Trump to Host Two Crypto Dinners This Month Amid Growing Ethics Concerns

President Donald Trump is continuing to court the crypto crowd with not one but two crypto-themed dinners this month.

Trump spoke at a $1.5 million-per-plate “Crypto & AI Innovators Dinner” hosted by super PAC MAGA Inc., at the Trump National Golf Club in Virginia on Monday, according to his public schedule. The event, which was closed to the press, also featured “crypto czar” David Sacks as a guest.

On the same day, he also confirmed a gala dinner, slated for May 22, for holders of the $TRUMP meme coin at his private Trump National club. 

The event will bring together the top 220 token holders, with the highest-ranking 25 promised a private reception and a White House tour.

Hodlers of $TRUMP

Access to the black-tie optional dinner is determined by how many $TRUMP tokens a person’s wallet holds. The contest closes May 12, and a live leaderboard on the project’s site shows the current standings. Usernames can be submitted publicly, but most of the wallets are pseudonymous.

Together, the two events have sparked backlash from lawmakers who accuse Trump of selling access to wealthy crypto backers.

Last month, Sen. Elizabeth Warren (D-Mass.) and Rep. Adam Schiff (D-Calif.) co-signed a letter warning meme coin gala offers “exclusive access to the presidency in exchange for significant investment in one of the President’s business ventures.”

Warren has also raised alarms over the Trump-linked stablecoin USD1, launched by World Liberty Financial, a firm co-founded by Trump’s son Eric and crypto investor Zach Witkoff. 

The coin, backed by short-term U.S. Treasuries, has surged to become the world’s seventh-largest stablecoin following a $2 billion investment in Binance from Abu Dhabi’s MGX Group.

“Looks like corruption, smells like corruption,” Warren said last week, accusing the Trump family of using crypto to personally profit while legislation that could benefit them advances in the Senate. 

She warned that a Republican-backed bill to regulate stablecoins—expected to receive a floor vote this week—could “greenlight the grift.”

The event has also reignited debate over transparency in political crypto fundraising, as neither Trump nor his campaign have disclosed the identities of top token holders.

Watchdog group Accountable.US called the $TRUMP leaderboard dinner “the most nakedly corrupt self-enrichment scheme in U.S. presidential history,” citing concerns that anonymous wallets could be controlled by foreign actors. 

Accountable.US claims Tron founder Justin Sun could be the largest holder of $TRUMP, while roughly 80% of the token supply is held by Trump affiliates, according to its webpage.

The White House did not immediately respond to Decrypt’s request for comment.

Despite terms stating that Trump’s attendance isn’t guaranteed and that the event could be canceled “for any reason,” interest in the token has soared, up more than 50% after the dinner was announced last month, CoinGecko data shows.

If the May 22 dinner falls through, contest winners will receive a Trump-branded NFT.

Edited by Sebastian Sinclair