$148 Million Crypto Deal: Trump’s Private Dinner Under Fire

Former President Donald Trump hosted a private black-tie dinner for 220 top crypto investors who collectively invested $148 million in his $TRUMP meme coin. The exclusive event was held at his Virginia golf club and quickly drew backlash over concerns about ethics and political influence.

🎯 Top Buyers Rewarded with VIP Access and Luxury Watches

The dinner was part of a contest for top crypto investors.

• The top 25 buyers, who spent over $111 million, attended a VIP reception with Trump.

• The top 4 investors received a limited-edition Trump Tourbillon watch, valued at $100,000 each.

According to Inca Digital, a crypto intelligence firm, total investments in the $TRUMP coin reached $148 million.

🚁 Trump’s Arrival and Protest

Trump arrived around 7 p.m. ET via Marine One, staying for just over an hour. The event was closed to media, sparking public outrage.

Outside, nearly 100 protesters gathered with signs like:

• “Stop Crypto Corruption”

• “America Is Not for Sale”

• “Release the Guest List”

🧾 Ethics and Political Access Questioned

Critics argue the dinner offered special access to Trump in exchange for money.
Ethics experts and lawmakers slammed the event as a clear example of political corruption.

Sen. Jeff Merkley (D-OR) called it a “stunning display of selling access for profit.”
Donald Sherman of CREW (Citizens for Responsibility and Ethics in Washington) called it “one of the most blatant examples of monetizing the presidency”.

📊 Who Owns the Coin?

An affiliate of the Trump Organization and Fight Fight Fight LLC controls 80% of the $TRUMP coin, according to its official website.

🧑‍⚖️ White House Defends Trump

White House Press Secretary Karoline Leavitt and spokeswoman Anna Kelly defended the event, saying it was a personal dinner and that Trump was not breaking any conflict of interest laws.

Leavitt said:

“It is absurd to claim this president is profiting from his office. He was successful long before entering politics.”

🇨🇳 Chinese Billionaire Justin Sun Attended

Despite the guest list being withheld, one prominent attendee was Justin Sun, a Chinese-born crypto billionaire worth $8.5 billion.
He promoted his attendance and support for $TRUMP online.

Sun has been under scrutiny since the SEC sued him in 2023 for unregistered crypto sales through his firms:

• Tron Foundation

• BitTorrent Foundation

• Rainberry

🔄 Trump’s Crypto Turnaround

Once a crypto skeptic, Trump is now one of its biggest backers:

• He launched his $TRUMP coin on January 17, 2025, just days before returning to the White House.

• At the Bitcoin 2024 conference, he vowed to make the U.S. a “crypto capital” and global bitcoin leader.

• He held a crypto summit at the White House, signed an executive order to create a Strategic Bitcoin Reserve, and dismantled the DOJ’s crypto fraud unit.

📈 Trump’s Massive Crypto Gains

Entities linked to Trump have earned over $300 million in trading fees since January, according to Chainalysis and ethics watchdogs.
Even bigger profits may come from Trump’s 60% stake in World Liberty Financial, a crypto firm connected to a recent $2 billion investment by an Abu Dhabi company into Binance.

Analysts say this deal alone could bring $27 million annually to World Liberty.

🔍 Ethics Investigation Launched

Sen. Richard Blumenthal (D-CT) has opened a preliminary ethics investigation into Trump’s crypto dealings.

He stated:

“This dinner is effectively putting a ‘For Sale’ sign on the White House. It’s auctioning access to power.”

Summary

Trump’s $TRUMP coin dinner has ignited serious ethics debates, with critics accusing him of selling political access through crypto investments. While Trump and his team maintain the event was private and legal, the presence of global investors, foreign billionaires, and multi-million-dollar gains is drawing increased attention and calls for accountability.