On Thursday, approximately 100 protesters assembled outside Donald Trump’s National Golf Course club in Virginia, voicing their concerns ahead of a secretive dinner designed for elite investors in his controversial cryptocurrency. Reports indicated that acquiring a spot at this exclusive gathering could cost upwards of $1.5 million to dine with the former president. The demonstrators held signs with messages such as “Stop Crypto Corruption,” “America is not for sale,” and “Grift Gala.” They also showcased a large gold coin adorned with a scowling image of Trump, chanting “shame, shame, shame” as the presidential motorcade made its entrance.
The event, which was marketed last month as “the most EXCLUSIVE INVITATION” worldwide, involved a competition for access to Trump by purchasing the most of his $TRUMP cryptocurrency. Notably, around 80 percent of the meme coin’s supply is controlled by the Trump Organization and its affiliates. This extravagant dinner is set to host the top 220 investors of the cryptocurrency, with an additional cocktail reception planned for the top 25 investors, as reported by The New York Times.
Protesters also called for the release of the guest list for the event, a request that the White House has thus far declined to fulfill. Critics argue that Trump is exploiting his prominent position to profit from his meme coin while potentially offering investors special favors in return for their financial backing. Democratic Senator Jeff Merkley of Oregon characterized the situation as “the Mount Everest of corruption,” emphasizing that this endeavor is not merely about campaign fundraising but rather about personal profit and influence.
Photos shared on social media from attendees revealed that they were treated to an extravagant meal, featuring dishes like filet mignon and seared halibut. According to NBC News, which referenced data from blockchain analytics company Nansen, guests collectively spent an astonishing $394 million on the $TRUMP cryptocurrency for the opportunity to dine with one of the world’s most powerful leaders. The average amount spent by attendees was approximately $1.78 million.
Analyzing the investor pool, a report by Bloomberg News indicated that nearly all but six of the top 25 investors utilized foreign exchanges that do not accommodate U.S. customers, raising alarms about the ethics surrounding foreign buyers gaining intimate access to the president. The report highlighted that more than half of the 220 holders of the cryptocurrency engaged with similar offshore exchanges. This influx of anonymous foreign investors has sparked significant concerns among Democrats regarding the implications of such exclusive access.
White House Press Secretary Karoline Leavitt dismissed allegations that the investment-driven dinner was inappropriate, asserting that Trump was attending in his personal capacity. “It is not a White House dinner,” she stated, later adding that it is “absurd” to suggest that Trump is profiting from his role as president. Leavitt emphasized that Trump had sacrificed greatly for his public service, noting that he had lost wealth and faced significant risks.
Despite the White House’s defense, many protestors remained skeptical. Rose Fabia, a 66-year-old resident from Arlington, Virginia, described the event as akin to a “black-market scheme,” expressing concern that Trump would utilize cryptocurrency as a means to enrich himself further. Among the guests, notable figures such as Justin Sun, a billionaire associated with the Tron platform, drew attention due to his controversial background, including a recent fraud charge by the Securities and Exchange Commission.
Trump's ambitions to integrate cryptocurrency more closely with the U.S. financial system have raised alarms among critics who believe his personal business interests, particularly with the $TRUMP cryptocurrency and his company, World Liberty Financial, may lead to a conflict of interest. The nonprofit organization, State Democracy Defenders Action, recently reported that Trump is likely to profit from the very policies he is advocating.
