get their money's worth out of the event. YouTuber CoffeeZilla, an investigative journalist in the crypto space, said he was told by attendees that the event was disappointing and 'wack.' Christoph Heuermann, a 'serial entrepreneur' who attended the event, said in an Instagram post that Trump gave a 20-minute speech and 'didn't interact with the crowd other than enjoying being celebrated. Even VIP token holders (I know some) couldn't speak or even shake hands with the president.' Don't worry, though: If you thought that was meant as a criticism of the whole charade, it wasn't. 'It was still well worth it to experience the president live and watch his mightily secured arrival and departure,' Heuermann wrote. Trump's short speech—which he made in front of the official presidential seal despite the White House claiming it was a 'private' event—seemed to be a classic rambling 'weave' of an address, recounting his 2024 presidential election victory and bragging about closing the southern border in between the occasion bit of red meat tossed to the crypto crowd, according to CNN. 'The Biden administration persecuted crypto innovators, and we're bringing them back into the USA where they belong,' he told the audience, per Fox News. As Trump welcomed the folks who are actively lining his pockets, protesters stood outside the gates of the Trump National Golf Club, denouncing the event as evidence of corruption and demanding the full guest list be released, according to the New York Times. Democrats have launched several efforts to force the President (and other politicians) to divest from cryptocurrency so they cannot use their office to profit through promotions like this. But until one of those bills actually goes somewhere, it seems like there are still plenty of people out there willing to give Trump money in exchange for little more than clout (and maybe a pardon down the line, if needed).
Fox News
23-05-2025
- Business
- Fox News
Trump holds swanky dinner for meme coin investors, says ‘Biden administration persecuted crypto innovators'
President Donald Trump hosted a swanky dinner last night for the top investors of his $TRUMP meme coin project, telling them "The Biden administration persecuted crypto innovators and we're bringing them back into the USA where they belong," reports said. The event at the Trump National Golf Club Washington DC in Potomac Falls, Va., was open to the 220 largest buyers of Trump's meme coin, with the top 25 getting "an ultra-exclusive private VIP reception with the President." The Wall Street Journal, citing blockchain analytics firm Inca Digital, reported that around $148 million worth of $TRUMP was purchased by investors to win seats at the dinner, where guests had to pass background checks. "The Biden administration persecuted crypto innovators, and we're bringing them back into the U.S.A. where they belong," it quoted Trump telling the audience Thursday night, who dined on filet mignon and halibut. Protesters gathered outside the club holding signs that said "stop crypto corruption" and "no corrupt fools." "The past administration made your lives miserable," Trump was also quoted by the New York Times as saying, in reference to President Biden's regulations against cryptocurrency. "There is a lot of sense in crypto. A lot of common sense in crypto," Trump reportedly added. "And we're honored to be working on helping everybody here." According to participants' posts on social media, Trump spoke for about half an hour before dancing to the song "YMCA." Despite the White House insisting that Trump would be attending the event "in his personal time," he stood behind a lectern with the presidential seal. Three days before Trump took office on Jan. 20, he announced the creation of the $TRUMP meme coin, describing as a way for his supporters to "have fun." Trump's meme coin saw an initial spike in value, followed by a steep drop. Its creators, which include an entity controlled by the Trump Organization, have made hundreds of millions of dollars by collecting fees on trades, according to the Associated Press. Critics have raised concerns that the president's connection with cryptocurrency ventures could open the door to conflicts of interest and influence peddling. When asked by a reporter Thursday if "anyone in the White House or in the White House counsel's office advise the president against holding this sweepstakes, whereby people who spent the most money on his Trump coin would then have access to the president at this time", Press Secretary Karoline Leavitt said Trump "is abiding by all conflict-of-interest laws that are applicable to the president." "And I think everybody, the American public, believe it's absurd for anyone to insinuate that this president is profiting off of the presidency," she added. "This president was incredibly successful before giving it all up to serve our country publicly. And not only has he lost wealth, but he also almost lost his life. He has sacrificed a lot to be here, and to suggest otherwise is, frankly, completely absurd." The biggest investor in Trump's meme coin, Chinese billionaire Justin Sun – who spent more than $40 million -- told the New York Times outside of the event Thursday that "I'm very excited to meet him and discuss about crypto's future." Among those protesting outside the golf club were Sen. Jeff Merkley, a Democrat from Oregon. "This is the crypto corruption club," Merkley was quoted by the Times as saying. "This is like the Mount Everest of corruption."
Bloomberg
20-05-2025
- Business
- Bloomberg
Crypto Entrepreneur Justin Sun Will Join Trump's Memecoin Dinner
Controversial crypto entrepreneur Justin Sun announced that he's joining a high-profile dinner with the US President Donald Trump later this week. Sun, the China-born founder of the Tron blockchain, said on the social media platform X that he is the top holder of TRUMP coin, a memecoin launched by Trump-linked entities, and will be attending the dinner at Trump National Golf Club in Potomac Falls, Virginia, on Thursday. Sun did not immediately respond to a request for comment.
