Author: Techub Selected Translation
By David Yaffe-Bellany and Eric Lipton, The New York Times
Compiled by Yangz, Techub News
Hundreds of people flocked to an "exclusive" dinner hosted by Donald Trump, hoping to strike it rich in cryptocurrency. Instead, they were greeted with chants of "Shame!" as they arrived at the Trump National Golf Club.
Protesters shouted "Shame! Shame! Shame!" as guests arrived for the dinner.
On Thursday evening, former President Trump hosted a dinner at his Virginia golf club for top investors in his personal memecoin, TRUMP, pledging further support for the cryptocurrency industry. Outside, protesters held signs reading "Stop Crypto Corruption," denouncing the event as a blatant misuse of the presidency.
The scene at the Trump National Golf Club in suburban Washington was surreal. Hundreds of attendees traveled specifically for the event, many flying in from overseas. Trump himself arrived via military helicopter directly from the White House. As guests entered, dozens of protesters gathered at the club entrance, chanting "Shame!"—a stark contrast to the celebratory atmosphere inside.
This moment perfectly captures the political ecosystem of the Trump era. Multiple attendees interviewed by The New York Times openly admitted their main goal was to influence Trump—and U.S. financial regulatory policy.
According to videos shared by attendees, Trump delivered a blunt speech during the dinner: "The previous administration made life miserable for you"—a veiled reference to crackdowns on crypto firms. When he added, "They harassed everyone, and frankly, it's shameful," the crowd erupted in cheers and applause. Trump pledged to reverse the prior administration's hardline stance, declaring, "Cryptocurrency matters—it's our honor to help those here tonight."
The dinner, organized by Trump and his business partners, aimed to promote his personal memecoin, TRUMP. Launched just days before Trump's inauguration, the token started as a purposeless speculative asset but has since become a direct channel for investors—including many foreigners—to funnel money to the Trump family.
Event organizers billed it as the world's "Most Exclusive Invitation," publishing an online leaderboard that explicitly tied the purchase amounts of TRUMP tokens to the 220 available dinner seats.
Early in Trump's second term, his family and partners have already secured over a dozen lucrative deals—including real estate projects with foreign governments from Qatar to Serbia, a $2 billion cryptocurrency bank backed by the UAE government, and a Miami golf tournament sponsored by Saudi capital. Estimates suggest Trump's personal wealth has increased on paper by several billion dollars since the start of his new term, with crypto assets playing a significant role.
Yet among these profit-driven ventures, the TRUMP dinner stands out as the most brazen monetization effort. Unlike any event in modern American history, this gathering was not a campaign fundraiser—it was arranged by the president's business partners specifically to benefit the Trump family directly.
As guests streamed into the venue, protesters held up signs reading "End Crypto Corruption," "Release Guest List," and "Reject Monarchism."
The White House dismissed claims that it was inappropriate for Trump to host the dinner.
“This is the Crypto Corruption Club!” Oregon Democratic Senator Jeff Merkley shouted outside Trump’s golf course, his voice hoarse from the intense protests. “This is corruption at its peak,” he added.
The White House, however, took the opposite view. Press Secretary Karoline Leavitt firmly rejected the criticism during a briefing before Trump left for the club. “Any suggestion that the President is using his office for personal gain is completely baseless,” she emphasized. “He was already extraordinarily successful in business before entering public service.”
At 5 p.m., guests in tuxedos began gathering at the registration desk. They collected wristbands and raffle tickets before entering the venue in the rain, with some even presenting foreign passports as ID.
The dinner menu featured filet mignon, pan-seared sole, and a “Trump Organic Garden Salad.” Trump spoke from a podium bearing the presidential seal, flanked by the American flag.
The most prominent crypto investor in attendance was billionaire Justin Sun. The Tron founder spent $40 million on TRUMP tokens to secure the top spot on the subscription leaderboard. Wearing a black bowtie, Sun arrived first, shielded by an assistant’s umbrella. In a brief interview with The New York Times at the club, he said this was his first time meeting President Trump. “I’m very much looking forward to discussing the future of the cryptocurrency industry with him,” Sun stated.
Another attendee was Sangrok Oh, an executive from a South Korean crypto firm, who wore a red baseball cap reading “Make Crypto Great Again” and planned to distribute them to all guests. Oh, who flew in from Seoul, told reporters at a Virginia hotel that the event was “essentially a fundraiser” for Trump—and that “he will always treat his supporters well.”
