Donald Trump and Crypto Tycoons' Exclusive Party

Dozens of protesters gathered at the gates of the golf club to protest the event. Photo: Elizabeth Frantz/New York Times .

On the evening of May 22 (local time), US President Donald Trump hosted a high-profile gala dinner at his golf club in Virginia, bringing together a group of the world's leading cryptocurrency investors. Many of the guests, including foreign investors, could influence upcoming US financial regulations on digital assets.

Attendees included some of the biggest spenders on “$TRUMP,” Trump’s personal cryptocurrency. The dinner, described by organizers as “the most exclusive invitation yet,” offered a unique opportunity for prominent figures in the crypto world to interact directly with the president.

Exclusive party

Mr Trump’s party did not go smoothly. Dozens of protesters gathered outside the golf club, chanting strong anti-Trump slogans. As guests entered, they were greeted with repeated chants of “shame on you.”

Protesters held signs with clear messages like “Stop Crypto Corruption.” Senator Jeff Merkley was even present, loudly calling it a “crypto corruption club,” showing the level of public and political opposition.

During the event, Mr. Trump addressed the audience, expressing strong support for the cryptocurrency industry. He acknowledged the challenges that cryptocurrency companies have faced due to the actions of previous administrations.

The president, however, received a standing ovation when he pledged to support a more open regulatory environment for digital assets.

Opponents say the event is “crypto corruption.” Photo: Elizabeth Frantz/New York Times.

“The previous administration made you miserable. Cryptocurrency has a lot of common sense and practicality. We are honored to help people here,” he declared.

The dinner was closely linked to the promotion and sale of $TRUMP, a memecoin launched just before Trump's inauguration, the Times reported.

While memecoins are typically useless beyond being bought and sold for profit, $TRUMP is a unique tool. It connects investors, many of them foreign, to the Trump family’s business interests.

The event itself was created to promote the sale of the coin, which was organized as a competition. The top 220 buyers would win a spot at the coveted dinner. The top 25 coin holders were even promised a more intimate meeting and a “VIP tour.”

One of the most prominent figures present was Justin Sun, the Chinese billionaire and founder of the cryptocurrency platform Tron. After spending more than $40 million on $TRUMP, Mr. Sun took the top spot on the event’s leaderboard.

He expressed excitement at meeting President Trump and discussing the “future of cryptocurrency.” Another notable guest was Sangrok Oh, a South Korean cryptocurrency company executive.

He flew in from Seoul and saw the event as a fundraiser, believing it would help Trump continue to support those who had “funded” him.

Also attending was Vincent Liu, the chief investment officer of Kronos Research, a Taiwanese crypto firm, who was looking to explore how his company could enter the U.S. market, having previously avoided investing there due to regulations under former President Joe Biden.

More than just memecoin

The financial implications of this event suggest that $TRUMP is generating significant profits. A company linked to the Trump family is holding a large amount of $TRUMP cryptocurrency and charging fees every time it is bought or sold.

According to cryptocurrency analytics firm Chainalysis , the coin has generated at least $320 million in fees, which have been split between the Trump family and their business partners. It’s clear that the sale of the memecoin has directly benefited his family financially.

The dinner also attracted a diverse audience, from little-known entrepreneurs and social media influencers to die-hard Trump fans, all willing to invest for the chance to meet the president and better understand his views on cryptocurrencies.

Many guests were outspoken about their desire to have the opportunity to influence U.S. cryptocurrency policy. Photo: Elizabeth Frantz/New York Times.

At the registration area, there were industry leaders such as Ms. SuKyung Na, COO of Hyperithm, and Mr. Yan Liberman, co-founder of Delphi Digital. This showed that the industry's big names were present.

The exclusive nature of the event, coupled with explicit discussions of cryptocurrency policy and direct financial connections, made it a pivotal moment for the digital asset community.

While the details of future regulation were not discussed, Trump’s strong pro-crypto stance made his intentions clear. According to the Times , the meeting was a meeting at the intersection of risk finance, international investment and political engagement in the growing world of cryptocurrencies.

Source: https://znews.vn/bua-tiec-doc-quyen-cua-donald-trump-va-cac-ong-trum-tien-ma-hoa-post1555143.html