Background Information: Holders of the memecoin associated with U.S. President Donald Trump held an exclusive dinner at a golf course in Virginia, where 220 top holders collectively spent 148 million USD to attend the event. The dinner was seen as a potential opportunity to discuss cryptocurrency policies with the President but also sparked concerns about corruption and foreign influence.

Key Events:
- Justin Sun, founder of Tron, was specially awarded as the largest holder, although he has previously been sued by the U.S. Securities and Exchange Commission for alleged cryptocurrency securities violations.
- Kain Warwick, founder of iFinex, secured a spot in the top 25 by holding enough TRUMP tokens, hoping to discuss decentralized finance (DeFi) related policies with the Trump team.
- Vincent Liu, investment director at Kronos Research, emphasized that holding TRUMP tokens grants opportunities to meet the President.
- Former NBA champion Lamar Odom used the dinner to promote his newly issued addiction-themed memecoin ODOM.
- Sangrok Oh, CEO of South Korean crypto management company Hyperithm, holds over 3 million USD worth of TRUMP tokens, brought a “Make Crypto Great Again” hat, and looked forward to communicating with the President.
- Several other anonymous or pseudonymous cryptocurrency traders and entrepreneurs also attended.

Protests and Controversies: Outside the dinner, U.S. senators and former government officials protested, criticizing the event as a symbol of corruption. Senator Jeff Merkley stressed that the government should not sell influence. Congress is pushing anti-corruption legislation targeting cryptocurrencies and political figures.

Impact and Significance: The dinner took place during a critical period when the U.S. crypto industry is striving for favorable regulation. Trump's involvement may complicate the regulatory environment. Related anti-corruption laws and amendments targeting Trump's crypto activities are being proposed in Congress.

