Trump's meme coin buyers converge on Washington for exclusive dinner

Buyers of President Donald Trump's meme coin converged from around the globe on May 22 for an exclusive dinner at his private country club, overlooking the Potomac River

An exclusive dinner hosted by President Donald Trump for the top 220 holders of his $TRUMP meme coin at his private country club drew more than 100 protesters on Tuesday, as guests converged from around the globe for the lavish meal and lavish prizes.

The president's guests, who together spent an estimated $148 million on the meme coin to secure their seats at the dinner, began arriving at Trump National Golf Club, just outside Washington, D.C., at around 5:30 p.m. ET.

As guests filed into the event, and President Trump arrived by Marine One helicopter, more than a hundred protesters crowded along the edge of the parking lot along the street. Signs included, "America is not for sale," "stop crypto corruption," and "release the guest list."

Among those in attendance was China-born crypto entrepreneur and billionaire Justin Sun, who posted a video of himself, underscored by triumphant music, entering the ballroom and dressed in a tuxedo. Mr Sun won first place in the dinner contest with his $18.5 million wallet, and is also the largest publicly known investor and an adviser to World Liberty Financial, the Trump family's crypto platform, which has made them hundreds of millions of dollars.

On Monday, Mr Sun also posted a video of himself visiting the Executive Office Building, part of the White House complex. In February, the U.S. Securities and Exchange Commission paused its 2023 fraud case against Mr Sun, citing public interest.

Mr Sun declined to comment but posted on X that he is "grateful for the invitation." The SEC declined to comment.

In a video posted on social media by a meme coin contest dinner guest, Mr Trump told the crowd, "I always put the country way ahead of the business...You become president of the United States, and you want to see people thrive and succeed. The Biden Administration persecuted crypto innovators and we’re bringing them back into the USA where they belong."

In total, investors spent an estimated $148 million on the $TRUMP meme coin to secure their seats at the dinner, with the top-25 holders spending more than $111 million, according to crypto intelligence firm Inca Digital.

These top holders enjoyed a private VIP reception with Mr Trump, and the four largest investors also received a limited edition Trump Tourbillon watch that sells for $100,000.

A company controlled by the Trump family and a second firm together hold 80 percent of the remaining supply of $TRUMP coins, and have so far earned $320.19 million in fees, including at least $1.35 million after the dinner announcement, according to blockchain analytics firm Chainalysis.

More than half of the 220 holders who attended the black-tie event are likely based outside of the United States, according to blockchain analysis.

In response to criticisms about Mr Trump using his office to enrich himself from the meme coin, White House spokeswoman Karoline Leavitt said on Tuesday: "All of the president's assets are in a blind trust, which is managed by his children. And I would argue, one of the many reasons that the American people re-elected this president back to this office is because he was a very successful businessman before giving it up to publicly serve our country."

The Trump Organization did not respond to requests for comment.

Mr Vincent Liu, chief investment officer of Taiwan-based crypto market maker Kronos Research, said he had hopes of networking with other top holders and even possibly meeting the president.

"That kind of access is rare, and it represents how digital assets are entering the mainstream."

Mr Sheldon Zia, founder of the Cayman Islands-based crypto exchange BitMart, posted on X prior to the event that, as a top-25 holder, he was heading to not just the dinner but also to a private VIP cocktail reception before the dinner and a private VIP tour the following day.

An initial announcement said the 25 VIPs–the majority of their identities so far unknown–would tour the White House.

That detail has since been deleted from the $TRUMP meme website (www.gettrumpmemes.com).

There are also domestic Trump supporters such as Mr Vincent Deriu, a 27-year-old New York consultant who said he already owns "many" Trump-branded watches, "a few pairs of" Trump sneakers, and "more than 50" Trump NFTs. Mr Deriu joined the dinner on Tuesday for $116,000.

Mr Trump spent an hour at the event, where meme coin holders were served an organic field green salad, filet mignon, pan-seared halibut, garlic mashed potatoes and a vegetable medley, followed by a warm lava cake, according to a photo of the gold-lettered menu posted to social media.

Senior Democratic members of the House and Senate held a press conference