Trump pulls in rich crypto whales globally for meme coin dinner

Crypto investors from around the world funneled $148 million into Trump’s meme coin for a private dinner held Thursday at his Virginia country club. The invite-only event took place at Trump National Golf Club in Sterling, just outside Washington, with Trump flying in by Marine One.

Dozens of wealthy holders of the $TRUMP coin arrived in limousines and black-tinted SUVs while protestors gathered at the gate. Some held signs that read “Crypto corruption” and “America is not for sale.”

The dinner was the final reward in a months-long contest that ranked buyers of the $TRUMP meme coin. The top 25 wallets — which alone spent over $111 million — got VIP access, and four of them received limited edition Trump Tourbillon watches valued at $100,000 each.

A total of 220 holders were invited. Over half of them were traced to non-US countries through blockchain data. Inside the ballroom, guests wore tuxedos, ate filet mignon and halibut, and posed for photos with Trump, who spent around an hour at the event.

Crypto moguls cash in for private access

Justin Sun, the China-born billionaire behind multiple crypto projects, came out on top of the contest. He spent $18.5 million in $TRUMP coin, earning himself first place and a front-row seat at the dinner.

Justin, who is an adviser to Trump’s World Liberty Financial, also posted videos of himself at the Executive Office Building earlier in the week. His SEC fraud case was paused in February. “Grateful for the invitation,” Justin wrote on X. The SEC declined to respond when asked about Sun’s attendance.

In a video posted by a guest, Trump told the crowd: “I always put the country way ahead of the business. You become president of the United States, and you want to see people thrive and succeed. The Biden Administration persecuted crypto innovators and we’re bringing them back into the USA where they belong.”

A firm linked to the Trump family and a second unnamed company currently hold 80% of the $TRUMP coin supply. Together, they’ve already collected over $320 million in fees — at least $1.35 million of that came after the dinner announcement, based on blockchain analytics reviewed before the event.

Vincent Liu, chief investment officer at Kronos Research in Taiwan, said he joined the event for a chance to connect with other crypto whales. “That kind of access is rare,” Vincent said.

Former NBA player Lamar Odom also attended, sharing images of himself with a meme coin promotion on his social media account. Odom walked past protestors carrying an umbrella. Protestors at the gate shouted “Trump is a traitor” and waved signs condemning crypto ties to politics.

Democrats slam dinner, call for crypto ban in government

Not everyone was happy. On the same day, Senator Elizabeth Warren and Senator Chris Murphy held a press conference slamming Trump’s dinner as “an orgy of corruption.” Even Senator Cynthia Lummis, one of the most vocal crypto supporters in Congress, admitted the event “gives her pause.”

Senator Murphy raised concerns over the lack of transparency, pointing out the presence of a man known only as Ogle. “That’s it. That’s all we know about this guy,” he said.

Ogle, reached later, said he hides his identity for safety reasons. He’s a crypto security specialist who says he’s helped victims recover over $500 million in stolen crypto.

“My motive for attending this dinner is very straightforward,” Ogle said. “I’m curious by nature, I believe it will be an historic moment, and I’m fortunate to have the opportunity to go.” He holds $3.6 million in $TRUMP coin and is an adviser to World Liberty Financial. Ogle ranked 22nd in the contest.

Sheldon Zia, founder of the Cayman Islands-based BitMart exchange, was also among the top 25. He posted on X that he would be attending both the dinner and a VIP cocktail event beforehand.

Vincent Deriu, a 27-year-old consultant from New York, said he owns dozens of Trump product,s including watches, sneakers, and over 50 NFTs. He paid $116,000 for his seat at the dinner.

Plates served that night included organic field greens, mashed potatoes, a vegetable medley, and warm chocolate lava cake. A gold-lettered photo of the menu made its way onto X minutes after the event.

Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now