Trump Memecoin Project Sparks Ethics Concerns with Third Dinner for Top Holders
The Trump memecoin project is hosting its third in-person event for top token holders, sparking renewed scrutiny over ethics concerns. The upcoming dinner, scheduled for November 22 at Trump's DC golf club, will feature the president alongside three unnamed guests. Invitations are tied to rankings among the top 185 token holders between September 30 and November 12.
The Official Trump (TRUMP) token rose approximately 9% to $2.23 after the announcement on Wednesday. This is the third such gathering for TRUMP holders, following earlier events in May 2025 at Trump National Golf Club and April 2026 at Mar-a-Lago. Critics argue that these dinners amount to paid access to the presidency through crypto holdings.
Public Citizen estimates that investors in Trump family crypto ventures have lost $4.7 billion since 2022, with $3.2 billion tied specifically to the memecoin. The president reported $1.4 billion in crypto-related earnings, including from the TRUMP token, according to his 2025 disclosures.
The latest dinner announcement comes after the U.S. Senate failed to advance the Digital Asset Market Clarity (CLARITY) Act due to concerns over its ethics provisions. The Republican-led bill faces an uncertain path ahead of the next Congress session in 2027.