The top 220 holders of US President Donald Trump’s memecoin met yesterday

The top 220 holders of US President Donald Trump’s memecoin met yesterday

The top 220 holders of US President Donald Trump’s memecoin met yesterday at the president’s golf course in Virginia for an exclusive dinner and purported meet-and-greet.

Attendees spent a grand total of $148 million for an “ultra-exclusive VIP reception with the president,” which crypto industry advocates and critics alike saw as a potential opportunity to discuss crypto policy with the president.

The crowd contained a number of foreign crypto executives and influencers who otherwise would not have access to the US president, raising questions around corruption and foreign influence.

Concerns were further augmented when White House Press Secretary Karoline Leavitt declined to release a list of attendees, stating that the event was a private affair outside of Trump’s presidential duties.

However, some attendees spoke to the press or took to social media to talk about the dinner. Here are just a few:

Justin Sun

Tron founder Justin Sun was the largest TRUMP tokenholder at the gala, which was reportedly enough to earn him a special watch, presented in a special ceremony.

Sun’s presence at the event was particularly controversial. Last year, he faced a lawsuit brought by the US Securities and Exchange Commission over the alleged “orchestration of the unregistered offer and sale, manipulative trading, and unlawful touting of crypto asset securities.”

The SEC asked for a reprieve in late February, just over a month since Trump’s inauguration and the subsequent 180 in federal agencies’ approach toward regulating crypto.

Outside the crypto dinner, Sun posted on May 21 that he would be spending a week in Washington, DC to have “meaningful conversations that will help shape the next chapter of blockchain’s future” in the United States.

Kain Warwick

Kain Warwick, founder of crypto exchange operator iFinex, told The New York Times on May 12 that he was attending the event after stocking up on enough TRUMP to break the top 25 investors on the leaderboard.

Warwick said he wanted to have a shot at meeting the president, or someone on his team, to talk crypto — specifically decentralized finance (DeFi), which is getting less attention in the current crop of crypto bills circulating the US Congress.

“If you assume Trump and 10 people within the Trump team are there, now you’ve got a one in 15 shot of having a conversation with one of them,” Warwick said.

Vincent Liu

Vincent Liu, chief investment officer of crypto trading, VC and market-making firm Kronos Research, attended the event, posting pictures of the menu and Trump’s brief speech.

"Simply by holding the Trump token, individuals have an unprecedented opportunity to meet the President of the United States."

— Vincent Liu (@Vincent__Liu) May 13, 2024″A few opportunistic souls recognized this unique convergence of memecoins, a former president's ventures, and the unfolding narrative of Web3 to create something truly remarkable. We aim to amplify this story and shed light on the deeper implications for the industry at large. Lots of alpha on the menu tonight. Stay tuned."

Liu had previously told Cointelegraph that the decision to acquire the TRUMP token was "not political." Rather, it was based on "identifying early momentum, cultural relevance and potential market catalysts."

Lamar Odom

Also in attendance was two-time NBA champion Lamar Odom. While many other crypto entrepreneurs in the audience were focused on policy, Odom used news of his attendance to plug his own memecoin, ODOM.

Odom launched his memecoin less than a week before the dinner on May 14. The anti-addiction-themed memecoin (Odom had a public battle with substance addiction) is issued on the Solana blockchain.

The coin itself had a 20% "Trump Dinner Program" staking scheme, where TRUMP holders could stake their coins with Odom's project, ostensibly to enable him to attend the dinner event, and receive ODOM airdrops in return. Odom himself will hold 5% of all ODOM.

Sangrok Oh

CEO of Seoul- and Tokyo-based cryptocurrency management firm Hyperithm, Sangrok Oh was the 13th-largest TRUMP holder with a wallet containing over $3 million worth of the token, according to the Straits Times.

Oh told The New York Times that he had arrived with a batch of red "Make Crypto Great Again" hats to give away at the dinner and expected to speak directly with the president. "It's kind of a fund-raiser [...] And he'll always be good to his sponsors."

Oh has been critical of the slow regulatory progress for crypto in the countries where his company operates.

Anonymous attendees

In addition to crypto execs and sports stars, the event also noted a few anonymous or pseudonymous crypto traders and entrepreneurs in attendance.

Among them was "Ice," co