Recently, in Sterling, Virginia, US President Donald Trump hosted a dinner at his Trump National Golf Club, welcoming 220 of the top investors in his $TRUMP meme coin.
The event, described as “black-tie optional,” drew a mix of cryptocurrency enthusiasts, high-profile figures, and controversy, with luxury SUVs rolling up and tuxedo-clad attendees stepping into the spotlight.
However, outside the venue, over 100 protesters braved the weather, wielding megaphones and signs with messages like “America is not for sale” and “stop crypto corruption,” accusing the president of leveraging his position for personal gain.
The $TRUMP meme coin, launched in January, has been a polarizing venture.
To secure a seat at the dinner, attendees had to rank among the top 220 holders of the coin, with investments averaging $1.8 million per person, according to blockchain analytics firm Nansen.
The coin’s value, like many meme coins, has been volatile, peaking at $75 earlier this year before dropping to around $12.50 by the event date.
As guests arrived, the coin’s price dipped 6%, suggesting significant trading activity, before stabilizing.
Critics argue the event exemplifies a troubling trend of monetizing access to the presidency, with two Trump-affiliated companies, CIC Digital and Fight Fight Fight LLC, controlling 80% of the $TRUMP coin supply.
These entities have reportedly earned over $324 million in transaction fees since the coin’s inception, per Chainalysis data.
Notable attendees included former NBA star Lamar Odom, who promoted his own meme coin on X while navigating the protest line with an umbrella, and Justin Sun, a Chinese-born crypto entrepreneur who identified himself as the top $TRUMP holder with an $18.5 million investment.
Sun, previously sued by the U.S. Securities and Exchange Commission for fraud in 2023—a case paused in February 2025—also serves as an adviser to the Trump family’s World Liberty Financial crypto platform.
Bloomberg News reported that 56% of the top 220 coin holders purchased their tokens on foreign exchanges that claim to exclude U.S. customers, raising concerns about foreign influence.
The event’s guest list, largely anonymous due to blockchain pseudonyms, fueled further scrutiny, with Democrats like Senator Elizabeth Warren labeling it an “orgy of corruption.”
Protesters were joined by Senator Jeff Merkley (D-Ore.), who championed the End Crypto Corruption Act, introduced alongside Senate Minority Leader Chuck Schumer.
The proposed legislation aims to bar senior executive branch officials, including the president, from profiting off crypto ventures.
Merkley emphasized that elected officials should serve the public, not those “handing money across the table.”
The White House countered that Trump attended the event in his personal capacity and that his assets are managed in a blind trust by his children.
However, critics like Dan Weiner from the Brennan Center for Justice argue that the president’s exemption from standard conflict-of-interest laws enables such ventures, which would be illegal for most federal employees.
Attendees like Nicholas Pinto, a 25-year-old crypto trader who spent $500,000 to secure his spot, described the event as a unique opportunity, though he noted Trump’s brief 23-minute appearance and lackluster menu disappointed some.
The opulence was evident—Richard Mille watches were commonplace, Pinto observed—but the mood was subdued, with many attendees no longer holding significant $TRUMP coins.
The event also sparked legislative pushback, with Senate Democrats advocating for a ban on officials profiting from meme coins, fearing it could derail broader crypto regulation like the GENIUS Act.
Trump’s crypto endeavors, including his family’s stake in World Liberty Financial, have reportedly boosted his net worth by up to $2.9 billion.
While supporters view the dinner as a celebration of crypto innovation, critics see it as a stark example of influence-peddling, with the president’s brief speech offering little new policy insight beyond support for a potential bitcoin reserve.
As the crypto and web3 industry continues to shape political and economic landscapes, this event underscores the contentious intersection of wealth, power, and digital currency.