Foreign Crypto Investors Spend $148 Million at Trump Golf Club Dinner Amid Corruption Concerns

On May 22, President Donald Trump hosted an exclusive gala dinner at his golf club, accessible only to holders of the $TRUMP memecoin, with the 220 largest investors reportedly spending a total of $148 million to attend. The event drew global crypto figures, including billionaire Justin Sun, the largest investor who held $18 million worth of tokens, and was marked by luxury and controversy, including protests accusing the event of crypto corruption. However, on-chain data reveals that most VIP holders either sold or transferred their $TRUMP tokens shortly after the event, significantly reducing their holdings and forfeiting eligibility for a limited edition NFT reward. Only a few top holders, including Sun, maintained significant balances, while the average holding among VIPs dropped from around $4.78 million to about $2.11 million. The dinner and its associated token raise concerns about foreign influence in U.S. politics, as well as the blending of political power with speculative crypto investments. Additionally, a political bill aims to ban Trump from crypto, underscoring the contentious intersection of his political and crypto activities.