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Cryptocurrency News Articles

If you're looking for one image to summarize the grifter's paradise that was Donald Trump's cryptocurrency dinner Thursday night, behold:

May 24, 2025 at 03:22 am

The event was a private dinner with the president at Trump National Golf Club, where "investors" spent an estimated $148 million on the $TRUMP meme coin to secure their seats ... with the top-25 holders spending more than $100 million.

If you're looking for one image to summarize the grifter's paradise that was Donald Trump's cryptocurrency dinner Thursday night, behold:

A private dinner with President Donald Trump at Trump National Golf Club on Thursday night had "investors spend an estimated $148 million on the $TRUMP meme coin to secure their seats ... with the top-25 holders spending more than $111 million," according to a report by Reuters.

The report added that the Trumps have made $320.19 million in fees from their meme coins, according to analysis by crypto researcher DeFiNodeName.

The report comes as the president has been focused on slashing social programs and raising taxes on the poor in order to fund his beloved military and provide tax breaks for the rich in his proposed 2024 budget, which the House voted on Thursday.

Those programs include food aid and health care, according to an analysis of the president’s proposed budget by the Center on Budget and Policy Priorities.

The news outlet also noted that the president’s budget proposal would increase taxes on lower-income Americans by an average of $1,000 per year, while cutting taxes for higher-income Americans by an average of $70,000 per year.

"These proposals would have a devastating impact on low- and moderate-income families, while providing substantial tax cuts to wealthy families and corporations and deep cuts to programs that provide essential services to vulnerable Americans," the group said in a statement.

"The president’s proposals would also drastically reduce funding for programs that provide food assistance, housing assistance, and health care to millions of Americans."

The president’s budget proposal is a return to the Gilded Age, an era marked by immense wealth inequality and widespread corruption, in which powerful railroad barons, oil magnates, and steel tycoons exploited workers and consumers to amass vast fortunes.

It is also an era that saw the rise of political machines and pay-for-play schemes, as wealthy donors used their money to buy influence and favors from elected officials.

And indeed, images of the president’s private dinner at Trump National Golf Club, where investors in his meme coin paid to spend a few minutes with the president, encapsulate this Gilded Age corruption.

The dinner, which was held in the opulent ballroom of the Trump National Golf Club, was a lavish affair, with a menu that included caviar, lobster, and champagne.

The guests, who were all dressed in their finest attire, mingled and chatted in the candlelit ballroom, as a small orchestra played classical music in the background.

The president arrived at the dinner in his personal helicopter, which landed on the golf course. He was greeted by cheers from the guests, who had paid a steep price to secure their place at the table with the president.

The president’s private dinner is just one example of the many ways in which the rich and powerful are able to use their money to gain access to and influence the political system.

This blatant corruption and inequality are eroding the fabric of American democracy and society. It is past time for a return to the values of fairness, opportunity, and shared prosperity that have always defined the best of America.

After the dinner, the president went to the White House, where he was asked by MSNBC whether he had actually gifted Justin Sun, a MAGA-aligned crypto bro, a Trump Gold Tourbillon — a Trump-branded watch that retails for $100,000 — at the event. The White House didn’t immediately respond to MSNBC’s question.

However, Sun said he was "awarded" the timepiece, which he identified as a Trump Gold Tourbillon, by the president at the fundraiser for his 2024 campaign.

"I am the #1 holder of $TRUMP and I have been awarded the Trump Gold Tourbillon at today’s dinner," he wrote in a post on X, formerly known as Twitter.

"It was an honor to meet President Trump and discuss how blockchain technology can be used to create a better future for all."

According to crypto intelligence firm Inca Digital, guests at the dinner spent an estimated $148 million on the $TRUMP meme coin to secure their seats at the event.

The report added that the top-25 holders of the $TRUMP meme coin, which is a token that is designed to be a parody of the $MEME token, spent more than $111 million on the token.

The $TRUMP meme coin has been a major source of income for the Trumps, who have made $320.19 million in fees from their meme coins, the report said,

The president’s meme coins are part of a broader trend of cryptocurrency investment, which has become increasingly popular in recent years.

Cryptocurrency is a digital or virtual currency that uses cryptography for security and is typically decentralized, meaning it is not subject to government or institutional control.

The use of cryptocurrency for political fundraising is a new and interesting development that could have significant implications for the campaign finance system.

Original source:msnbc

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