On May 22, 2025, President Donald Trump hosted an exclusive dinner at his luxury golf club in Northern Virginia for 220 top investors in his personal cryptocurrency, the $TRUMP memecoin. The event featured a meal of filet mignon and halibut, a half-hour speech by Trump, and concluded with him dancing to “YMCA.”
Though the White House described the gathering as a personal engagement, Trump spoke from behind a lectern bearing the presidential seal and promoted an industry that directly benefits his family business. This raised concerns among some industry leaders and pro-Trump crypto supporters, who worry that his personal involvement could undermine credibility and stability in the cryptocurrency sector.
The $TRUMP memecoin, launched shortly before Trump's inauguration, was initially framed as a lighthearted project for supporters. However, it has drawn criticism due to its links to presidential access, including invitations to exclusive events and Trump-branded gifts. After an early price surge, the coin’s value dropped significantly, raising questions about its legitimacy and whether it favors insiders at the expense of average investors.
Transparency was another point of concern, as some top investors used pseudonyms and media were barred from attending. Outside the event, protesters held signs opposing what they called crypto corruption.
The dinner highlighted the growing overlap between Trump’s private financial ventures and his public role, fueling ethical debates and concerns a
bout the broader impact on the crypto industry’s image.