President Trump’s ‘unethical’ memecoin dinner today to host ‘controversial’ guest list

President Donald Trump is set to host a gala dinner for TRUMP memecoin holders, which his critics have labeled “unethical,” at the Trump National Golf Club in Washington, D.C. The “private in-person dinner will be attended by a 220 wallet-based guest list, with the top 25 holders getting a VIP reception with the president.

The top 25 wallets will have a one-on-one with President Trump at the White House, an honor only reserved for heads of state, an hour before the main three-and-a-half-hour dinner kicks off at 6 PM.

Thursday’s “ultra-exclusive private VIP reception” for Trump memecoin holders is reportedly the latest instance of the president ignoring ethical boundaries between the office and his profit-seeking. His obvious contempt for such boundaries has angered commentators across the political spectrum.

At the top of the list of concerns raised by the President’s critics is worry about the potential for foreigners to buy access to the sitting president, something the US Constitution explicitly prohibits. The concerns are based on the fact that most of the top TRUMP memecoin holders, including the top investors, are based in foreign countries.

Additionally, due to the anonymous nature of crypto, the real identities of the top TRUMP holders, who only provide self-selected three- to four-letter usernames and long cryptographic digital wallet addresses, are not easy to pinpoint. 

Murphy says the gala dinner ‘represents a real problem’

The top buyers of Trump's meme coin – mostly foreign oligarchs likely – get their secret meeting with him tomorrow night. It's fundamentally corrupt – a way to buy access to the the President.

The White House needs to release the list of attendees. pic.twitter.com/NtH1fvcceQ

— Chris Murphy 🟧 (@ChrisMurphyCT) May 21, 2025

Connecticut Democrat Sen. Chris Murphy said in a hearing this week that the gala “represents a real problem.” Republican crypto advocate Sen. Cynthia Lummis of Wyoming also said the event gave her “pause.”

The progressive advocacy group Public Citizen is organizing a protest outside the Potomac Falls, Virginia, golf course on Thursday and is calling on the Department of Justice and other officials to hold Trump accountable. 

The U.S. President reportedly likes to blur the lines between personal business and public office, but his critics suggested that he would be helping himself by calling off his Thursday gala. They added that if he failed to do that, he could at least disclose 220 wallet holders so Americans know who may be trying to buy access to the President.

“There is clearly a way around the State Department for foreign individuals of significant influence and wealth to be able to directly lobby the president.”

–Chris Murphy, junior U.S. Senator for Connecticut 

Chinese-born crypto entrepreneur Justin Sun is the only publicly known guest, and he has invested nearly $100 million in Trump-related crypto projects, including $75 million in WLFI and roughly $22 million in TRUMP. According to Forbes, Sun’s actions, including the buying he influenced from other crypto enthusiasts, have generated about $400 million for the Trump family.

Democrats warn Trump is seeking to enrich himself 

Sen. Adam Schiff, a California Democrat, said the first 114 days of Trump’s administration were “one bad deal after another for American families.” He, however, pointed out that the same 114 days were the greatest deal of all time for the Trumps. Democrats and ethics groups argued that the potential corruption of the second Trump administration had far surpassed the first term.

However, Tiffany Muller, president of the Democratic-aligned group End Citizens United, said that how Democrats message their anti-corruption arguments will be critical. She added that Democrats should talk about tangible actions they can take to fight corruption, including a congressional stock trading ban. 

Faiz Shakir, an adviser to independent Vermont Sen. Bernie Sanders, argued that Democrats should combine pushback on corruption with a “proactive, positive agenda,” similar to tactics used by Democrats in the 2006 midterms when they took control of both chambers of Congress. 

However, while some Republicans like Lummis have expressed concerns about Trump’s potential conflicts of interest, House Speaker Mike Johnson defended the president’s actions.

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