TRUMP

MAGA

<img src="https://static.sosovalue.com/sosovalue/2025/05/24/6e4cd7cf-2a52-41bc-8233-4f9b1a2d4060.jpg"><img src="https://static.sosovalue.com/sosovalue/2025/05/24/02718684-31b3-413a-bd73-e243715c2203.jpg">The top 220 holders of US President Donald Trump’s memecoin met yesterday at the president’s golf course in Virginia for an exclusive dinner and purported meet-and-greet.Attendees <a href="https://news.sky.com/story/investors-descend-on-trumps-golf-club-for-148m-meme-coin-dinner-amid-protests-13373098" title="null">spent</a> a grand total of $148 million for an “ultra-exclusive VIP reception with the president,” which crypto industry advocates and critics alike saw as a potential opportunity to discuss crypto policy with the president.&nbsp;The crowd contained a number of foreign crypto executives and influencers who otherwise would not have access to the US president, raising questions around corruption and foreign influence.&nbsp;Concerns were further augmented when White House Press Secretary Karoline Leavitt declined to release a list of attendees, stating that the event was a private affair outside of Trump’s presidential duties.However, some attendees spoke to the press or took to social media to talk about the dinner. Here are just a few:<h2>Justin Sun</h2>Tron founder Justin Sun was the largest TRUMP tokenholder at the gala, which was reportedly enough to earn him a special watch, presented in a special ceremony.&nbsp; <img src="https://static.sosovalue.com/sosovalue/2025/05/24/99119cfd-6da7-440b-ae1e-c5b488dc0f24.png">Sun was awarded a watch in a ceremony at the event. Source: <a href="https://x.com/justinsuntron" title="https://x.com/justinsuntron">Justin Sun</a>Sun’s presence at the event was particularly controversial. Last year, he faced a <a href="https://cointelegraph.com/news/sec-files-lawsuit-against-tron-s-justin-sun-and-celebrities-over-crypto-securities-offering" title="https://cointelegraph.com/news/sec-files-lawsuit-against-tron-s-justin-sun-and-celebrities-over-crypto-securities-offering">lawsuit</a> brought by the US Securities and Exchange Commission over the alleged “orchestration of the unregistered offer and sale, manipulative trading, and unlawful touting of crypto asset securities.”The SEC asked for a reprieve in late February, just over a month since Trump’s inauguration and the subsequent 180 in federal agencies’ approach toward regulating crypto.&nbsp;Outside the crypto dinner, Sun <a href="https://x.com/justinsuntron/status/1925261779233313064" title="null">posted</a> on May 21 that he would be spending a week in Washington, DC to have “meaningful conversations that will help shape the next chapter of blockchain’s future” in the United States.<h2>Kain Warwick</h2>Kain Warwick, founder of crypto exchange operator iFinex, <a href="https://www.nytimes.com/2025/05/12/us/politics/trump-crypto-coin-auction.html" title="null">told</a> The New York Times on May 12 that he was attending the event after stocking up on enough TRUMP to break the top 25 investors on the leaderboard.&nbsp;Warwick said he wanted to have a shot at meeting the president, or someone on his team, to talk crypto — specifically decentralized finance (DeFi), which is getting less attention in the current crop of crypto bills circulating the US Congress.“If you assume Trump and 10 people within the Trump team are there, now you’ve got a one in 15 shot of having a conversation with one of them,” he said.<h2>Vincent Liu</h2>Vincent Liu, chief investment officer of crypto trading, VC and market-making firm Kronos Research, attended the event, posting pictures of the menu and Trump’s brief speech.<img src="https://static.sosovalue.com/sosovalue/2025/05/24/1301578f-a2f7-47f4-84e8-e3a1403d498c.jpg">A photo of the menu at Donald Trump’s memecoin dinner. Source: <a href="https://x.com/a_year_from_now/status/1925813766211453178/photo/1" title="https://x.com/a_year_from_now/status/1925813766211453178/photo/1">Vincent Liu</a>Liu wrote, “Simply by holding the Trump token, individuals have an unprecedented opportunity to meet the President of the United States.”&nbsp;He had previously <a href="https://cointelegraph.com/news/donald-trump-memecoin-dinner-breakdown" title="https://cointelegraph.com/news/donald-trump-memecoin-dinner-breakdown">told Cointelegraph</a>, “The decision to acquire the [TRUMP] token was not political. It was based on identifying early momentum, cultural relevance and potential market catalysts.”Related: <a href="https://cointelegraph.com/news/donald-trump-crypto-corruption-bill-memecoin-dinner" title="null">US lawmaker introduces anti-corruption bill ahead of Trump's dinner</a>His firm <a href="https://x.com/KronosResearch/status/1924745758059991531" title="null">stated</a> that “alpha” — i.e., exclusive or difficult-to-obtain information that could move markets — was “on the menu.”&nbsp;Lamar OdomAlso in attendance was two-time National Basketball Association champion Lamar Odom. While many other crypto entrepreneurs in the audience were focused on policy, Odom used news of his attendance to plug his own memecoin, ODOM.