U.S. President Donald Trump hosted a private black-tie dinner gala on May 22 for the top 220 holders of his TRUMP meme coin an event that sparked viral buzz, outside protests, and polarizing reactions from attendees.
Since everyone imagined it to be the ultimate exclusive event, many made the gala a subject of ridicule with conspicuous swank and talk of bad food, insufficient access and little actual interaction with Donald Trump.
Crypto Royalty Attends Trump’s Gala Dinner
Some of the most famous people in the crypto industry could be seen at the event, including Tron founder Justin Sun, Wintermute CEO Evgeny Gaevoy, Origin Protocol co-founder Matthew Liu, Magic Eden’s Jack Lu and Delphi Digital’s Anil Lulla and Yan Liberman.
Although Trump spoke for a short 23 minutes, he only mixed with the 25 VIP in a meeting. I wish his son could have eaten dinner with us and stayed a bit longer, said Nicholas Pinto, who showed up in his father’s Lamborghini and left without a drink. He said:
“The food sucked… Wasn’t given any drinks other than water or Trump’s wine. I don’t drink, so I had water. My glass was only filled once.”
Attendees Disappointed by Trump’s Short Stay
While some attendees appeared with expensive Richard Mille watches, said to cost $1.3 million, many guests expected more from the event. When asked about the event, Pinto said, I thought they would be serving Big Macs or pizzas, since it seemed Donald’s type. He added:
“I am very disappointed that President Trump didn’t spend more time at the event. He was not interacting with us. I wasn’t very impressed by the speech, to be honest. I would have liked for him to dine with us, maybe spend more time.”
Similarly, Shanghai investor Cheng Lu (one of the top 25 VIPs) said he was prohibited from having a meeting or interaction with the President, not even on the White House tour.
Memecoin Hype Fades as Prices Drop
Financial security was also a major dispute. Pinto said that not having RFID-sealed bags for phones meant the organizers didn’t pay attention to anything else once Donald left.
It seemed that the crowd had gathered for a memecoin that was appealing less as the gala started. Wired reports that a majority of registered guests cashed out their TRUMP tokens after they received an invitation to the event. The night of the event, the coin’s price had dropped roughly 8% and the on-chain data showed attendee holdings fell from 11.3 million to 7 million tokens. Pinto said:
“Lots of people didn’t even hold the coin anymore. They were checking their phones during dinner to see if the price moved.”
Trump’s Gala Used for Personal Promotion
Much of the audience found the event disappointing, but some used it to form new business connections. Retired NBA player Lamar Odom has promoted his own memecoin, ODOM, in the public eye. Russian entrepreneur Nikita Anufrieve told WSJ that:
“This is a historical moment, when the 47th President, Donald Trump, performed a speech for us. You cannot compare it to any reward available in the market right now.”
Morten Christensen, a former poker player who now runs a crypto website, organized the event to keep up appearances. He added that it demonstrates Donald’s interest in acting on the coin, which helps future investors feel safer.
Gala Seen as Crypto-Political Experiment
Not all politicians looked only for quick wins. Chief Executive Oh of Hyperithm believes it is a social test and notes, “It will take time to observe the outcomes.”
While Trump’s crypto gala wasn’t warmly embraced, it shows how politics, celebrity and decentralized finance are converging. Either way, the dinner proved that, in Trump’s world, memes can be turned into money.
Since the TRUMP token keeps fluctuating and people guess about Donald’s digital moves, this event can teach us much about future political capital.
Conclusion
Donald Trump’s private dinner with memecoin creators resulted in mixed outcomes. Even though many individuals were underwhelmed by the food and thought Trump’s participation was short, others now have opportunities for networking. The event pointed out how politics, crypto and celebrity are merging, causing pictures, money and power to collide in unexpected and revealing fashions.
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FAQs
1: What was the purpose of Trump’s meme coin dinner?
To gather top token holders,the network, and show Trump’s support for the coin.
2: Why were many attendees disappointed?
Due to poor food, brief Trump appearance, and weak security.
3: Did the event affect the memecoin price?
Yes, the token price dropped about 8% after many holders sold.
Glossary of Key Terms
TRUMP Token
A memecoin linked to Donald Trump.
Crypto Entrepreneurs
People who start businesses in crypto.
Token Holders
People who own a cryptocurrency token.
Dumping
Selling lots of tokens quickly, causing prices to drop.
NFT Marketplace
A site to buy and sell digital collectibles.
VIP Reception
An exclusive meeting for important guests.
Security Measures
Steps taken to protect items or data.
References
www.nytimes.com
www.cnbc.com
www.youtube.com
www.wired.com
Read More: How Trump’s $TRUMP Token Gala Left Guests Thirsty, Broke, and Bored">How Trump’s $TRUMP Token Gala Left Guests Thirsty, Broke, and Bored
