On the evening of May 22, 2025, local time, 220 cryptocurrency investors gathered at a golf club by the Potomac River to enjoy a lavish dinner with Trump while admiring the "magnificent views of the Potomac River." The entry ticket was the official meme coin $TRUMP issued by Trump himself.
This dinner was essentially a gilded game for the crypto industry, jointly announced on April 23 by CIC Digital LLC (a subsidiary of the Trump family business group) and Fight Fight Fight LLC, promoting the event as "the most prestigious invitation in the world" and offering lucky attendees the chance to "hear President Trump talk about the future of cryptocurrency."
Before the dinner began, the organizers issued a notice prohibiting guests from live streaming or bringing recording devices. However, it seems this requirement was not strictly enforced, as many attendees have started posting their own photos of the dinner on X and WeChat Moments. Based on the publicly available photos, BlockBeats has compiled and summarized the details and some interesting aspects of the event.
Inside Dining, Outside Protests
It is reported that besides Justin Sun, notable figures from the crypto world such as Jihoz.ron, co-founder of Ronin Network, and Jack Lu, co-founder and CEO of Magic Eden, also attended and shared updates on social media about their participation in the dinner. Trump himself made his classic entrance by landing at Mar-a-Lago on Marine One.
Scene of Trump’s entrance at the dinner, image source from X
After a brief introduction by the host, Trump stepped out from behind the curtain and gave a short speech to the guests. Interestingly, while introducing Trump, the host once again "paid tribute to the people," using terms like "crypto president" and "the 48th president of the United States," which are quite "anti-establishment."
Photo of Trump’s entrance, image source from X
$55,000 "Trump White Dinner"
The dinner's menu, valued at "55,000 dollars," was also revealed on social media. According to on-site photos, the menu started with an appetizer of heirloom tomato burrata cheese salad, served with fresh basil garlic sauce, Italian balsamic, and tender sprouts for the $TRUMP holders.
There were three main course options: filet mignon with a rich red wine sauce, accompanied by mashed potatoes and asparagus; or pan-seared salmon with lemon cream sauce, served with wild rice and asparagus; or for vegetarian guests, stuffed mushrooms filled with nutritious quinoa and spinach, served with roasted red pepper sauce. The meal concluded with a silky rich chocolate mousse cake for dessert.
Photo of the dinner dishes, image source from the internet
Similar dishes are commonly found in the U.S. as "white dinners," available at the Trump Tower in New York and the Trump International Hotel in Chicago. Based on the menus from these two restaurants, I roughly calculated the prices of the dishes served at tonight's dinner.
Menu from Trump Tower and hotel, image source from Trump Tower official website
For example, at TRUMP GRILL in New York, a premium salad with added shrimp costs $32, a New York prime sirloin steak upgraded with black truffle fries costs $53, and a Brooklyn Black Forest cake with Lucado cherries, Tahitian vanilla, fresh cream, and chocolate sauce costs $15, totaling $100. Adding a 20% tip and about 9% sales tax, the total comes to no more than $130.
Trump Tower restaurant and dishes, image source from Trump Tower official website
However, according to the dinner participation requirements, the 220th holder of the TRUMP coin, the last guest, held 4,196.117 TRUMP coins, which, based on the closing price of TRUMP on May 12 when the list was locked, is valued at approximately $55,000. To enjoy a "white dinner" with Trump, the crypto enthusiasts certainly put in a lot of effort.
$100,000 "Trump Gold Watch"
Another highlight of the event was the "Trump Gold Watch" worn by Justin Sun. At this dinner, the top 25 investors enjoyed private VIP treatment with Trump, while the top four investors received limited edition Trump Tourbillon watches. As the top holder of TRUMP, Justin Sun was one of the guests to receive this gift.
Justin Sun being presented with the Trump Tourbillon watch at the dinner, image source from X
According to official sources, each watch is valued at $100,000. Each Trump Tourbillon watch is numbered, with a total limited release of 147 pieces worldwide. Trump himself owns watch number 1. Whether through the "hunger marketing" of the watch or its luxurious "gold" color scheme, it reflects Trump's personal style.
Three models of Trump Tourbillon watches, image source from Trump Tourbillon official website
Trump's love for gold is a hallmark of his personal brand. He views gold as a symbol of power, evident from the golden decor in Trump Tower in New York, Trump International Hotel, and Mar-a-Lago in Florida. The Oval Office in the White House was also adorned in gold, with golden emblems, golden statues, golden paperweights, and coasters, all reflecting his taste and preferences. In Trump's view, white represents surrender and weakness, while gold is the ultimate symbol, as he considers "whoever has the gold makes the rules" to be the "golden rule" of negotiation.
White House interior; Trump’s golden paperweight; Trump’s account, image source from X
Public Protests, Democrats Condemn
It is noteworthy that this crypto dinner was not the only crypto event hosted by Trump this month. On May 5, Trump held a cryptocurrency and AI innovators dinner at the Trump National Golf Club in Virginia, with an entry fee of $1.5 million per person, and invited special guest David Sacks, making it one of the most expensive political fundraising events in recent years.
According to The New York Times, Trump's series of "copper flow corruption" actions have drawn criticism from various sectors, including the Democrats. On May 23, protesters gathered outside the Trump National Golf Club in Washington to protest the crypto dinner held for the top holders of Trump's memecoin. At the entrance to the dinner, dozens of protesters shouted "Shame, shame, shame," holding signs with slogans like "Stop crypto corruption," "Release the guest list," and "No kings."
