President Donald Trump's Recent Dinner With Backers of a Meme Coin Project Is Under Legal Scrutiny

Trump hosted more than 200 top investors in his personal $TRUMP meme coin on Thursday night at an exclusive, high-profile dinner at his private golf club in Sterling, Virginia.

President Donald Trump's recent dinner with backers of a meme coin project is now under legal scrutiny, with an attorney suggesting the president may have violated federal law.

More than 200 top investors in Trump's personal $TRUMP meme coin gathered on Thursday night for an exclusive, high-profile dinner at the president's private golf club in Sterling, Virginia.

The coin, which launched in January 2025, has a current value of over $3 billion. The event served as a reward for the largest investors in his cryptocurrency venture, a move that has raised eyebrows even among ardent MAGA fans.

Email correspondence with the White House for comment is still pending.

The president's ownership of this cryptocurrency has been a subject of interest among analysts, who see it as presenting a potential conflict of interest in the context of Trump's broader support for the cryptocurrency industry.

"The country is doing really well. We have no inflation. Costs are way down. Oil was just at $1.99, $1.98 a gallon, which we haven't seen in years," Trump told guests in a video recorded at the event.

However, California public defender and former judge pro tem Tracey Beryl Gallagher pointed out on X that Trump's remarks may have crossed a legal line.

"He is talking behind a podium bearing the Presidential Seal. The Presidential Seal is governed by strict regulations under federal law, primarily 18 U.S.C. § 713 and Executive Order 11649," Gallagher wrote.

Those rules limit the seal's use to "official government purposes" to preserve its symbolic integrity, she explained.

"Using the seal at a personal, for-profit event like a money-making speaking engagement or private fundraiser would likely violate these regulations, as it could imply official government endorsement of a private activity," Gallagher noted. "The law prohibits using the seal in a manner that suggests government approval or affiliation for non-official events."

She further elaborated that misuse of government insignia can lead to penalties, as highlighted in the 1995 case United States v. Sindel. While some exceptions exist for ceremonial or educational uses, such as replicas at presidential libraries, "personal financial gain doesn't qualify," Gallagher added.

Since the beginning of his second term, Trump has been openly promoting cryptocurrency schemes run by his sons Eric and Donald Trump Jr., which are now a major source of income for the president's family.

In April, a website promoting $TRUMP invited the top 220 holders of the meme coin to a private dinner with the president, where they also received an exclusive reception and a VIP tour the following day.

This invitation led to a surge in the value of $TRUMP by over 50 percent, according to CoinMarketCap, while the Trump administration has taken a pro-crypto stance, rolling back Biden-era regulation of the industry and establishing a bitcoin reserve.

However, such actions have raised concerns about Trump simultaneously promoting and profiting from his personal cryptocurrency, and whether his policy positions are being influenced by his desire for personal financial gain.

In response to these concerns, Senators Jeff Merkley and Chuck Schumer have introduced legislation that would prohibit senior executive branch officials and their families from proflicting from cryptocurrencies.

Lawmakers and ethics experts have also criticized Trump's decision to host yesterday's dinner.

"What's happening tonight at Trump's golf course…is in effect, putting a 'For Sale' sign on the White House. It's auctioning off access," Senator Richard Blumenthal said during a press call organized by Accountable.US, a nonpartisan watchdog group in the crypto space.

Daniel Weiner, the director for elections and government at the Brennan Center for Justice, further elaborated on the unusual nature of the event.

"It's completely unprecedented to have a United States president attending a dinner like this, where you have wealthy investors in a business that he owns who can pay hundreds of thousands or even millions of dollars for access to the president," Weiner told Scripps News. "Let's be clear, of course, presidents do — other presidents and this president — have had fundraisers for their campaigns and lavish dinners and the like. But to have it literally be for a business that's essentially putting money into the president's family's pocket — that's something new and unprecedented and, I think a lot of Americans would say, pretty troubling."

Representatives Sean Casten and Adam Smith have also called for a Department of Justice investigation into the event, citing concerns over foreign influence and potential violations of the Emoluments Clause. They also highlighted that the top 25 investors were promised a private tour of the White House, suggesting an inappropriate intertwining of personal business interests with official government functions.

Ethics watchdogs have also joined in the criticism, with Donald Sherman of Citizens for Responsibility and Ethics in Washington describing the event as "one