It was pitched as the last word crypto flex: purchase sufficient $TRUMP coin and also you simply may get dinner with the person himself. Now, that’s precisely what 220 crypto whales are getting: a non-public gala with former President Donald Trump at his golf membership close to Washington, D.C., on Might 22. All they needed to do was maintain onto sufficient of his meme coin, lengthy sufficient, to make the leaderboard. Nonetheless, critics say the Trump crypto dinner could blur the traces between political fundraising and digital asset promotion.
High $TRUMP whales are sitting on $174M in tokens
All set for background checks earlier than the Might 22 dinner + VIP tour with the massive man himself. pic.twitter.com/Lxx9icOSMu
— Jesse.LSD (@JesseWoodLSD) Might 13, 2025
However whereas some are celebrating, others are asking some very uncomfortable questions.
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How the Contest Labored
The setup was easy however pricey. The highest 220 wallets holding $TRUMP, weighted by time and quantity, secured themselves an invite to dine with Trump. The highest 25 get further perks, together with a VIP reception and behind-the-scenes entry.
Simply made it into the High 25 of the Trump Meme Contest—heading to the VIP Reception & Gala Dinner on Might 22 at Trump Nationwide Golf Membership DC, plus a non-public VIP tour the following day!Proud to assist President Trump’s pro-crypto imaginative and prescient. Web3 wants daring, decisive management to thrive… pic.twitter.com/u1h6Ur2I1I
— Sheldon (@sheldonbitmart) Might 13, 2025
In keeping with on-chain knowledge, these wallets poured in a complete of $148 million price of $TRUMP cash through the contest. For some, it was a golden ticket. For others, a high-stakes gamble that didn’t fairly repay.
Winners and Losers
The $TRUMP coin soared in worth after the dinner contest was introduced. At one level, it peaked close to $75 earlier than falling again to round $14. That form of volatility is par for the course with meme cash, nevertheless it hit laborious this time.
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Roughly 593,000 wallets have misplaced cash because the coin’s January launch. In whole, round $3.9 billion in losses have been tallied throughout the board, exhibiting simply how skewed the distribution has been.
One dealer wins a dinner. Hundreds stroll away within the purple. That’s crypto for you.
Trump Crypto Dinner: The Ethics Debate
Critics aren’t simply pointing to the value swings. They’re pointing to the entire idea: a political determine providing non-public entry in change for crypto holdings.
Senator Richard Blumenthal has already launched an ethics inquiry, asking whether or not Trump’s contest crosses a line between marketing campaign gimmick and pay-for-access scheme. In any case, entering into the identical room as a U.S. president, or a presidential candidate, is usually one thing that goes via much more filters than a pockets tracker.
Overseas Wallets within the Highlight
Then there’s the matter of who’s really attending. The highest $TRUMP holder isn’t based mostly within the U.S. It’s a pockets tied to HTX, a Seychelles-based change linked to Chinese language crypto entrepreneur Justin Solar.
That’s raised much more eyebrows, particularly with issues round overseas affect and nationwide safety. A few of the main wallets reportedly used platforms which might be blocked within the U.S., that means these individuals could not even be home residents.
For a political dinner tied to somebody who is likely to be within the White Home once more subsequent 12 months, that’s a severe purple flag for some lawmakers.
A Meal to Keep in mind
What began as a flashy meme coin promo has become a lightning rod for controversy. Trump’s crypto dinner is likely to be serving steak and shrimp, nevertheless it’s additionally serving up severe questions on cash, entry, and affect.
As crypto will get deeper into politics, the road between hype and ethics is getting tougher to attract, and this occasion stands out as the clearest instance of that but.
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Key Takeaways
Trump’s crypto dinner required individuals to carry massive quantities of $TRUMP tokens, with 220 wallets gaining entry after collectively spending $148 million.
The coin’s worth surged after the competition was introduced, peaking close to $75 earlier than falling to round $14, leaving an estimated 593,000 wallets within the purple.
Critics have raised moral issues, accusing Trump of promoting political entry via a meme coin-based leaderboard system.
Senator Richard Blumenthal has launched an ethics probe to look at whether or not the dinner violates marketing campaign finance or pay-for-access norms.
The highest $TRUMP holder is reportedly linked to Justin Solar’s HTX change, elevating flags about overseas involvement and nationwide safety dangers.
The submit $148 Million Later, Trump’s Crypto Dinner Raises Eyebrows appeared first on 99Bitcoins.
