President Donald Trump presided over a closed-door crypto investor dinner Thursday evening, drawing harsh criticism from Democratic lawmakers and ethics watchdogs, who condemned the event as a blatant conflict of interest and a display of corruption at the highest levels of government.
The private dinner was held at Trump National Golf Club outside Washington, D.C., and featured the 220 largest investors in Trump’s personal cryptocurrency venture, the $TRUMP memecoin. According to a promotional website, the top 25 investors were granted a private audience with the president and a tour of the White House.
This event marks an unprecedented fusion of presidential power and personal financial interest. Trump, who launched the $TRUMP memecoin just days before his inauguration in January 2025, has reportedly added billions to his personal fortune as a result.
Although the White House claimed the event occurred during Trump’s “personal time,” the presence of presidential symbols, including a lectern with the official seal, and the exclusivity of the dinner have raised major ethical concerns.
Ahead of the gathering, Trump posted on Truth Social, touting American dominance in digital currencies such as Bitcoin and promising to sustain that position. “The U.S.A. is DOMINATING in Crypto, Bitcoin, etc.,” he wrote. “We’re going to keep it that way.”
Media access was barred from the dinner, but photos shared by attendees showed a formal setting, with President Trump expected to deliver remarks. Among those pictured was crypto entrepreneur Justin Sun, who posted a video from the venue’s VIP lounge, stating he was awaiting the president’s arrival. Sun has publicly committed $20 million to the $TRUMP coin and has invested over $90 million in related Trump crypto ventures. He currently faces U.S. investigations over market manipulation, though those proceedings were paused in February by regulators now under Trump’s administration.
Critics, including protestors outside the golf course holding signs like “No Kings” and “Stop Crypto Corruption,” accused Trump of exploiting his office for financial gain. Rain didn’t stop the crowd, nor did it muffle the pointed words of Democratic senators at a press conference earlier in the day.
Senator Elizabeth Warren denounced the event as “an orgy of corruption,” accusing Trump of using the presidency to enrich himself. Data from Inca Digital showed many of the memecoin transactions came through foreign exchanges not available to U.S. citizens, indicating strong international—possibly foreign-influence—investor participation.
A list of top $TRUMP coin holders published online included only anonymous usernames and wallet addresses. The number one investor was “Sun,” presumed to be Justin Sun.
Criticism extended beyond lawmakers. Justin Unga, spokesperson for End Citizens United, said the event was a brazen example of political profiteering: “Some say this is a back door to corruption,” he said. “I’d say it’s the front door—with valet parking, a red carpet, and a slap in the face to working Americans.”
As this controversy unfolds, Trump’s involvement in the cryptocurrency space is expanding rapidly. His sons, Donald Jr. and Eric Trump, now lead multiple ventures under the Trump family’s new firm, World Liberty Financial, which has secured partnerships in the Middle East and invested heavily in Binance, a crypto exchange whose founder is seeking a presidential pardon.
Meanwhile, in Washington, the Senate is advancing the GENIUS Act, landmark legislation to provide clear regulations around stablecoins. This comes as Bitcoin surged to an all-time high of over $111,000 Thursday before slightly retreating.
Trump has also signed an executive order to create a “Strategic Bitcoin Reserve,” formalizing federal holdings in Bitcoin as part of what the White House describes as a “forward-thinking economic policy.”
While supporters hail Trump’s crypto crusade as innovation-driven leadership, critics say the lines between presidency and profit have never been blurrier.