Also present was Vincent Liu, Chief Investment Officer of Kronos Research. The Taiwanese crypto firm, which profits globally through high-frequency trading, has so far avoided the U.S. market. But after receiving regulatory assurances from Trump, Liu hopes the TRUMP “ticket” will help gain the President’s attention. “I would absolutely share my views without hesitation,” Liu said. “I’m pleased to see everything going smoothly so far.”
Many attendees openly expressed their hope to influence U.S. crypto policy through the event.
Trump launched the TRUMP token just days before his inauguration, sparking an immediate trading frenzy. After an initial surge, the memecoin began to decline, costing investors billions.
The dinner was designed to drive further sales. Organizers framed it as a contest, with the top 220 buyers earning a dinner with Trump at his golf club, and the top 25 also gaining access to an intimate gathering with the President and a White House tour. (Note: Winners were selected based on the average number of tokens held over a three-week contest period—not final holdings.)
In video obtained by The New York Times, Trump told the top 25 TRUMP holders: “We’re going to be leaders in cryptocurrency—we’re going to be leaders in every field. This is extremely important to me.”
According to blockchain analytics firm Chainalysis, a business entity linked to the Trump family holds a large amount of TRUMP and collects a fee on every transaction. To date, the token has generated at least $320 million in fees, shared between the Trump family and their business partners.
Despite the companies they help operate directly profiting from the TRUMP memecoin contest, the President’s eldest and second sons, Donald Trump Jr. and Eric Trump, maintained a notably quiet presence throughout the event.
However, Donald Trump Jr. struck a different tone this week at a business forum in Qatar. He indicated the Trump family is now pursuing new business opportunities without the self-imposed restraints of the first term. "Even perfectly legal deals won't protect you from frivolous attacks," he stated bluntly. "So our position is clear this time: we'll play by the rules, but we won't permanently hamstring our business. If they're going to come after you anyway, you might as well lean into it."
Many attendees had a direct interest in U.S. crypto regulatory policy. For them, the dinner was a prime opportunity to gauge Trump's policy direction firsthand. After Biden-era regulations pushed many to avoid the U.S. market, these investors are looking for openings to re-enter.
Others had more immediate motives. This group consisted largely of lesser-known entrepreneurs, social media influencers, and ardent Trump supporters willing to pay a premium for proximity to the former president. Vincent Deriu, a 27-year-old New York consultant ranked #165 on the TRUMP leaderboard, was candid: "A photo, a handshake, an autograph—that would be priceless to me."
Beyond those already mentioned—including Justin Sun—a New York Times reporter noted other guests at check-in. These included SuKyung Na, COO of the Tokyo- and Seoul-based digital asset manager Hyperithm, and Yan Liberman, co-founder of Miami-based Delphi Digital, which provides market intelligence to crypto investors.
Former NBA star Lamar Odom, who is promoting his own Memecoin called ODOM, posted on social media about attending. He later appeared in photos from inside the club shared by other guests. "About to go through security for the official Trump dinner," Odom wrote. "Honestly… I'm super excited."
The guest list also featured Nicholas Pinto, a 25-year-old entrepreneur from Cranford, New Jersey. Pinto, who started his first business selling scooter wheels at 13 and has since moved into social media and crypto, drove himself to the event. "I'm hoping to be the youngest person at the dinner," he said. "More importantly, I want to understand President Trump's real plans for cryptocurrency and get policy insights straight from the source."
According to Pinto, the dinner concluded with a raffle for two Trump-branded watches. Attendees donned hats featuring Trump's portrait and the slogan "Fight, Fight, Fight" for a group photo.
Notably, the event was organized by "Fight, Fight, Fight" LLC—a company formed in January, its name taken from Trump's public remarks after the July assassination attempt. The company's website initially promised the top 25 TRUMP token holders a "Special VIP White House Tour," but later quietly replaced "White House" with the vaguer "VIP Tour."
Bill Zanker, the site operator and a long-time business associate of the Trump family, declined to comment when asked about such details. A senior Trump campaign official stated the White House had not arranged any special tours for crypto investors and had "no connection whatsoever" to the Memecoin event. The official added that organizers could independently arrange visits to the publicly accessible White House East Wing.
It's worth noting that while a Trump Organization spokesperson vigorously distanced the entity from the event, public records show the family received revenue shares through their controlled entity, CIC Digital. Furthermore, the golf club hosting the dinner is Trump-owned property.