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A high-dollar gathering at President Donald Trump’s Virginia golf club has ignited a storm of ethical debates, blending crypto spectacle with accusations of constitutional overreach.
The Thursday dinner, reserved for the top 220 holders of the head of state’s TRUMP meme coin, attracted billionaires, celebrities, and a cascade of legal threats, with critics calling it a gateway for foreign influence peddling.
The Price of Proximity
Entry to the event required holding TRUMP tokens, and reports indicate that attendees collectively spent as much as $394 million on the meme coin to sit at the president’s table.
The gathering included crypto elites such as Tron founder Justin Sun, who is also an investor in the Trump family’s World Liberty Financial project.
The businessman, who topped a publicly posted leaderboard with a $18.5 million stash, flaunted clips of himself at the event, even claiming he had received a Trump Golden Tourbillon watch from the president. This raised eyebrows, given that the SEC is investigating him over allegations of fraud, although the matter was paused abruptly in February.
While former NBA star Lamar Odom made no secret of his presence at the Trump National Golf Club, most attendees remained anonymous, using nicknames on the leaderboard. Protestors reportedly lined up at the venue’s entrance, waving signs that read “Crypto corruption” and “America is not for sale.”
Blockchain data shared by Bloomberg shows that more than half of the guests likely live outside the United States, with many buying their tokens from offshore crypto exchanges that claim to exclude American users.
This detail alone raised concerns that foreign actors could exploit crypto to circumvent U.S. campaign finance laws. In response, 35 members of Congress have signed a letter calling for an investigation by the Department of Justice, citing possible violations of the emoluments clause in the Constitution.
Meanwhile, Representative Maxine Waters has rolled out the “Stop TRUMP in Crypto Act,” which aims to bar officials from profiting from digital assets.
Massachusetts senator and renowned crypto critic Elizabeth Warren didn’t mince words either, calling the dinner an “orgy of corruption” at a Thursday press conference. Fellow lawmaker Richard Blumenthal claimed it put a “for sale” sign on the White House.
Both called for transparency on who attended the event and how access was monetized through the TRUMP token’s structure, with on-chain records indicating that the top 25 investors alone bought at least $111 million worth of the meme cryptocurrency.
Trump Unfazed
Despite claims from the White House that Trump attended in a personal capacity, reports indicate that the president delivered brief remarks behind a lectern bearing the seal of his office.
He is said to have made no new crypto policy announcements, instead reiterating support for a national Bitcoin (BTC) reserve, before promptly jumping on his helicopter and flying out of the venue.
The ensuing criticism doesn’t seem to have bothered the commander-in-chief, with the politician posting on his official Truth Social account, “The U.S.A. is DOMINATING in Crypto, Bitcoin, etc., and we are going to keep it that way!”
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