Trump's $148M Meme Coin Dinner Sparks Praise, Protest, and Foreign Influence Fears

Trump’s $148M Meme Coin Dinner Sparks Praise, Protest, and Foreign Influence Fears

President Donald Trump hosted a lavish black-tie dinner Thursday evening at Trump National Golf Club in Virginia for the top 220 holders of his meme coin, $TRUMP. The event, framed as a “thank you” to supporters, raised eyebrows for its $148 million price tag—the total investors spent to earn their seats.

Among the attendees: Justin Sun, Chinese crypto billionaire and founder of Tron, who holds over $20M in $TRUMP tokens. The top 25 holders, who contributed more than $111M combined, received VIP treatment, limited-edition Trump watches, and a private reception.

But outside the gala, over 100 protesters rallied with signs reading “America is not for sale” and “Stop Crypto Corruption.” Critics—including lawmakers like Sen. Elizabeth Warren—warn that the event blurs ethical lines, especially with many attendees likely based outside the U.S. and holding significant financial stakes in Trump’s ventures.

The Trump Organization and CIC Digital LLC reportedly control 80% of the $TRUMP supply, having earned more than $320 million from the coin. White House officials claim all assets are in a blind trust managed by Trump’s children.

Analysts say this meme coin diplomacy could bring long-term legal and reputational risks. Data shows over 60 major wallets have profited $1.5B since the coin launched—while some 600,000 smaller holders lost $3.87B.

One key concern? A tiny U.S. firm with ties to China, as reported earlier by Finblog, recently disclosed a $300M purchase of $TRUMP coin. While not confirmed to be linked, the timing has raised further questions about foreign influence and national security.

As the meme coin frenzy continues, even some Republican crypto advocates are raising red flags. Senator Cynthia Lummis said the dinner gave her “pause.”

And yet, the party didn’t end with dessert. A Singapore-based firm threw an after-party dubbed “Meme The Night,” celebrating what one attendee called “a historic moment in crypto and politics.”