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Donald Trump’s lavish gala dinner for top holders of the TRUMP meme coin has sparked a fierce backlash, with Democrats calling it an “orgy of corruption” and warning of foreign influence and pay-to-play risks.
High-profile guests at the event included TRON founder Justin Sun, the largest known holder of the token, Magic Eden CEO Jack Lu, and BitMart CEO Sheldon Xia.
They were served upscale dishes like filet mignon and molten lava cake, and received $100,000 Trump-branded watches, raising alarm over potential political favoritism and pay-for-access.
Honored to be at the Trump Crypto dinner with @GetTrumpMemes
Going to be a great night! pic.twitter.com/H4fBZbtxKf
— Jack (@0xLeoInRio) May 22, 2025
Democrats are demanding the White House release the full list of guests, citing ethical and national security risks.
Senator Elizabeth Warren called the event an “orgy of corruption,” warning that the public has no idea who is buying influence with the president or what they might be receiving in return.
Protesters gathered at the Trump National Golf Club to denounce the event, carrying signs that include ”America is not for sale,” and ”stop crypto corruption.”
Attendees Invested $148M In Trump Coin To Attend Dinner
Attendees had invested an estimated $148 million in the TRUMP meme coin to earn their seats at the dinner, with more than $111 million of that from the biggest 25 buyers.
Investments in TRUMP by attendees had ranged from a high of $37.7 million to a low if $55,000, according to Nansen. Over half of the 220 attendees were from outside the US, intensifying concerns about foreign influence.
The White House spokeswoman Karoline Leavitt responded to criticism of the dinner by saying that all of the president’s assets are held in a blind trust that is managed by his children.
Although the White House said Trump attended in a personal capacity, he spoke from a podium featuring the presidential seal and ended the night dancing to “YMCA.”
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