$TRUMP Meme Coin Craze Heats Up as Buyers Shell Out $148 Million for Dinner Prize

Investors spent an estimated $148 million on President Donald Trump's $TRUMP meme coin in a bid to win a seat at an exclusive dinner with the former president on May 22, according to crypto research firm Inca Digital.

The contest, promoted as the "most EXCLUSIVE INVITATION in the world," rewarded the top 220 holders of the $TRUMP coin with a gala dinner at Trump National Golf Club outside Washington, DC, Reuters said.

The top 25 will also attend a VIP reception and private tour with Trump. Rankings were based on "time-weighted" coin holdings between April 23 and May 12.

In total, the top 220 wallets held around $147.6 million in $TRUMP tokens by the contest's end. One wallet, named "SUN," led the board with $18.5 million worth of the coin.

Blockchain analysts say the wallet belongs to HTX, a Seychelles-based crypto exchange linked to crypto entrepreneur Justin Sun. Sun declined to comment.

Another 25 top wallets came from companies based in Singapore and Hong Kong, raising concerns from lawmakers about foreign influence.

On Monday, the GetTrumpMemes.com site told top participants, "President Trump will see YOU on May 22 at the Gala Dinner in Washington DC."

But attendance is not guaranteed — all winners must pass background checks, and the event terms allow for cancellation.

$TRUMP Coin Drops to $14 After Wild Ride from $75 High

According to 99Bitcoins, the $TRUMP meme coin was launched just days before Trump's January inauguration. It skyrocketed to $75 before dropping to about $14.

Despite market ups and downs, the coin has attracted over 590,000 wallets. Nearly 600,000 wallets have lost a combined $3.9 billion, according to Inca.

One holder, Kali, a luxury vacation planner from Hawaii, said she put in $10,000 hoping to break even. "I just wanted to be part of something big," she said. "Now I'm just hoping I didn't waste it."

While large investors made up to $1.5 billion in profits — including at least $48 million since the dinner was announced — critics say the contest was a backdoor to buy access to Trump.

"This isn't just a flashy crypto promo," said Senator Richard Blumenthal, who is investigating possible ethics violations. "It's a serious concern about foreign money and presidential access."

Democratic lawmakers have introduced bills aimed at stopping presidents from profiting off crypto. Meanwhile, ethics groups say Trump's coin project may bypass campaign finance laws.

Despite criticism, Trump-linked businesses maintain that all assets are in a family trust, separate from campaign activity. The Trump coin team has also teased a new reward — a rare Trump Diamond Hand NFT for holders who kept their coins after the contest ended.

With the $TRUMP token now valued at over $2.7 billion, the dinner contest has become a symbol of how politics, crypto, and controversy are colliding in 2025.

Originally published on vcpost.com