Trump Hosts Exclusive Crypto Dinner for $TRUMP Token Whales Amid Ethics Probe

Former President Donald Trump has integrated cryptocurrency into his political fundraising by launching the $TRUMP memecoin and hosting exclusive fundraising dinners where access is granted based on holdings of the coin. The top 220 holders of $TRUMP tokens secured invitations to a private gala, with the top 25 VIPs receiving special receptions and tours at Trump National Golf Club, collectively holding millions of dollars worth of the token. This innovative fundraising approach has sparked criticism and ethics concerns, including questions about foreign influence, transparency, and the blurring of campaign and personal business interests, with watchdog groups labeling the scheme as self-enrichment. Notably, some of the largest investors, speculated to include figures like Tron founder Justin Sun, have invested tens of millions into the coin. Despite the coin's initial surge in value, many holders have experienced substantial financial losses, highlighting the risks of meme coin investments tied to political access. The controversy has prompted an ethics inquiry from Senator Richard Blumenthal, who questions whether the events represent a pay-for-access arrangement violating campaign finance norms.