Crypto Whales Splash Millions on TRUMP Tokens for Presidential Dinner Seats

TLDR

Table of Contents

VIP attendees for Trump’s dinner held an average of $4.8 million in TRUMP tokens
Top 25 holders secured exclusive reception and special tour access, with 195 additional token holders gaining limited access
The largest holder “Sun” (possibly Justin Sun) held $19 million in tokens
The TRUMP token price fell 8% after the competition ended
The dinner has faced criticism with watchdog groups calling it a “corrupt self-enrichment scheme”

President Donald Trump’s upcoming dinner with holders of his Solana-based TRUMP meme coin has attracted wealthy crypto investors, with VIP attendees holding an average of $4.8 million in tokens to secure their spots at the exclusive event.

The meme coin team calculated placements using a time-weighted average of TRUMP holdings between April 23 and May 12. This system ranked registered users and granted the top 25 finishers “VIP” status with enhanced benefits, while an additional 195 token holders received more limited access.

The First $TRUMP Competition is officially over! Details and what's next for $TRUMP Below:
If you were in the top 220 on the leaderboard, check the email you signed up with for details on the Dinner with President Trump as soon as possible. There will be background checks that…
— TrumpMeme (@GetTrumpMemes) May 12, 2025

VIP ticket holders will enjoy an exclusive reception with President Trump and a special tour before the dinner at Trump National Golf Club in Washington D.C. The token balances among these top 25 holders varied widely.

The competition’s largest holder, registered as “Sun,” held approximately 1.4 million TRUMP tokens valued at over $19 million when the final snapshot was taken. Many speculate this account belongs to billionaire Tron founder Justin Sun, who previously purchased $30 million of Trump-linked World Liberty Financial’s governance token.

When asked by the New York Times, a spokeswoman for Sun declined to comment. The “Sun” wallet was connected to crypto exchange HTX, where Sun serves on the global advisory board.

Token Dynamics and New Rewards

Some participants employed strategic timing with their holdings. The last VIP qualifier, “Noah,” held zero TRUMP tokens by the competition’s end.

Due to the time-weighted calculation, holders were not required to maintain their tokens until the snapshot. This allowed Noah and another user called “Top” to qualify despite selling their tokens in the final days.

The price of TRUMP initially spiked when the dinner was announced in April. With the competition now concluded, the token price has fallen approximately 8%.

To encourage token retention, the Get Trump Memes account unveiled new incentives. These include a Solana NFT reward for users who maintain their leaderboard balances until the May 22 dinner.

The team also announced a new Trump “rewards points” program with its own leaderboard and badges. “The beginning of the Trump rewards points program for TRUMP starts now,” the account posted, adding that the “next era” for the token will be announced at the dinner.

Scrutiny and Requirements

In total, the top 220 wallets held more than 13.7 million tokens worth roughly $174 million as of May 12. It remains unclear how many of these holders will complete the required background checks to attend.

The President’s official Solana meme coin and his family’s broader crypto ventures have faced growing scrutiny. Lawmakers have pointed to potential conflicts of interest, with watchdog group Accountable.US calling the TRUMP token leaderboard “the most nakedly corrupt self-enrichment scheme in U.S. presidential history.”

A Bloomberg report suggested that most token holders are based outside the United States, raising additional security concerns. Many U.S. lawmakers have criticized the president for launching the meme coin just days before taking office.

According to the terms and conditions, each invited guest must complete a background check. The president’s attendance is not guaranteed, and if he is unable to attend or the gala is canceled, attendees will receive a limited-edition Trump NFT instead.

This isn’t Trump’s first crypto-focused event. During his 2024 campaign, he hosted a dinner for supporters who purchased his “mugshot” non-fungible tokens, which featured a picture of the then-presidential candidate.

For the upcoming May 22 dinner, the dress code is listed as “Black Tie preferred, but optional.” The event will include both the dinner and a “VIP tour” for qualifying token holders.

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