Donald Trump has a meme coin, and he went out of his way to gather and praise all those who hold it

Trump hosted a highly anticipated “exclusive” dinner for the largest holders of his meme coin, “Official Trump,” at his golf club in Virginia on Thursday night.

Former President Donald Trump is known for his love of social media and his ability to connect with his supporters. Now, the two are merging as Trump is said to have invited the biggest holders of his meme coin to dinner at his golf club in Virginia on Thursday night.

According to Axios, Fight Fight Fight, LLC — a company linked to President Trump’s family — sold a digital token that gave anyone in the world a chance to pay for a night of access to the commander-in-chief, which has apparently shocked ethics experts and one Democrat called it “the biggest corruption scandal in the history of the White House.”

It seems like this dinner is a way for Trump’s backers to have unsupervised time with their investment, have conversations that may not be fit for the White House.

“We’ve never had a president actually try to raise money and get people to buy an interest in a venture of his at the same time that he’s sitting in the White House,” President George W. Bush’s ethics lawyer, Richard Painter, told Politico.

The former president launched his own meme coin, named “Official Trump” and available on the Solana blockchain in January. The coin, touted as the only official Trump meme token, quickly gained traction among his supporters and meme coin enthusiasts.

Announced on Jan. 17, the coin arrived in the midst of the meme coin frenzy sparked by tokens like PEPE and BALD.

Official Trump, or $TRUMP, is capped at 1 billion tokens, with 80% reportedly controlled by Trump-affiliated entities like CIC Digital LLC. The coin reached a peak price of $75.35 before settling around $14.28.

While the project has garnered massive trading volume and market interest, it has also been surrounded by controversy.

Ethical concerns have emerged regarding President Trump’s financial gains from the token and a high-profile gala dinner attended by top holders who paid over $1 million. Legal experts are examining potential violations related to anonymous crypto funding and foreign involvement in the project. Despite the controversy, the token remains actively traded on platforms like CoinDCX and Crypto.com, appealing to supporters and speculators. Investors are advised to approach it with caution due to its volatility and political ties.