The meme coin associated with U.S. President Donald J. Trump, the Official Trump token (TRUMP), is now being promoted not just as a digital asset but, for some, as a purported 'golden ticket' to the inner sanctum of political influence.
The lavish dinner hosted by Trump for influential entrepreneurs and top buyers of the TRUMP token reinforced this perception, making the token a lightning rod for controversy, widespread speculation, and serious ethical alarm signals.
Inside Trump's gala evening dedicated to the $TRUMP token: access and luxury
On May 22, Trump hosted a lavish dinner, optional black tie, at his golf club in Virginia for 220 top buyers of the TRUMP token. The event, complemented by filet mignon, halibut, and numerous memorabilia featuring the Trump logo, was not a standard campaign fundraising event. Observers suggest that it was something much more straightforward: a blatant monetization of presidential influence through a speculative crypto asset.
Crypto whales and influential entrepreneurs flew in from around the world, among whom were reported figures like Chinese billionaire Justin Sun and Korean executive Sangrok Oh. They are believed to have gathered with the aim of earning favor or perhaps shaping the future of cryptocurrency policy in the U.S.
Critically, participants did not earn their spots through traditional, regulated political donations. Instead, access was granted through ownership of large amounts of a speculative asset (TRUMP), partially controlled by Trump's family business. For some, the appeal lay in the access. For others, it was pure spectacle. And for many, it was both.
The corruption question: monetizing presidential influence?
The optics of the 'pay-to-play' token $TRUMP and the associated gala dinner did not go unnoticed, raising 'ethical alarm.' The primary concern revolves around whether this constitutes 'direct monetization of presidential influence,' essentially selling access to one of the most powerful offices in the world through an extremely speculative and largely unregulated digital token.
According to the report, while several TRUMP wallets made millions — 58 wallets earned over $10 million each — more than 764,000 wallets lost money on TRUMP, as disclosed by Chainalysis. Many were lured by promises of access or quick profits. Instead, they became collateral in the volatile game of political-financial alchemy.