Author: Weilin, PANews
On the evening of May 22, local time, U.S. President Trump held a private dinner for the top investors of his Meme coin — $TRUMP, at Trump National Golf Club in the suburbs of Washington. As one of the most representative political tokens in the current crypto market, the $TRUMP dinner has attracted widespread attention from the crypto market.
Although most of the guest list was anonymous, some details of this crypto political dinner can still be pieced together from public information and on-site reports.
1. The dinner is held at 'Presidential Home' Trump National Golf Club, maintaining privacy.
The dinner was held at Trump National Golf Club in the suburbs of Washington, D.C. According to the itinerary released by the White House, a reception for presidential VIPs (the top 25 wallet address holders) began at 5:00 PM. The main dinner was from 6:00 PM to 9:30 PM, with Trump planning to leave the venue at 8:30 PM. Notably, this dinner was not open to the media, prohibiting live streaming or bringing recording devices, while allowing the use of mobile phones, maintaining a high level of privacy.
2. The first 220 holders: Average spending per person was $1.78 million, with the lowest cost being about $1,200.
According to NBC News citing blockchain analytics firm Nansen, the 220 invited guests at the dinner collectively invested up to $394 million in $TRUMP tokens, averaging about $1.78 million per person. The vast majority of these investors remain anonymous, although some holders have chosen to reveal their identities. Tron founder Justin Sun holds over 1.43 million Trump coins, making him the largest holder. In addition, Ronin Network co-founder Jihoz.ron, Magic Eden CEO Jack Lu, and BitMart CEO Sheldon Xia also posted on social media about their participation in this banquet.
Notably, according to Bloomberg, holder Christensen and his 4 friends used a strategy of buying and shorting the same amount of Trump Meme coins, and after the guest list for the dinner was announced, they immediately sold their Trump tokens and covered their short positions, maintaining their ticket cost at around $1,200 each.
According to The Guardian, based on trading history and portfolios up to May 21, among the 220 attendees of the TRUMP dinner, 95 (about 43%) have suffered net losses totaling $8.95 million since the coin launched in January due to purchasing TRUMP. A user named "GAnt" seems to have suffered the most, losing $1.06 million despite ranking fourth on the leaderboard. Similarly, user "Meow" also lost $621,000 despite achieving VIP status.
The known attendees of the dinner include:
Justin Sun: Founder of Tron (TRON), largest holder of $TRUMP
Kain Warwick: Founder of Synthetix, Australian crypto entrepreneur
Vincent Deriu: Advisor to Synthetix
Morten Christensen: Trader and his 4 friends (each spent only $1,200)
Sheldon Xia: Founder of BitMart
"Ogle": Advisor to World Liberty Financial, pseudonym.
MemeCore representative: Representative from a Singapore startup, personally introduced as the second holder of $TRUMP
Vincent Liu: Chief Investment Officer of Kronos Research
Nikita Anufriev: Founder of the 'Headliners' podcast
Oh Sang-rok: Founder of a South Korean startup
Anonymous accounts include, 'Smooth Operator', 'Booblino', 'GiantBabyCorn'. Additionally, 25-year-old Nick Pinto, marketing director for his family law firm, told CNBC that he invested $500,000 to purchase Trump Meme coins to secure a dinner seat.
At the same time, the MemeCore representative may have attended the meeting in the following way, but only he himself posted photos, and the authenticity remains to be verified:
3. The top 25 holders enjoy "special treatment": exclusive reception and tour before the dinner.
According to the $TRUMP official website, the top 25 investors by holdings were invited to an exclusive reception before the dinner, which included a tour of the White House. This treatment was also seen as a reward mechanism for "loyal big holders." However, reports indicate that the VIP White House tour was scheduled for the following morning.
4. Trump spoke that evening, reiterating that the U.S. is the "global crypto capital."
Trump's speech seemed clichéd, stating that the U.S. is the "global crypto capital" and criticizing Biden for being "unfavorable to the crypto industry," with the overall speech lacking substantial new content. On May 23, Trump posted on his social platform, stating: "The U.S. is leading in the realms of cryptocurrencies and Bitcoin; we will maintain this position!"
5. Justin Sun appeared and spoke, calling $TRUMP a "wise decision."
Tron founder Justin Sun publicly stated that he is the largest holder of $TRUMP and attended the dinner. He previously invested $75 million in Trump's related crypto company, World Liberty Financial.
Justin Sun stated, "I am very grateful to the Trump administration for everything they have done for our industry. Just not long ago, crypto enthusiasts were constantly being oppressed, and we could not have such a grand event in Washington, bringing together all practitioners in the U.S. to build the crypto industry together. This is the most wonderful thing I can think of. If I can come to the U.S., then everyone can come."
After the dinner, Justin Sun refuted criticisms that TRUMP Meme coins were a tool for bribery in a media interview. Sun emphasized that President Trump’s support for cryptocurrencies was one of his wisest decisions, marking a positive turning point for crypto innovation in the U.S. Despite protests against the dinner, Sun firmly stated that those skeptics are "short-sighted" and believe that Trump embracing cryptocurrencies could lead to a new era of innovation in American digital assets. "All critics really should pay serious attention to this field," Sun stated, "This industry is undergoing positive changes."
"I completely believe that Meme coins have value," he added, "It's like doing business; some succeed, some go to zero — that's the entrepreneurial spirit."
6. Dinner menu revealed: Salad, Filet Mignon/Pan-Seared Flounder, Lava Cake
According to photos posted by several guests on social media, the dinner menu includes a choice of garden lettuce salad, filet mignon or pan-seared flounder, served with garlic mashed potatoes and mixed vegetables, with dessert being lava chocolate cake.
According to Bloomberg, the dinner venue was decorated in a style filled with Trump’s personal brand, featuring the slogan "Fight Fight Fight" on the tables, and the gift bags included black hats and commemorative plaques bearing the same slogan. This slogan has recently appeared frequently at Trump's campaign rallies and on social media. There was also a signature board featuring the names of the top 220 holders present.
7. Over 100 protesters gathered outside, calling the dinner a "symbol of corruption."
Although the dinner was held in a heavily guarded golf club, it did not prevent a crowd of protesters from gathering. Outside the event, a group of demonstrators gathered, denouncing the event as a "symbol of corruption." Some organizers accused the $TRUMP token of essentially being a "disguised bribe" in exchange for political access.
At the same time, Democrats strongly criticized Trump’s cryptocurrency and condemned the dinner, with Connecticut Democratic Senator Richard Blumenthal likening the event to "hanging a 'for sale' sign on the White House," calling it an "auction for presidential access." Blumenthal suggested the possibility of suing the president for potentially accepting foreign gifts or payments through this event. Some Republicans also expressed concerns, including Wyoming Republican Senator Cynthia Lummis, who stated earlier this month that the dinner made her "uncomfortable," adding that while meme coins are legal, "what we need is a regulatory framework to clarify everything and avoid this 'Wild West' situation (a chaotic environment with a lack of rules, laws, or regulations)."