<img src="https://static.sosovalue.com/sosovalue/2025/05/24/1d4dec7c-5904-4072-a8cc-7ba81122a8b6.png">Lamar Odom writing an X post while attending Trump’s memecoin dinner. Source: <a href="https://x.com/LamarOdom/status/1925680234050793889" title="https://x.com/LamarOdom/status/1925680234050793889">Lamar Odom</a>Odom launched his memecoin less than a week before the dinner on May 14. The anti-addiction-themed memecoin (Odom had a public battle with substance addiction) is issued on the Solana blockchain.The coin itself had a 20% “Trump Dinner Program” staking scheme, where TRUMP holders could stake their coins with Odom’s project, ostensibly to enable him to attend the dinner event, and receive ODOM airdrops in return. Odom himself will hold 5% of all ODOM.<h2>Sangrok Oh</h2>CEO of Seoul- and Tokyo-based cryptocurrency management firm Hyperithm, Sangrok Oh <a href="https://www.straitstimes.com/asia/east-asia/korean-crypto-ceo-to-join-trumps-inner-circle-of-meme-coin-millionaires" title="null">was</a> the 13th-largest TRUMP holder with a wallet containing over $3 million worth of the token, according to the Straits Times.&nbsp;Oh told The New York Times that he had <a href="https://www.nytimes.com/2025/05/22/us/politics/trump-memecoin-dinner.html" title="null">arrived</a> with a batch of red “Make Crypto Great Again” hats to give away at the dinner and expected to speak directly with the president. “It’s kind of a fund-raiser [...] And he’ll always be good to his sponsors.”Oh has been critical of the slow regulatory progress for crypto in the countries where his company operates.&nbsp;<h2>Anonymous attendees</h2>In addition to crypto execs and sports stars, the event also noted a few anonymous or pseudonymous crypto traders and entrepreneurs in attendance.&nbsp;Among them <a href="https://www.reuters.com/world/us/trump-draws-global-crypto-investors-with-148-million-meme-coin-dinner-2025-05-22/" title="null">was</a> “Ice,” co-founder of the Singaporean crypto company MemeCore. Their company’s chief business development officer, Cherry Hsu, <a href="https://sherwood.news/crypto/guess-whos-coming-to-dinner-with-usdtrump/" title="null">told</a> Sherwood News that Trump’s rise “represents the power of memes to influence culture, perception, and movements — principles that align with MemeCore’s vision of a decentralized, community-driven future.”“Ogle,” a cybersecurity adviser to Trump’s own World Liberty Financial crypto enterprise, as well as the pseudonymous co-founder of blockchain ecosystem Glue, also attended. Ogle said they were going out of curiosity, more than anything, and did not endorse Trump personally. “I’m hoping it’ll be fun — and hoping they’ll serve McDonald’s.”Another anonymous attendee was “Cryptoo Bear,” a crypto trader and occasional news reporter who posts primarily in Japanese. Cryptoo Bear made no political statements about the event, mainly posting about the swag and the food. They did say they were promised a photo op with the president, but it didn’t pan out.&nbsp; <img src="https://static.sosovalue.com/sosovalue/2025/05/24/7009913e-7d36-4999-8656-37eadb09b645.png">Source: <a href="https://x.com/cryptoo_bear/status/1925709348140953802" title="null">Cryptoo Bear</a><h2> Dinner “guests” across the picket line</h2>Outside the country club, US senators and former staffers attended the event as part of a protest.Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-05-22/protesters-yell-shame-at-guests-of-trump-s-memecoin-dinner" title="https://www.bloomberg.com/news/articles/2025-05-22/protesters-yell-shame-at-guests-of-trump-s-memecoin-dinner">reported</a> that protestors shouted “Shame!” and “I hope you choke on your dinner!” at attendees. Critics of the event widely consider it to be a glaring example of corruption in Washington and within the Trump administration.&nbsp;Senator Jeff Merkley, a Democrat from Oregon, joined the protest. “The spirit of the Constitution was that no one elected would be selling influence to anyone,” he <a href="https://www.nbcnews.com/tech/crypto/trumps-meme-coin-dinner-tuxedos-luxury-suvs-protesters-rcna208647" title="null">said</a>, “because it’s to be government by and for the people.”Ken Papaj, a former Treasury Department official, said, “Every time there’s a transaction, he gets a transaction fee? Just unconscionable what he’s doing.”The dinner comes at a pivotal time for the crypto industry in the US, where the industry is pushing hard for Congress to pass friendly regulations. Trump’s ties may complicate matters, however, as lawmakers have <a href="https://cointelegraph.com/news/donald-trump-crypto-corruption-bill-memecoin-dinner" title="https://cointelegraph.com/news/donald-trump-crypto-corruption-bill-memecoin-dinner">introduced anti-corruption bills targeting crypto and politicians</a>.Senate Democrats are also <a href="https://cointelegraph.com/news/senators-amendment-genius-act-world-liberty-financial-stablecoin" title="null">taking aim at the stablecoin-focused GENIUS Act</a>, introducing a slew of amendments addressing Trump’s crypto businesses.&nbsp;Magazine: <a href="https://cointelegraph.com/magazine/openais-doomsday-bunker-15-fakest-books-hollywoods-over-with-veo-3-ai-eye/" title="https://cointelegraph.com/magazine/openais-doomsday-bunker-15-fakest-books-hollywoods-over-with-veo-3-ai-eye/">AI cures blindness, ‘good’ propaganda bots, OpenAI doomsday bunker: AI Eye</a>

Trump Memecoin Dinner: 220 Top Holders Gather in Virginia, Sparking Regulatory and Corruption Controversies