At 7 AM Beijing time on May 23 (the evening of May 22 Eastern Time), a special dinner intersecting crypto and politics was held as scheduled at Trump National Golf Club, just outside Washington, D.C.
This was not an ordinary social dinner but a night of glory for the top 220 TRUMP token holders—they earned the chance to dine with U.S. President Trump based on their holdings ranking from April 23 to May 12.
The First TRUMP Meme Coin Competition Review
On April 19, crypto community member @thetrenchdiver stated that Trump plans to hold a dinner for large investors holding TRUMP coins. As the news spread, the TRUMP token price surged from nearly the bottom at $7.7 to $8.7, an increase of nearly 13%. Nevertheless, many remained skeptical about the authenticity of the news.
Until April 23, the official confirmation of this news came: Trump will host the 'TRUMP DINNER' for the top 220 holders of the TRUMP token on May 22, at Trump National Golf Club in Washington, D.C., and registration is open. By this time, the token price had risen to around $9.2. The formal confirmation of this news instantaneously pushed the price up to around $16.2, an increase of 76%. However, later disclosed details of the dinner indicated that Trump might be absent, causing the token price to fall back to around $13.3.
Nevertheless, the allure of the dinner continued to ferment. On April 26, the price of the TRUMP token steadily rose to around $16.4.
On May 12, the first TRUMP Meme coin competition officially concluded, and the leaderboard was locked. The leaderboard ranked based on the average holding amount per hour from April 23 to May 12, with the top 220 holders qualifying for the dinner. Among them, the top 25 could also participate in a VIP reception with Trump and a special tour of the White House. Additionally, all participants on the leaderboard received a TRUMP NFT as a souvenir. For details of the event, please refer to the previous publication by Odaily Planet Daily (I want to meet Trump: 'TRUMP Dinner' Attendance Guide).
Dinner Process and Requirements
According to information previously provided by BitMart founder Sheldon Xia, this TRUMP dinner prohibits bringing any gifts and large photographic equipment; photography equipment must not exceed smartphone-level cameras. Dress code requires adherence to the 'Black Tie' standard, meaning suits, ties, and dress shoes are mandatory, with overall attire being very formal.
All participants are required to provide basic personal information, such as name, nationality, contact information, etc., and undergo strict background checks. Non-U.S. users may be subject to special reviews, with results usually confirmed closer to the event date. There have been no cases of elimination due to background checks so far.
On the day of the event, strict security checks will be conducted. VIP participants will attend a special reception one hour in advance to interact with Trump. This will be followed by a formal dinner lasting two hours. The next day a White House tour is scheduled, but it is not confirmed whether Trump will accompany. There will also be informal group activities after the dinner.
$148 million ticket: from Sun Yuchen with holdings over $20 million to the $1,200 'vulnerability player'
Entering this elite club costs far more than just a formal suit.
According to the leaderboard published on the official website of TRUMP Meme coin, the 'ticket' price for this dinner is astonishing. The total holdings of the top 25 holders reached 8.98 million tokens. Among them, TRON founder Sun Yuchen firmly holds the top spot with over $20 million in holdings, the second VIP seat is claimed by MemeCore, and market maker Wintermute ranks in the top three due to early positioning.
Statistics show that TRUMP Meme coin buyers invested approximately $148 million to compete for 220 seats during the competition, averaging a whopping $670,000 per person. However, sitting next to Trump at the dinner were two extremes:
Top Player: TRON founder Sun Yuchen, with holdings exceeding $20 million, firmly holds the top spot, while market maker Wintermute, despite holding only 400,000 coins due to early holding strategies, squeezed into the top three.
Vulnerability Hunter: Morten Christensen, ranked 188th, and a friend locked in their seats through an arbitrage operation of "buying + shorting" while only paying $1,200 in transaction fees; their holdings rapidly cleared after the ranking confirmation.
This absurd comparison is not an isolated case. Data shows that 22 of the top 25 purchased tokens after the event was announced. However, after the ranking was confirmed, 17 wallet addresses among the top 220 holders before the dinner had zero holdings, including the wallet ranked 25th, 'noah.'
