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Crypto investors who paid $1.7m for Trump event disappointed at meal
Crypto investors who paid $1.7m for Trump event disappointed at meal

Daily Mail​

time4 days ago

  • Business
  • Daily Mail​

Crypto investors who paid $1.7m for Trump event disappointed at meal

Guests who paid £1.3million for the 'most exclusive invitation in the world' have piled in on the meal served at President Trump's event for crypto investors. Dubbed 'worse than airline food', the black-tie evening was thrown in honour of the 220 buyers behind the US President's official cryptocurrency. The backers of the 'meme coin' are said to have netted Mr Trump and his family £109million ($148million). On the menu was 'pan-seared halibut with a citrus reduction, a filet mignon with demi glaze' but Nicholas Pinto said the food 'sucked'. The 25-year-old - who has self-titled himself as someone who 'does trading' - told Wired 'it was the worst food I've ever had at a Trump golf course' and 'the only good thing was bread and butter'. Water or Mr Trump's wine were the beverages on offer and seeing as he doesn't drink, Mr Pinto (pictured) had water all evening. He said his glass was only refilled once. A crypto blogger, Chris Skinner, similarly critiqued the meal online, posting 'this is what you get served (+ a 25-minute speech from a podium by the numbers with no depth on crypto)'. Steve Kovach, a CNBC correspondant, said he had eaten 'better food on Spirit Airlines' - a budget travel company in America. Another guest said the food was 'OK, but not top class' while one user online described the meal as something 'you'd get as a reward in prison for not stabbing anyone all week'. Crypto investors were extensively targeted during Mr Trump's presidential campaign in 2024, promising them extensive deregulation of the industry. Democrats and ethic experts criticised the event, calling it a way for Trump to enrich himself. But the president pushed back against the charge in remarks to guests, arguing that Hunter Biden and the Biden family made a fortune off the Oval Office. 'Ultimately, no matter what it is, I always put the country way ahead of the business,' he said, adding 'You can't say that about Hunter.' Trump pointed out President Joe Biden's son Hunter sold paintings for thousands of dollars: '500,000 for a painting.' Arriving late, Mr Trump is said to have given bland remarks about 'the whole crypto thing' during his 23-minute long speech for the event and frequently veered off topic. He wore the blue suit and red tie he had been wearing at the White House all day. Addressing his crowd, Mr Trump was reported to have said 'you believe in the whole crypto thing. A lot of people are starting to believe in it … This is really something that may be special. Who knows, right? Who knows – but it may be special'. He then told 'some of the smartest minds anywhere in the world' that cryptocurrencies has a 'great, great future'. His administration was also 'big believers' of the 'cutting edge' industry. He then left his Virginia golf club after about an hour - before taking any questions from his guests on Thursday. But the invitation promised the 25 biggest investors special access to the president via a private reception and special White House tour. 'FOR THE TOP 25 COIN HOLDERS, YOU are Invited to an Exclusive Reception before Dinner with YOUR FAVORITE PRESIDENT!,' the event's website reads. 'PLUS, We have separately by us arranged for a Special VIP Tour for you - so make sure you stay in town.' The average guest is said to have spent $1.78million (£1.3million) on the President's cryptocurrency that was launched three days before his inauguration, blockchain analytics company Nansen claimed. But top spenders cashed out more than $10 million on the investment, with those at the other end of the range contributing a mere $100,000. Justin Sun holds the top spot, spending $22 million in '$Trump coin'. The crypto billionaire was charged in 2023 for market manipulation and offering unregistered securities. These were dropped in February, weeks after Mr Trump came to office. Many of the investors in the cryptocurrency are foreign and it's unclear what kind of background check they went through in order to be near the ballroom. Many of the guests were anonymous as they bought the currency through pseudonyms, registering with user names to make their purchases. Some had to navigate a sea of protesters outside of the club, walking through the shouting throngs on their way into the event. Inside, guests were greeted by a poster featuring Trump in a tux, his fist upheld in his classic fight stance, with the words 'Fight Fight Fight' written in gold. The official website for the dinner describes it as 'the most exclusive invitation in the world.' The White House press secretary Karoline Leavitt reassured journalists on Thursday that it was 'absurd for anyone to insinuate this president is profiting off of the presidency' because of his history in business. 'All of the [resident's assets are in a blind trust, which is managed by his children,' she said in her press briefing. She blasted suggestions the president was profiting off his office. 'The president 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. This president was incredibly successful before giving it all up to serve our country publicly, 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,' she said. The $TRUMP memecoins are sold on exchange markets and the money does not go to Trump directly. But about 80 percent of $TRUMP coins are held by Trump Organization affiliates, meaning if they rise in value so does the president's portfolio. Trump's cryptocurrency also makes money for those groups simply by being traded. For every $TRUMP coin that's traded, a transaction fee is taken. Chainalysis, another cryptocurrency research firm, estimated the memecoin made nearly $900,000 in transaction fees within the first two days of the contest being announced.

