Trump's Crypto Dinner: What Happened?
Donald Trump's crypto dinner, held on May 22, 2024, at the Trump National Golf Club, attracted significant attention within the crypto community. The event, intended for the top 220 holders of the TRUMP meme coin, generated both excitement and controversy.
Key Event Details
The dinner, starting at 7:00 p.m. and concluding at 10:00 p.m., featured a guest list largely comprised of non-US investors. The event's exclusivity and the reported $900,000 in fees collected by the Trump team raised questions regarding “pay-for-access” concerns. While the Trump family managed the crypto projects, critics, including Robert Reich, voiced concerns about potential conflicts of interest.
Notable Attendees
- Justin Sun, founder of Tron, was reported to be the top TRUMP coin holder with $75 million in holdings.
- MemeCore, a Singaporean crypto company, and Kain Warwick, an Australian crypto investor, were among other prominent attendees.
Analysis by Nansen indicated that the 220 invitees spent nearly $394 million on TRUMP tokens, averaging $1,788,994.42 per attendee. 19 of the top 25 holders reportedly interacted with Binance, a platform not operating in the US. The top 25 holders were given a VIP White House tour.
Post-Dinner Fallout and Market Impact
The event sparked protests, with Eric Trump dismissing critics as paid protestors. Discussions surrounding crypto regulation and industry development took place, reflecting Trump’s continued interest in the crypto space. Following the news of the dinner, the TRUMP meme coin, launched in January 2025, experienced a price rally, trading at $14.35 with a market cap of $2.87 billion.
Future Outlook
Experts predict further price increases for the TRUMP coin, potentially reaching $25 or more, given the ongoing bull market. However, given the controversial nature of the dinner and the ongoing regulatory uncertainty, investors should approach the market with caution and conduct thorough due diligence.
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