President Donald Trump Hosted an Exclusive Dinner at His Virginia Golf Club for the Top Holders of His $TRUMP Memecoin

The 220 attendees collectively spent $148 million on the token to earn their invitations to what was billed as “the most exclusive invitation in the world.”

President Donald Trump hosted an exclusive dinner at his Virginia golf club on May 22 for the top 220 holders of the $TRUMP memecoin, which began trading at $1.20 on Friday morning, according to data from CoinGecko.

Also known as "the most exclusive invitation in the world," the event took place at Trump National Golf Club in Potomac Falls, Virginia.

The attendees collectively spent around $148 million to earn their invitations to the dinner, which was also attended by crypto influencers and industry executives like Sandy Carter of Unstoppable Domains, and former NBA star Lamar Odom.

One attendee, 25-year-old Nicholas Pinto, who invested about $300,000 in TRUMP tokens, provided detailed insights into the event and the food, which he described negatively.

"The food was the worst I've ever had at a Trump golf course; it was trash. The only good thing was the bread and butter, and I left still hungry," Pinto said.

The menu included a "Trump organic field green salad," filet mignon and pan-seared halibut with mashed potatoes and vegetable medley, followed by lava cake for dessert.

Trump's Appearance and Departure

Pinto said Trump's appearance at the dinner was brief, arriving at 8:27 pm ET and departing at 8:50 pm ET.

The president delivered a short speech reading from a script, claiming that some of the smartest minds were in the room and suggesting that crypto "may be special."

Trump left immediately after his speech via helicopter without taking any questions or photos with the attendees, which disappointed many guests who were expecting more interaction with the president.

"They had good security; they didn't put our phones in RFID pouches, which was surprising. But once Trump left, they didn't really care about anything else," Pinto added.

The crowd displayed wealth through expensive accessories, with Pinto observing at least 16 people wearing Richard Mille watches. However, the atmosphere was muted as many attendees no longer held the coin and were checking its price on their phones during dinner.

Foreign Investment Concerns

The top TRUMP token holder is Justin Sun, a Chinese-born crypto mogul who currently faces SEC fraud charges. Sun holds around $22 million in TRUMP tokens and another $75 million in World Liberty Financial's (WRLD) native token.

Earlier this year, Democrats raised concerns about potential foreign investment violations.

Thirty-five Democratic lawmakers called for the Justice Department to investigate Trump for possible violations of federal bribery statutes and the Constitution's foreign emoluments clause.

The emoluments clause prohibits the US president from accepting gifts or payments from foreign states without Congress's approval.

According to an analysis by Bloomberg, all but six of the top 25 wallets used foreign exchanges that are typically off-limits to US users.

Out of the top 220 wallets, more than half were linked to similar offshore platforms, raising questions about foreign participation in an event hosted by the sitting president.

The White House attempted to distance itself from the event, with press secretary Karoline Leavitt stating that it was held during Trump's "personal time" and was "not a White House dinner." The administration also declined to release a guest list for the event.

The $TRUMP coin's price dropped 16% in the hours following the dinner. Since its January debut, the token has generated over $324 million in trading fees, with roughly 80% of the supply being controlled by the Trump Organization and its affiliates.