Kathrine Frich
Trump touted the gala on social media as the “most EXCLUSIVE INVITATION in the world.”
Trump touted the gala on social media as the “most EXCLUSIVE INVITATION in the world.”
Buyers of the $TRUMP cryptocurrency will find out this week if they’ve secured a coveted spot at an exclusive dinner with Donald Trump on May 22.
The event is part of a high-stakes promotional campaign tied to Trump’s meme coin, and it’s already raised serious ethical red flags.
The “Most Exclusive Invitation in the World”
Trump touted the gala on social media as the “most EXCLUSIVE INVITATION in the world.”
The top 220 $TRUMP holders qualify for the dinner, with the top 25 gaining VIP access and a private tour of Trump’s private club near Washington, D.C.
Crypto Ranking System Favors Long-Term Holders
Winners were chosen based on a time-weighted ranking of holdings between April 23 and May 12.
At the time of ranking, the 220 leading wallets collectively held $160 million worth of $TRUMP, with top positions linked to major players in the crypto world.
Justin Sun Tops the List, Sparks Questions
The #1 spot belonged to wallet “SUN,” believed to be linked to HTX exchange and businessman Justin Sun.
Sun previously said he invested $75 million in the Trump family’s crypto venture, World Liberty Financial. He is also listed as an adviser to the project.
$TRUMP Coin: From $75 to $7.5 and Back to $14
After an initial surge to $75, the token crashed to $7.5 and later stabilized around $14.
Despite the volatility, the market cap remains massive, roughly $2.74 billion, with the Trump family and affiliates reportedly holding 80% of the supply.
Trump’s Attendance Not Guaranteed
Despite heavy promotion, the terms of the event state clearly that Trump’s presence is not assured and that the dinner can be canceled “for any reason.”
The announcement has added to skepticism about the project’s legitimacy and purpose.
Ethical Firestorm Over Foreign Influence and Secrecy
Experts in government ethics have sounded alarms, warning that anonymous foreign investors could be buying influence with the former U.S. president.
Senator Richard Blumenthal has launched an investigation into the legality of such crypto-funded access.
Trump Legal Team in Flux Amid Rising Scrutiny
Ethics counsel William Burck, originally named to oversee Trump’s financial trust, was dismissed in April for a conflict related to representing Harvard University in a dispute with the Trump administration.
Neither Trump nor his organization has responded to press inquiries.
“It’s Like Trump Posted His Venmo”
Senator Chris Murphy denounced $TRUMP as “the most corrupt act ever committed by a president,”
He argues that the coin enables billionaires and oligarchs to send money to Trump anonymously in exchange for political favor.
Crypto Profits for a Few, Losses for Many
Analysis from Inca Digital and Bubblemaps shows that more than 60 large wallets earned around $1.5 billion since the coin’s launch.
At least 15 wallets gained over $1 million each. Meanwhile, about 600,000 wallets lost a combined $3.87 billion, including $117 million after the dinner announcement.
A Young Investor’s Risky Bet
One example: Kali, a 27-year-old from Hawaii, put $10,000 into the coin hoping to make the top 220.
She now faces a major financial loss after the token’s rapid devaluation.
Her story reflects the risks average investors face in politically charged crypto schemes.