It was pitched as the last word crypto flex: purchase sufficient $TRUMP coin and also you simply may get dinner with the person himself. Now, that’s precisely what 220 crypto whales are getting: a non-public gala with former President Donald Trump at his golf membership close to Washington, D.C., on Could 22. All they needed to do was maintain onto sufficient of his meme coin, lengthy sufficient, to make the leaderboard. Nonetheless, critics say the Trump crypto dinner might blur the strains between political fundraising and digital asset promotion.
Prime $TRUMP whales are sitting on $174M in tokens
All set for background checks earlier than the Could 22 dinner + VIP tour with the massive man himself. pic.twitter.com/Lxx9icOSMu
— Jesse.LSD (@JesseWoodLSD) Could 13, 2025
However whereas some are celebrating, others are asking some very uncomfortable questions.
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How the Contest Labored
The setup was easy however pricey. The highest 220 wallets holding $TRUMP, weighted by time and quantity, secured themselves an invite to dine with Trump. The highest 25 get further perks, together with a VIP reception and behind-the-scenes entry.
Simply made it into the Prime 25 of the Trump Meme Contest—heading to the VIP Reception & Gala Dinner on Could 22 at Trump Nationwide Golf Membership DC, plus a non-public VIP tour the following day!Proud to assist President Trump’s pro-crypto imaginative and prescient. Web3 wants daring, decisive management to thrive… pic.twitter.com/u1h6Ur2I1I
— Sheldon (@sheldonbitmart) Could 13, 2025
In accordance with on-chain information, these wallets poured in a complete of $148 million price of $TRUMP cash throughout the contest. For some, it was a golden ticket. For others, a high-stakes gamble that didn’t fairly repay.
Winners and Losers
The $TRUMP coin soared in worth after the dinner contest was introduced. At one level, it peaked close to $75 earlier than falling again to round $14. That type of volatility is par for the course with meme cash, however it hit arduous this time.
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Roughly 593,000 wallets have misplaced cash because the coin’s January launch. In whole, round $3.9 billion in losses have been tallied throughout the board, displaying simply how skewed the distribution has been.
One dealer wins a dinner. 1000’s stroll away within the crimson. That’s crypto for you.
Trump Crypto Dinner: The Ethics Debate
Critics aren’t simply pointing to the worth swings. They’re pointing to the entire idea: a political determine providing non-public entry in change for crypto holdings.
Senator Richard Blumenthal has already launched an ethics inquiry, asking whether or not Trump’s contest crosses a line between marketing campaign gimmick and pay-for-access scheme. In spite of everything, entering into the identical room as a U.S. president, or a presidential candidate, is usually one thing that goes via much more filters than a pockets tracker.
Overseas Wallets within the Highlight
Then there’s the matter of who’s really attending. The highest $TRUMP holder isn’t primarily based within the U.S. It’s a pockets tied to HTX, a Seychelles-based change linked to Chinese language crypto entrepreneur Justin Solar.
That’s raised much more eyebrows, particularly with issues round overseas affect and nationwide safety. A few of the main wallets reportedly used platforms which are blocked within the U.S., which means these members might not even be home residents.
For a political dinner tied to somebody who is perhaps within the White Home once more subsequent yr, that’s a critical crimson flag for some lawmakers.
A Meal to Keep in mind
What began as a flashy meme coin promo has become a lightning rod for controversy. Trump’s crypto dinner is perhaps serving steak and shrimp, however it’s additionally serving up critical questions on cash, entry, and affect.
As crypto will get deeper into politics, the road between hype and ethics is getting more durable to attract, and this occasion would be the clearest instance of that but.
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Key Takeaways
Trump’s crypto dinner required members to carry massive quantities of $TRUMP tokens, with 220 wallets gaining entry after collectively spending $148 million.
The coin’s worth surged after the competition was introduced, peaking close to $75 earlier than falling to round $14, leaving an estimated 593,000 wallets within the crimson.
Critics have raised moral issues, accusing Trump of promoting political entry via a meme coin-based leaderboard system.
Senator Richard Blumenthal has launched an ethics probe to look at whether or not the dinner violates marketing campaign finance or pay-for-access norms.
The highest $TRUMP holder is reportedly linked to Justin Solar’s HTX change, elevating flags about overseas involvement and nationwide safety dangers.
The publish $148 Million Later, Trump’s Crypto Dinner Raises Eyebrows appeared first on 99Bitcoins.
