According to BlockBeats, on May 6, TheBlock reported that Trump arranged two cryptocurrency-themed dinners this month - one for well-funded political donors and the other for "Meme Coin" millionaires. The first "Cryptocurrency and Artificial Intelligence Innovators Dinner" hosted by MAGA Inc. is scheduled to be held on Monday local time, with a fundraising amount of $1.5 million per person. The second dinner will be held on May 22, and participants will have the opportunity to contact Trump's core circle by holding TRUMP tokens. This has caused Senators Elizabeth Warren and Adam Schiff and others to question the intersection of the Trump family's crypto interests and US national policies.
The focus of the controversy is that the TRUMP coin holders' dinner on May 22 was accused of "exchanging special presidential reception rights for business investment", and the newly added MAGA crypto fundraising dinner starts at $1.5 million per seat, setting a record for political fundraising. The Trump family's crypto interest chain is also controversial. The family and the entities they control own 80% of the TRUMP token supply. According to Chainalysis data, the TRUMP token has earned insiders $325 million in transaction fees. Trump denied this in a recent NBC interview: "The token price is meaningless, and I didn't profit from it."
Democrats have recently continued to put pressure on investigating the UAE's investment in the Trump family through the USD1 stablecoin, and the timing of the two dinners coincides with the key debate period for the stablecoin bill and market structure legislation, which will intensify the politicization of the crypto regulatory process.