Chainalysis data reveals a harsher reality: 58 wallets profited over $10 million, with total earnings exceeding $1 billion, but simultaneously, 764,000 wallets incurred losses. In this game, not everyone is a winner.
Dinner Attendance Record: The Subtle Dance of Crypto and Politics
When Trump appeared at the dinner venue as promised, the symbolic meaning of this event had already transcended a simple business gathering, becoming a historic occasion for the first formal 'handshake' between crypto capital and traditional political power.
Sun Yuchen's Speech: Thanking the President for Supporting the Crypto Industry
As the largest holder, Huobi HTX global advisor and TRON founder Sun Yuchen was invited to give a speech. He stated, "I am very grateful to the Trump administration for everything they have done for our industry. Just not long ago, crypto individuals were constantly being oppressed, and we could not hold such a grand event in Washington, gathering all practitioners in the U.S. to co-build the crypto industry. This is the most wonderful thing I can think of. If I can come to the U.S., then everyone can come." His speech video screenshot also went viral on social media, and Sun Yuchen later personally responded to community discussions.
Sheldon Xia: The 'Golden Five Minutes' Bought for Tens of Millions of Dollars
BitMart founder Sheldon Xia revealed that he invested about $10 million to secure a spot in the top 25, obtaining a brief opportunity to communicate with Trump. This investment was made after the dinner confirmation to ensure his seat. However, he is still holding this portion of assets, rather than 'locking in a seat' and immediately selling. Sheldon Xia plans to ask Trump about the macro regulatory direction in the crypto field, including relevant policies in the U.S. and global markets.
Kronos Research CIO's Deep Observation: The Transformation from Financial Tools to Symbols of Identity
Kronos Research CIO Vincent was also invited to Trump's VIP dinner, stating that holding TRUMP was based on early market signals and narrative momentum, rather than political stance. From the perspective of someone who has long observed market structures, this marks the evolution of crypto assets from financial tools to expressions of social and political identity. It is not merely 'participating in history' but witnessing how a new narrative logic enters the centers of power. This is a highly symbolic signal for the entire industry.
From Club to Capitol Hill: The Political Storm of the Crypto Dinner
Under the dazzling crystal chandeliers of Trump National Golf Club, as Trump raised his glass for a photo with the holders, protesters outside the club were holding up signs reading 'Crypto Corruption'—this dinner, costing over $100 million, has already transcended the boundary of 'industry exchange' in the eyes of Democrats.
According to @CryptoDoggyCN, due to off-site protests and opposition from Democratic lawmakers, the organizers prohibited live streaming and recording, and violators were asked to leave. Trump left the dinner an hour after it started, and the planned White House tour may have been canceled due to security or schedule adjustments, with the specific reason undisclosed.
Just hours before the dinner began, a battle against 'crypto corruption' had already ignited on Capitol Hill. U.S. Democratic leader Representative Maxine Waters proposed a new bill aimed at addressing concerns regarding the president's involvement in digital assets. It is reported that Maxine Waters and 14 other Democratic co-sponsors proposed (2025 to stop trading, holding, and unfair market returns in cryptocurrency). The bill explicitly states: that the president and their immediate family are prohibited from holding digital assets that may affect the market.
The seeds of controversy have long been sown. Reports disclose that Trump plans to hold two crypto-themed events in May: besides this holders' dinner, there will also be a "Crypto and AI Innovators Dinner" organized by MAGA Inc. Super PAC, with each seat priced as high as $1.5 million. This has raised questions from several politicians, including Senator Elizabeth Warren, who believe this may involve an exchange of benefits for "presidential privileges in exchange for business investments."
In response to the questioning, Trump emphasized that he 'did not profit from it' and views the crypto industry as a strategic field of competition between the U.S. and China. Faced with the TRUMP token price soaring by 50% after the dinner news was announced, Trump claimed to have 'no concept' of its valuation.
Consumer rights advocacy organization Craig Holman directly stated: "Trump once boasted 'too rich to be bought,' but now he has created a new model for political donations—using tokens instead of checks. We have never had a president who loves money as much as this one."
This accusation goes straight to the core of the issue: when crypto capital and political power dance so intimately together, is the boundary of democracy being redefined? In the eyes of the protesters outside the club, this dinner has already provided an answer.
