Top Buyers of Trump-Sponsored Cryptocurrency Win Exclusive Dinner with Former President
May 13, 2025
By Nick Robins-Early
In a controversial move that has garnered significant attention, the top 220 purchasers of a cryptocurrency associated with Donald Trump, denominated as $TRUMP, have earned an exclusive invitation to dine with the former president. This initiative, which followed weeks of promotional activity by Trump, has sparked a series of allegations regarding potential conflicts of interest and foreign influence.
The $TRUMP Cryptocurrency
Launched in mid-January, the $TRUMP cryptocurrency has reportedly achieved a market capitalization exceeding $2 billion, fueled by heavy investor interest. Reports suggest that a company linked to the Trump family and another firm hold a majority of the coin’s supply, raising eyebrows and prompting scrutiny over the former president’s involvement in the burgeoning crypto space.
On Monday, the official $TRUMP website heralded the winners, saying, "Congratulations, if you’re in the top 220 on the leaderboard we will be contacting you in the next 24 hours. Check your inbox (and spam folder) and expect a phone call for the Trump Official Dinner invitation and details.” The celebratory dinner is scheduled for May 22 in Washington D.C., at Trump National Golf Club.
Accusations of Ethical Violations
Critics, including Democrats and government watchdog organizations, have expressed deep concerns about the impact of this event, highlighting its implications for ethical governance. The contest has ignited fears that it may facilitate a form of pay-to-play governance, potentially allowing wealthy individuals or foreign entities direct access to the former president.
Senator Richard Blumenthal of Connecticut has initiated an ethics inquiry into the cryptocurrency activities tied to Trump. In a recent letter, he outlined concerns that the $TRUMP coin could permit foreign interests to bypass traditional lobbying pathways to influence the president. Blumenthal criticized the contest, noting that it could invite individuals from around the world, including foreign governments, to directly enrich Trump while obscured by the blockchain’s pseudonymity.
Contest Details and Foreign Transactions
The dinner will also feature an ultra-exclusive VIP reception for the top 25 holders of the coin. Interestingly, the contest rules indicate that winners may send a family member or friend in their place if they cannot attend, raising further questions about the identities and motives of those vying for a seat at the president’s table.
Analysis from Bloomberg has revealed that a substantial number of the top holders of $TRUMP utilized foreign cryptocurrency exchanges, which are prohibited from selling to U.S. users. This has heightened scrutiny from critics who argue that it could allow international players to exert influence over U.S. policy through their financial connections to Trump.
White House Response
In light of the criticism, the White House has defended Trump’s crypto initiative, asserting that he is adhering to all conflict of interest laws. Press Secretary Karoline Leavitt addressed concerns during a recent press briefing, maintaining that the auction is not expected to sway Trump’s policy decisions.
The value of the $TRUMP coin has seen volatility since its launch, initially peaking around $75 before a subsequent decline, stabilizing near $12 as the auction concluded. This fluctuation has reportedly left approximately 750,000 investors facing financial losses, while the leading participants have collectively invested millions to secure their positions.
Final Thoughts
The $TRUMP dinner event epitomizes the intersection of politics and emerging financial technologies, raising important questions about transparency, ethics, and the implications of cryptocurrency in the political arena. As the date approaches, attention will continue to focus on both the dinner and the broader ramifications of Trump’s engagement in the cryptocurrency market.
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