Trump’s $TRUMP Coin: The $148M Dinner Scandal

On May 22, 2025, Donald Trump hosted an exclusive VIP dinner for the top 220 holders of his meme coin, $TRUMP — a cryptocurrency that was launched just three days before his inauguration. The dinner wasn’t about policy. It wasn’t about crypto innovation. It was about access. And the price of that access? Over $148 million in leaderboard-driven trading volume, with the top 25 wallets receiving a VIP tour and special reception with the President of the United States. This episode of Reversing the Trend is a full breakdown of the scandal around the $TRUMP coin — the timeline, the insider gains, the regulatory smoke, and the ethical violations that come with a sitting president actively profiting off retail crypto speculation. We explore how: The $TRUMP coin launched with no press release, no roadmap, and no formal promotion — causing people to initially think Trump had been hacked. It skyrocketed 300% overnight, hitting a peak market cap of over $13 billion, entering the top 20 coins globally. Trump-affiliated entities quietly held 80% of the token supply (800 million of the 1 billion tokens). Melania Trump launched her own memecoin, $MELANIA, two days later — prompting backlash even among MAGA supporters. The token crashed 80% by end of January. Chainalysis later reported over 800,000 wallets lost money — mostly small investors. Insiders reportedly spent just $2.4 million pre-launch and made over $100 million after the pump. The top wallet on the $TRUMP leaderboard was linked to Justin Sun, whose SEC case was paused weeks after investing in Trump-affiliated World Liberty Financial. The leaderboard became a “buy your way in” access funnel. The top 220 wallets earned a dinner seat. Foreign shell entities made up most of the top spots. Top 5 wallets were traced to Singapore and Hong Kong exchanges, raising national security flags. The dinner was not about crypto. It was about power. About the ability to buy face time with a U.S. president through speculative assets and offshore wallets. It’s why ethics lawyers are screaming about Emoluments Clause violations. It’s why commentators are calling this an “IPO of the presidency.” In this episode, we also break down six legal violations Trump may have committed during his second term: Foreign Emoluments Clause – accepting value from foreign states without Congressional approval. Domestic Emoluments Clause – profiting from federal service beyond the presidential salary. Bribery – offering access in exchange for investments or regulatory influence. Honest Services Fraud – secretly using the presidency for private gain via crypto. Campaign Finance Violations – use of unreported PAC funding tied to anonymous wallets. Obstruction of Justice – regulatory action pauses potentially tied to investor relationships. This isn’t just about Trump. It’s about how easily cryptocurrency can be weaponised for political enrichment, foreign access, and elite insider profit — all while the retail crowd gets dumped on. If you’re in crypto, this is your mess too. Because a year ago, most of the industry went all-in on “Trump the crypto president.” And now you’re shocked that he turned Web3 into a grift factory? Welcome to the consequences of that choice. 00:00 Introduction and Bitcoin Pizza Day 00:33 Trump's Meme Coin Launch 01:27 Market Reactions and Ethical Concerns 03:58 Melania's Meme Coin and MAGA Reactions 04:51 The Pump and Dump Scheme 05:35 Insider Trading and Retail Losses 07:50 Justin Sun's Involvement 09:44 Trump's VIP Crypto Dinner 18:13 Impeachable Offenses and Legal Violations 23:06 Conclusion and Final Thoughts