Trump’s Official Meme Coin $TRUMP Hosts Private Dinner Amid Protests
The top 220 holders of Trump’s official meme coin $TRUMP were invited to a private dinner at the Trump National Golf Club in Washington, D.C. last night, with Trump himself in attendance. However, over 100 protesters gathered outside, holding signs such as “Stop Cryptocurrency Corruption,” “America is Not for Sale,” and “Scam Dinner,” while chanting “Shame.”
In January of this year, Trump launched his meme coin TRUMP on the Solana blockchain and has previously issued a series of NFT collectibles. Additionally, his family members are involved in multiple cryptocurrency ventures, including the decentralized finance (DeFi) project World Liberty Financial, the stablecoin USD1, and the Bitcoin mining company American Bitcoin.
Critics have raised several concerns regarding Trump’s personal involvement in the cryptocurrency business, including the potential for profit through the meme coin. U.S. Democratic Senator Chris Murphy condemned Trump during a hearing on Tuesday for failing to maintain the separation between family business interests and overseas transactions, warning that this could lead to dangerous conflicts between national security and personal interests, and might even “provide a channel for certain influential and wealthy foreigners to lobby directly to the U.S. President, bypassing the State Department.”
It is not only outsiders who have raised questions. Trump supporter and partner at cryptocurrency investment firm Castle Island Ventures, Nic Carter, has also expressed concerns.
The dinner hosted by the Trump meme coin team sparked considerable criticism. However, White House Press Secretary Karoline Leavitt stated on Thursday that there was nothing wrong with the event, saying:
Industry Figures Attend Trump Meme Coin Dinner
According to the New York Times, the guests at the dinner included Tron blockchain founder Justin Sun (the largest holder of TRUMP tokens at the event), NFT platform Magic Eden CEO Jack Lu, Vincent Liu, chief investment officer of the high-frequency trading company Kronos Research founded in Taiwan, and former NBA player Lamar Odom.
Trump also spoke at the banquet, promising to change the government’s approach, stating:
Justin Sun also shared a video of his speech at the banquet, in which he expressed, “I really appreciate everything the Trump administration has done for our industry. As the President previously mentioned, essentially, just 100 days ago, they were hunting down cryptocurrency people everywhere.”
Regarding accusations that the TRUMP token is a tool for bribery, Justin Sun stated in an interview with CoinDesk after the event that critics need to open their eyes, saying, “There are many positive changes happening in this industry right now.”
He described the dinner as a clear signal that the U.S. is re-establishing itself as a global center for the cryptocurrency industry, which stands in stark contrast to the Biden administration’s hostile stance. He noted that some cryptocurrency companies had previously considered relocating overseas due to regulatory pressure, “but now they have changed their minds.”
