Trump Hosts Controversial Dinner with Top Cryptocurrency Investors
On Thursday evening, former U.S. President Donald Trump held a closed dinner at his golf club near Washington, gathering prominent investors in his cryptocurrency, which has drawn criticism from Democratic lawmakers and activists who labeled it a "brazen form of corruption."
The dinner was attended by 220 of the largest holders of the $TRUMP token. The event featured a special session for the top 25 investors, according to the event’s website, amid concerns over a potential overlap between his presidential authority and business interests.
Trump launched the $TRUMP currency just three days ahead of his inauguration, increasing his wealth by billions and raising ethical questions. The White House responded, stating that Trump attended in a “personal capacity.”
Outside, protesters held signs reading "Stop Cryptocurrency Corruption," while Senator Elizabeth Warren described the event as a "corruption party," accusing Trump of leveraging his position for profit.
Among the attendees was Justin Sun, a Chinese entrepreneur and founder of the Tron cryptocurrency, who promised to invest $93 million in Trump-related projects, including $20 million in the $TRUMP currency. Sun is currently under investigation in the U.S. for market manipulation, but regulators controlled by Trump allies suspended proceedings for 60 days in February to negotiate a settlement.
Sun shared a video from inside the “VIP lounge,” stating he was waiting for Trump.
Justin Onga, from the organization "Stop Political Money Corruption," argued that the dinner exemplified Trump profiting from the presidency while destabilizing the U.S. economy, stating, “This isn’t just a backdoor to corruption; it’s a main entrance laid with a red carpet.”
The dinner coincided with the U.S. Senate advancing a new bill dubbed “GENIUS” to regulate cryptocurrencies, a move long sought by the industry.
Meanwhile, Trump and his sons, Donald Jr. and Eric, have expanded their investments in digital currencies through a new company named "World Liberty Financial," partnering with investors from the Middle East.
Trump has taken concrete steps to reduce regulatory hurdles, including an executive order to create a "Strategic Bitcoin Reserve" for government assets in the leading digital currency.
Bitcoin saw an unprecedented surge on Thursday, exceeding $111,000 before slightly retreating.
