US President Donald Trump's memecoin list of top holders finalized ahead of background checks

The list of the top holders of US President Donald Trump's memecoin has been finalized ahead of background checks to apply for a dinner and “VIP tour”

The list of the top holders of US President Donald Trump’s memecoin has been finalized ahead of background checks to apply for a dinner and “VIP tour” with the president on May 22.

According to a May 12 X post by the TRUMP memecoin project, the project would stop considering additional purchases for a dinner with the president, and the top tokenholders have been notified to apply for background checks if they want to attend.

The post read:

"We will be stopping the consideration of additional purchases for dinner with the president at 11:59pm ET tonight. The top token holders have been notified to apply for background checks if they want to attend the dinner and VIP tour with President Trump on May 22nd.

The window to apply for the exclusive reception with the president at the White House for the top 25 token holders will also close at 11:59pm ET. Afterwards, the new token holders will be able to enter the project and have a chance to win various prizes."

According to data provided on the project’s leaderboard, the top 220 wallets held more than 13.7 million tokens as of May 12, which were worth roughly $174 million at the time of publication.

It’s unclear who, if any, of the wallet holders will choose to apply for and attend the dinner with Trump, or the “exclusive reception” expected to be in the White House for the top 25 holders. A May 7 Bloomberg report suggested that the majority of tokenholders were based outside of the United States, leading to potential security concerns and conflicts of interest.

Many US lawmakers and figures in the crypto industry criticized the president for launching the memecoin just days before taking office on Jan. 20.

In the wake of his dinner announcement on April 23, the calls for congressional oversight and allegations of corruption have increased, with one senator calling for Trump’s impeachment and other representatives refusing to consider crypto-related legislation until their concerns were addressed.

Companies also apparently seeking to influence Trump’s policies have invested in the memecoin. In April, Freight Technologies said it would invest $20 million in the token, which could affect the president’s trade war between the US and Mexico, where the firm conducts some of its business. As of May 12, the company had not announced whether it qualified to send a representative to the dinner.

Not Trump’s first appeal to crypto users

During his 2024 campaign, Trump hosted a dinner with supporters who purchased his “mugshot” non-fungible tokens, which featured a picture of the then-presidential candidate at his surrender to authorities on charges he attempted to overturn the 2020 election.

Many of the “mugshot” attendees publicly shared their identities on social media ahead of and during the event, but at the time of publication, no one appeared to be claiming they would apply for the memecoin dinner. Wallets with the usernames “Sun” and “elon” have led to speculation that Tron founder Justin Sun and Tesla CEO Elon Musk — both Trump supporters who have financial interests tied to Trump’s presidency — could be among the attendees.