'Worse than airline food': Crypto investors who paid $1.7m for Trump event furious at meal served
'Worse than airline food': Crypto investors who paid $1.7m for Trump event furious at meal served

Daily Mail​

time26-05-2025

  • Business
  • Daily Mail​

'Worse than airline food': Crypto investors who paid $1.7m for Trump event furious at meal served

Guests who paid £1.3million for the 'most exclusive invitation in the world' have piled in on the meal served at President Trump's event for crypto investors. Dubbed 'worse than airline food', the black-tie evening was thrown in honour of the 220 buyers behind the US President's official cryptocurrency. The backers of the 'meme coin' are said to have netted Mr Trump and his family £109million ($148million). On the menu was 'pan-seared halibut with a citrus reduction, a filet mignon with demi glaze' but Nicholas Pinto said the food 'sucked'. The 25-year-old - who has self-titled himself as someone who 'does trading' - told Wired 'it was the worst food I've ever had at a Trump golf course' and 'the only good thing was bread and butter'. Water or Mr Trump's wine were the beverages on offer and seeing as he doesn't drink, Mr Pinto had water all evening. He said his glass was only refilled once. A crypto blogger, Chris Skinner, similarly critiqued the meal online, posting 'this is what you get served (+ a 25-minute speech from a podium by the numbers with no depth on crypto)'. Steve Kovach, a CNBC correspondant, said he had eaten 'better food on Spirit Airlines' - a budget travel company in America. Another guest said the food was 'OK, but not top class' while one user online described the meal as something 'you'd get as a reward in prison for not stabbing anyone all week'. Crypto investors were extensively targeted during Mr Trump's presidential campaign in 2024, promising them extensive deregulation of the industry. Democrats and ethic experts criticised the event, calling it a way for Trump to enrich himself. But the president pushed back against the charge in remarks to guests, arguing that Hunter Biden and the Biden family made a fortune off the Oval Office. 'Ultimately, no matter what it is, I always put the country way ahead of the business,' he said, adding 'You can't say that about Hunter.' Trump pointed out President Joe Biden's son Hunter sold paintings for thousands of dollars: '500,000 for a painting.' Arriving late, Mr Trump is said to have given bland remarks about 'the whole crypto thing' during his 23-minute long speech for the event and frequently veered off topic. He wore the blue suit and red tie he had been wearing at the White House all day. Addressing his crowd, Mr Trump was reported to have said 'you believe in the whole crypto thing. A lot of people are starting to believe in it … This is really something that may be special. Who knows, right? Who knows – but it may be special'. He then told 'some of the smartest minds anywhere in the world' that cryptocurrencies has a 'great, great future'. His administration was also 'big believers' of the 'cutting edge' industry. He then left his Virginia golf club after about an hour - before taking any questions from his guests on Thursday. But the invitation promised the 25 biggest investors special access to the president via a private reception and special White House tour. 'FOR THE TOP 25 COIN HOLDERS, YOU are Invited to an Exclusive Reception before Dinner with YOUR FAVORITE PRESIDENT!,' the event's website reads. 'PLUS, We have separately by us arranged for a Special VIP Tour for you - so make sure you stay in town.' The average guest is said to have spent $1.78million (£1.3million) on the President's cryptocurrency that was launched three days before his inauguration, blockchain analytics company Nansen claimed. But top spenders cashed out more than $10 million on the investment, with those at the other end of the range contributing a mere $100,000. Justin Sun holds the top spot, spending $22 million in '$Trump coin'. The crypto billionaire was charged in 2023 for market manipulation and offering unregistered securities. These were dropped in February, weeks after Mr Trump came to office. Many of the investors in the cryptocurrency are foreign and it's unclear what kind of background check they went through in order to be near the ballroom. Many of the guests were anonymous as they bought the currency through pseudonyms, registering with user names to make their purchases. Some had to navigate a sea of protesters outside of the club, walking through the shouting throngs on their way into the event. Inside, guests were greeted by a poster featuring Trump in a tux, his fist upheld in his classic fight stance, with the words 'Fight Fight Fight' written in gold. The official website for the dinner describes it as 'the most exclusive invitation in the world.' The White House press secretary Karoline Leavitt reassured journalists on Thursday that it was 'absurd for anyone to insinuate this president is profiting off of the presidency ' because of his history in business. 'All of the [resident's assets are in a blind trust, which is managed by his children,' she said in her press briefing. She blasted suggestions the president was profiting off his office. 'The president 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. This president was incredibly successful before giving it all up to serve our country publicly, 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,' she said. The $TRUMP memecoins are sold on exchange markets and the money does not go to Trump directly. But about 80 percent of $TRUMP coins are held by Trump Organization affiliates, meaning if they rise in value so does the president's portfolio. Trump's cryptocurrency also makes money for those groups simply by being traded. For every $TRUMP coin that's traded, a transaction fee is taken. Chainalysis, another cryptocurrency research firm, estimated the memecoin made nearly $900,000 in transaction fees within the first two days of the contest being announced.

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