President Trump is set to attend a special dinner tonight at one of his golf clubs, hosted for the top 220 holders of a cryptocurrency named after him. This event marks Trump’s growing interest in the cryptocurrency world, but it also raises questions about potential conflicts of interest since he stands to profit from this venture.
The dinner will take place at Trump’s golf club near Washington, D.C., and is organized by Fight Fight Fight LLC, a group connected to The Trump Organization. The gathering is aimed at individuals who hold Trump’s meme coin, which was launched just before he took office in January. This coin operates more like a digital asset than a traditional investment, with its value determined by what buyers are willing to pay.
The identities of the attendees remain largely unknown, as many crypto wallet holders use pseudonyms. Some, like Justin Sun—a Chinese entrepreneur who has invested in Trump’s crypto projects—have revealed their identities. Reports suggest that many of these coin holders are based overseas and purchase the tokens through exchanges not accessible in the U.S.
Concerns about ethics and conflicts of interest have been raised. While Trump is not formally organizing the dinner, he is the sitting president, which complicates matters. Experts worry that the anonymous nature of the attendees could allow foreign nationals to indirectly contribute to U.S. politics, something that is usually prohibited. The White House insists that Trump’s assets are in a blind trust and that he is complying with conflict-of-interest laws.
Interestingly, Trump has shifted his stance on cryptocurrencies. He previously called them a scam but has since embraced the market, likely due to the growing number of Americans investing in crypto. A Pew survey indicates that nearly 20% of U.S. adults are now involved in cryptocurrency, a demographic that includes many younger voters who supported Trump during his campaign.
On the regulatory front, the crypto industry has been actively lobbying for legitimacy. However, Trump’s involvement and profits from his meme coin have complicated legislative efforts, such as the GENIUS Act, which aims to regulate certain cryptocurrencies. Critics argue that the bill lacks necessary conflict-of-interest provisions, highlighting the need for more oversight in light of Trump’s activities.
As the dinner unfolds, it will be interesting to see how this event influences public perception of both Trump and the cryptocurrency market.