Trump to Host Dinner for Top Holders of His Crypto Token Despite Financial Losses
By Niamh Rowe
Published May 22, 2025
In an unusual blend of politics and cryptocurrency, former President Donald Trump is set to host a gala dinner tonight at his private golf club near Washington, D.C., exclusively for the top holders of his cryptocurrency, $Trump. Notably, while the event promises an evening of luxury and exclusivity, a significant portion of the attendees has reportedly lost money on their investments in the digital token.
A Gala for Crypto Investors
The event is a direct result of a recent competition announced by Trump, wherein the top 220 wallets with the largest holdings of $Trump between April 23 and May 12 were awarded tickets to the private dinner at Trump National Golf Club. The top 25 holders are also invited to a “Private VIP Reception” with the former president prior to the gala. This announcement led to a surge in the token’s value, which saw a spike of over 50%.
Despite the excitement surrounding the event, a detailed analysis by The Guardian reveals that 95 of the 220 winners—approximately 43%—have suffered financial losses since the token’s debut in January. Collectively, these losses amount to nearly $8.95 million. The trading history indicates that the largest individual loss belongs to a participant known as “GAnt,” who experienced a shortfall of $1.06 million despite ranking in the top echelons of holders.
The State of the $Trump Token
Trump’s enthusiastic promotion of the $Trump token—he dubbed it “The Greatest of them all!!!!!!!!!!!!”—contrasts sharply with the reality faced by many investors. The analysis shows that vast numbers of cryptocurrency wallets, roughly 764,000 belonging mostly to smaller holders, reflect losses in their investments. As of May 12, the token was trading 68% below its all-time high, which had been recorded the day before Trump’s inauguration.
Among the token holders attending the gala, about 40% own less than one full $Trump token, many of whom entered the market during its hype phase and exited at peak prices. Contrastingly, a few holders like “UVIL” managed to profit handsomely, with gains over $7 million. The average cost of attending this gala was approximately $1 million per ticket, with attendees spending between $55,000 and $37.7 million.
Ethical Concerns and Market Manipulation
Concerns have arisen regarding the ethical implications of the gala, particularly regarding the potential for pay-to-play policymaking. This issue is exemplified by notable attendees such as Justin Sun, a crypto billionaire with a prior controversy around alleged market manipulation.
James Angel, a financial regulation professor at Georgetown University, remarked, “It just shows that, when you elect a clown, you get a circus.” He emphasized the potential benefits that the Trump family business may derive from the token scheme and questioned whether such actions align with the best interests of the United States.
Furthermore, while Trump’s administration is not officially managing the $Trump token, entities affiliated with him retain substantial control. According to data, Trump-linked companies such as CIC Digital LLC and Fight Fight Fight LLC own 80% of the coin’s supply and have reportedly earned around $320 million in trading fees.
Regulatory Landscape and Future Implications
The Securities and Exchange Commission (SEC) has recently redefined its stance on cryptocurrencies, categorizing meme coins like $Trump as collectibles, thereby excluding them from typical securities regulations. This has spurred debate among experts about the potential risks that come with the lack of regulatory oversight. Some argue that the circumstances surrounding $Trump could justify its classification as a security, given the promotional efforts tied to investor profits.
Corey Fraye, director of investor protection for the Consumer Federation of America, expressed concerns over the potential for market manipulation, highlighting the need for greater consumer protection.
In conclusion, while the gala dinner may be a celebration of $Trump token holders, the financial realities faced by many investors signal a cautionary tale within the volatile realm of cryptocurrency investments. As the evening unfolds, the intersection of celebrity and cryptocurrency continues to garner attention, raising questions about ethics, profit, and regulatory practices in this new digital financial landscape.
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