Donald Trump is set to host a private gala Thursday at his Virginia golf club for hundreds of investors in his $TRUMP cryptocurrency memecoin, blurring the lines between his presidential role and personal business interests.
The dinner will welcome the 220 largest backers of the $TRUMP coin, launched in January. According to the event site, the top 25 investors will enjoy a private audience with Trump before dinner, along with a White House tour.
Critics have raised red flags over the event’s implications, warning it could allow foreign entities—barred from contributing to U.S. political campaigns—to potentially gain influence by investing in Trump-linked digital assets.
Inca Digital, a data firm, revealed that numerous transactions were made via foreign exchanges, suggesting international participation. Chinese-born crypto mogul Justin Sun, who has invested $93 million in Trump-affiliated ventures—including $20 million in $TRUMP—claims the top spot. Sun, under past investigation for market manipulation, recently saw U.S. regulators pause their probe in February to pursue a settlement.
“Honored to support @POTUS and grateful for the invitation to attend President Trump’s Gala Dinner as his TOP fan!” Sun posted on X.
The event has sparked bipartisan unease, though most criticism has come from Democrats. Senator Chris Murphy accused the dinner of opening backdoor access to presidential influence, calling it “fundamentally corrupt.”
The White House has dismissed such concerns. Press Secretary Karoline Leavitt defended the president, saying, “He left a life of luxury and a life of running a very successful real estate empire for public service.”
Meanwhile, the Senate is advancing the GENIUS Act, aimed at regulating stablecoins. Trump’s pivot toward digital currency—after previously calling it a scam—has coincided with growing political support from crypto industry players disillusioned with Biden-era regulations.
Trump’s crypto ventures have expanded under the direction of his sons, Donald Jr. and Eric, with investments in platforms like Binance via a new entity, World Liberty Financial, which reportedly holds significant ties in the Middle East.
In a bold move, President Trump also issued an executive order to establish a Strategic Bitcoin Reserve for federal crypto holdings.
