It was pitched as the ultimate Crypto Flex. Well, that’s exactly what 220 code whales get. On May 22nd, he was in a private gala with former President Donald Trump at a golf club near Washington, DC. All they had to do was hold his meme well enough. coin, length sufficient, Create a leaderboard. But critics say Trump Crypto Dinner may blur the line between political funding and promoting digital assets.
top $Trambling The whale sits on a $174 million token 
All set up a background check before dinner on May 22nd + VIP tour with Big Man himself. pic.twitter.com/lxx9icosmu
– jesse.lsd (@jessewoodlsd) May 13, 2025
But some are blessings, others are asking very uncomfortable questions.
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How the contest works
The setup was simple, but costly. The top 220 wallets holding cards were weighted by time and amount, securing an invitation to eat with cards. The top 25 will earn additional perks, including VIP receptions and behind the scenes access.
It’s in the top 25 of the Trump Meme Contest. This was a VIP reception and gala dinner at Trump National Golf Club DC on May 22nd, and a private VIP tour the next day!
We are proud to support President Trump’s pro-crypto vision. Web3 requires bold and decisive leadership… pic.twitter.com/u1h6ur2i1i
– Sheldon (@sheldonbitmart) May 13, 2025
According to on-chain data, these wallets poured a total of $148 million worth of playing cards coins during the contest. For some, it was a golden ticket. For others, a High stakes gambling was completely unrewarded.
Winners and losers
$Trump coins rose in value after the dinner was announced. 1 point, It peaked at nearly $75 before returning to around $14. This kind of volatility is a course with meme coins, but this time it’s a big deal.
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Since Coin’s January launch, around 593,000 wallets have lost their money. In total, the losses of around $3.9 billion have been totaled, indicating how the distribution is skewed.
One trader wins dinner. Thousands are walking in the red. It’s a code for you.
Trump Crypto Dinner: Ethical Discussion
Critics don’t just point out price fluctuations. They point to the whole concept: political figures who provide private access in exchange for crypto-holding.
Sen. Richard Blumenthal has already launched an ethical investigation, asking if Trump’s contest crosses the line between campaign gimmicks and access payment schemes. After all, getting into the same room as a US president or presidential candidate is usually something that goes through much more filters than a wallet tracker.
Foreign wallet in spotlight
Next, there is the question of who is actually present. Top $ Trump holders are not based in the US. This is a wallet tied to HTX, a Seychelles-based exchange linked to Chinese crypto entrepreneur Justin San.
It raises more brows, particularly with concerns about foreign influence and national security. Some of the major wallets reportedly use platforms that are blocked in the US. In other words, these participants may not even be domestic citizens.
For political dinners tied to someone who might be in the White House again next year, that’s a serious red flag for some lawmakers.
Foods to remember
What began as a flashy meme coin promotion has turned into lightning for controversy. Trump’s crypto dinner may be serving steak and shrimp, but it also offers serious questions about money, access and impact.
As Crypto delves deeper into politics, the line between hype and ethics becomes less likely to be drawn, and this event may still be a clear example.
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Key takeout
Trump’s crypto dinner was accessible after participants had to hold a large number of Trump tokens and 220 wallets collectively spent $148 million.
After the contest was announced, the value of the coin surges, approaching $75 before approaching $75
14, Leave an estimated 593,000 wallets in red.
Critics have raised ethical concerns and accused Trump of selling political access through the Coinbase leaderboard system of memes.
Senator Richard Blumental has launched an ethical investigation to determine whether dinner violates campaign finance or access norms.
Top $ Trump holders are reportedly linked to Justin San’s HTX exchange and are raising a flag on foreign engagement and national security risks.
After the post $148 million, Trump’s crypto dinner first frowned at 99 Bitcoin.
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