As guests filed into the event, and President Trump arrived by Marine One helicopter, more than 100 protesters at the Trump National Golf Club crowded along the edge of the parking lot along the street.
Signs included, “America is not for sale,” “stop crypto corruption,” and “release the guest list.”
In a video posted on social media by a meme coin contest dinner 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.”
In total, investors spent an estimated US$148 million on the $TRUMP meme coin to secure their seats at the dinner, with the top-25 holders spending more than US$111 million, according to crypto intelligence firm Inca Digital.
These top holders enjoyed a private VIP reception with Trump, and the four largest investors also received a limited edition Trump Tourbillon watch that sells for US$100,000.
Among those in attendance was China-born crypto entrepreneur and billionaire Justin Sun, who posted a video of himself, underscored by triumphant music, entering the ballroom and dressed in a tux.
Sun won first place in the dinner contest with his US$18.5 million wallet, and is also the largest publicly known investor and an adviser to World Liberty Financial, the Trump family’s crypto platform, which has made them hundreds of millions of dollars.
On Wednesday, Sun also posted a video of himself visiting the Executive Office Building, part of the White House complex.
In February, the US Securities and Exchange Commission paused its 2023 fraud case against Sun, citing public interest.
More than half of the 220 holders who attended the black-tie event are likely based outside the United States, according to blockchain analysis.
Senior Democratic members of the House and Senate held a press conference to highlight what they describe as Trump’s corrupt crypto practices and to push for legislation that would ban such activities.
“Donald Trump’s dinner is an orgy of corruption,” said Massachusetts Senator Elizabeth Warren.
Connecticut Senator Chris Murphy noted the anonymity of attendees.
“Reportedly, there’s going to be a guy there tonight called Ogle,” Murphy said. “That’s it. That’s all we know about this guy. He wears a mask all the time.”
In response to criticisms about Trump using his office to enrich himself from the meme coin, White House spokeswoman Karoline Leavitt said on Thursday: “All of the president’s assets are in a blind trust, which is managed by his children. And I would argue, one of the many reasons that the American people re-elected this president back to this office is because he was a very successful businessman before giving it up to publicly serve our country.” (Reuters)