Protesters outside the dinner, image source from X
Perhaps to mitigate the impact, the originally scheduled visit to the White House by the 25 distinguished guests was also removed from the $TRUMP website.
Among the protesters was Democratic Senator Jeff Merkley from Oregon, who shouted at the entrance of Trump’s golf course, "This is a crypto corruption club," calling the dinner "the Everest of corruption."
Massachusetts Senator Elizabeth Warren stated that Trump's private dinner with his token holders could constitute "corruption through the abuse of power" and called for an ethical investigation. U.S. Senator Jon Ossoff publicly called for Trump's impeachment, stating, "When the sitting president of the United States sells access to himself for direct payments, it undoubtedly reaches the level of impeachable offenses."
Additionally, the U.S. Constitution prohibits federal officials from accepting gifts from foreign governments, and since the identities of $TRUMP token holders are anonymous, it is difficult to rule out the possibility of foreign entities gaining political access through token purchases. Senator Warren has joined nine other lawmakers in sending a letter to the ethics office, requesting an investigation into whether Trump has effectively accepted bribes through token sales.
$TRUMP was launched on the Solana chain on January 17, 2025, with an initial total issuance of 1 billion coins, of which 20 million coins (20%) were sold through ICO, while the remaining 80% (80 million coins) were held by the aforementioned two companies. In the days following the launch, the value of the 20% issued TRUMP tokens skyrocketed to $14 billion. On paper, Trump's net worth increased by hundreds of billions of dollars almost overnight.
Since then, the value of the coin has dropped by more than 80% from its peak. However, after Trump announced the dinner on April 23, a trading frenzy ensued, causing the price of the memecoin to soar. As market intermediaries, Fight Fight Fight and CIC Digital likely earned hundreds of thousands of dollars from transaction fees.
"Crypto Dinner Enthusiasts" vs. Democrats
Currently, the most circulated video from the dinner comes from Justin Sun. As the "top holder," he thanked Trump for everything he has done for the crypto industry from the podium, stating, "Just 100 days ago, they were hunting down cryptocurrency people everywhere, and we couldn't possibly hold such a grand event in Washington. All the crypto people gathering in the U.S. to do crypto business is the best thing I can think of in my life."
Justin Sun giving a speech at the dinner, image source from X
As a major supporter of Trump, Justin Sun invested $75 million in Trump's family project, World Liberty Financial (WLFI), after which his pending civil fraud case was halted by the U.S. Securities and Exchange Commission (SEC) on the grounds of conflicts of interest and "public interest."
The SEC's action was questioned during a congressional hearing on May 21, where Maryland Democratic Congressman Glenn Ivey raised concerns about SEC Chairman Paul Atkins' connections to Trump's related memecoin and cryptocurrency entrepreneur Justin Sun, stating, "This smells very wrong," and hoped the SEC would investigate the matter.
As Trump's personal interests become increasingly intertwined with the crypto industry, skepticism among Democrats regarding Trump's exploitation of the crypto industry for corruption and personal gain has grown louder, affecting the progress of crypto legislation.
On May 22, the stablecoin "GENIUS Act" passed a motion to proceed to the amendment process with a vote of 69 in favor and 31 against. This bill could become the first federal regulatory framework for stablecoins in the U.S., widely regarded by the industry as potentially reshaping the entire stablecoin market.
However, the next day, Democrats expressed their opposition to the bill. On May 23, Axios reported that Senate Minority Leader Chuck Schumer, Senator Elizabeth Warren, and Senator Jeff Merkley would submit an amendment to the "GENIUS Act" to prevent the U.S. president from profiting from stablecoins.
Previously, Democrats had already fiercely obstructed the bill. On May 9, the U.S. Senate voted down the bill, with Democrats demanding the inclusion of explicit provisions prohibiting executive officials, including Trump and his family members, from holding or trading cryptocurrencies, as well as strengthening anti-corruption clauses.
Democrats' concerns about Trump's interests first emerged from a Wall Street Journal report.
On March 13, 2025, the Wall Street Journal revealed that the Trump family was negotiating to acquire a significant stake in Binance.US. Although this was strongly denied by CZ, it was confirmed by Bloomberg, suggesting that a collaboration was imminent to launch a stablecoin. This stablecoin is the recently launched USD1 on Binance. That month, the Abu Dhabi-based investment firm MGX announced it would invest $2 billion to purchase shares in Binance, but at that time, the specific channels for investing in Binance were unclear.
At the end of April, WLFI and CZ's official social media accounts released photos of WLFI's three co-founders meeting with CZ in Abu Dhabi. On May 1, Trump's son Eric Trump stated that World Liberty Financial's issuance of the USD stablecoin (USD1) had been officially selected as the stablecoin to complete MGX's $2 billion investment in Binance.
CZ meeting with WLFI founders, image source from X
As the lights of the dinner by the Potomac River illuminated, the crypto players and the "traffic president" completed a mutual engagement, and the essence of this crypto carnival has long transcended simple crypto hype. It is both another explosive marketing success for the Sun family and a manifestation of the close integration of political power and virtual assets, with the absurd contrast of "indoor grand feasting, outdoor protests" highlighting the increasingly polarized attitudes of the two parties towards crypto in the U.S.
Whether he genuinely wants to help the industry rise or is more interested in creating a new cash cow for his family, this "crypto president" is increasingly at the center of attention. The grand crypto dinner may just be a performance of ambition, and what storms will arise in the ensuing party struggles remains to be seen.
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