Donald Trump Hosted a Black-Tie Dinner for Top $TRUMP Meme Coin Investors at His Virginia Golf Club

In what's being dubbed one of the most extravagant political-crypto crossovers in history, President Donald Trump hosted a black-tie dinner

In a lavish event that has sparked serious legal and ethical questions, former President Donald Trump hosted a black-tie dinner for top investors of the $TRUMP meme coin at his Virginia golf club on Thursday.

The gala, which brought together 220 investors who collectively spent an estimated $148 million to secure their seats, was a blend of high finance and political spectacle. It also saw the presidential seal used during an address, contradicting claims the event was on Trump’s personal time.

According to U.S. law, the presidential seal cannot be used in a way that implies government endorsement or is leveraged for personal gain. Violations could result in fines or up to six months in jail.

“The use of the presidential seal at a crypto fundraiser raises serious ethical and legal questions,” said Sen. Richard Blumenthal (D-CT), who called the dinner “an unprecedented pay-to-play scheme.”

The gala at Trump National Golf Club on May 22 was a hot topic among lawmakers this week, with some raising concerns over foreign influence and emoluments.

Altogether, 35 House Democrats penned a letter to the Justice Department urging an investigation into whether foreign nationals — including major investors like China-born crypto mogul Justin Sun — had contributed to the event or were granted special access.

U.S. law prohibits foreign entities from contributing to political campaigns or influencing domestic elections.

Sun, who was the largest known investor in the $TRUMP token with holdings exceeding $18 million, received a $100,000 limited-edition Trump Tourbillon watch during the event.

Despite facing previous fraud allegations from the SEC — now paused — Sun shared his appreciation on X, stating he was “grateful for the invitation.”

Trump: ‘We’re Bringing Crypto Back to the USA’

During his remarks at the gala, Trump framed the event as part of a broader effort to support cryptocurrency innovation in the United States.

“I always put the country way ahead of the business,” Trump told the cheering audience. “The Biden Administration persecuted crypto innovators — we’re bringing them back into the USA where they belong.”

Videos from the gala show Trump arriving via Marine One and delivering a speech filled with trademark bravado, touting his 2024 re-election victory and attacking Vice President Kamala Harris’s border policies.

“We have the strongest border ever,” he declared. “We took a border that was like an open sieve and made it strong.”

Despite his fiery rhetoric, Trump kept a professional distance during the event. As attendee Christoph Heuermann posted, “Even VIP token holders couldn’t speak or shake hands with the president. It was still worth it to experience him live.”

Who Attended the $TRUMP Memecoin Dinner?

The invite-only dinner was marketed as a reward for the largest holders of the $TRUMP token. Guests had to pass background checks and arrived to a red-carpet experience featuring signs of Trump with slogans like “Fight, Fight, Fight.”

Attendees included a diverse mix of global crypto professionals — from exchange executives to fund managers. Former NBA player Lamar Odom also made an appearance, although he was met with scattered boos.

Some investors, like marketing executive Nick Pinto, reportedly spent over $500,000 on $TRUMP tokens to qualify for the dinner.

The top 25 investors enjoyed a private VIP reception with the president before the main event, while blockchain firm Inca Digital reported that their collective contribution exceeded $111 million.

Still, despite the opulence, not everyone left impressed. One attendee told CNBC that the food “sucked” and claimed event security was surprisingly “lax.”

The Money Behind the Meme

According to Chainalysis, a company controlled by the Trump family — along with a partner firm — holds 80% of the $TRUMP coin’s remaining supply. The two entities have reportedly earned over $320 million in Trump-branded crypto ventures, with more than $1.3 million generated just after the dinner announcement.

Critics argue this demonstrates a direct financial link between Trump’s political brand and his crypto endeavors — a connection that could further blur ethical lines.

But White House Press Secretary Karoline Leavitt rejected that narrative.

“All of the president’s assets are in a blind trust, managed by his children,” she said. “It’s absurd for anyone to insinuate that this president is profiting off the presidency.”

Leavitt also clarified that the event was not an official government function, emphasizing, “It ain’t happening at the White House.”

$TRUMP Price Drops as Protesters Gather

Ironically, just hours after the high-profile gala concluded, the $TRUMP coin’s price dropped by 16%, reflecting the volatility often associated with meme coins. Protesters gathered outside the venue with signs reading, “America is not for sale” and “Stop crypto corruption.”