Trump’s Meme Coin Gala Draws Global Elites, Ethical Scrutiny, and Billion-Dollar Investor Divide

On Thursday, high-profile buyers of Donald Trump’s meme coin ($TRUMP) gathered for an exclusive black-tie dinner at Trump National Golf Club, situated just outside Washington, D.C. As Marine One delivered Trump to the event, over a hundred protesters lined the street outside, brandishing signs that decried what they called crypto corruption and demanded transparency. Inside, guests from across the globe mingled at a dinner meant to reward the top investors in Trump’s cryptocurrency platform, World Liberty Financial.

Among the elite attendees was crypto billionaire Justin Sun, who won first place in the coin-holder contest with an $18.5 million wallet. Sun, who recently saw an SEC fraud case paused in the public interest, is also an adviser to Trump’s crypto platform. Investors reportedly spent $148 million to attend the event, with the top 25 contributors spending over $111 million. These high-tier attendees received special treatment, including a VIP cocktail reception and luxury Trump-branded watches valued at $100,000 each.

Global Attendees Spark Ethical Debate Over Trump’s Crypto Event and Influence

Blockchain analysis revealed that more than half of the 220 attendees likely hailed from outside the U.S., underscoring the coin’s global appeal. Critics, however, voiced alarm over the ethical implications of a former president profiting from such ventures. A Trump spokesperson insisted the president’s assets are managed by a blind trust, denying direct involvement. Still, watchdogs and Democratic lawmakers see the event as emblematic of deeper concerns about mixing public office and personal enrichment.

Sheldon Zia, founder of BitMart, joined other top-tier investors at a private cocktail event and a scheduled tour that originally included the White House—a detail that has since been scrubbed from the official meme coin website. Meanwhile, domestic Trump loyalists like Vincent Deriu, who spent $116,000 to attend, highlighted the passionate support among U.S. investors. The evening featured a luxury menu and concluded with a celebratory after-party titled “Meme The Night,” organized by Singapore-based firm MemeCore.

Bipartisan Concerns Rise Over Trump’s Crypto Profits and Investor Losses

Democratic lawmakers seized the moment to spotlight what they termed corrupt crypto practices. Senators like Elizabeth Warren and Chris Murphy criticized the dinner’s secrecy and Trump’s financial entanglements. Calls for legislation to ban public officials from owning or promoting crypto ventures have grown louder, though Democrats face a Republican-majority Congress that could stymie any such efforts. Even some Republicans, like Senator Cynthia Lummis, expressed discomfort over the optics and ethics of the event.

Since the meme coin launched in January, a small number of wealthy investors have amassed nearly $1.5 billion in profits, with $48 million of that gained after Trump publicly promoted the event. Conversely, approximately 600,000 smaller investors have collectively lost close to $3.9 billion. These stark disparities have drawn attention to the high-risk, high-reward nature of meme coins—and further fueled criticism of Trump’s latest foray into the crypto world as a “race to the bottom for presidential grifting.”