Trump to Host Third Memecoin Event Amid $4.7B Loss Claims and Pay-to-Play Concerns

The Trump memecoin, Official Trump (TRUMP), is hosting its third closed-door event for top tokenholders. The dinner is scheduled for November 22 at the Washington, DC golf club, where US President Donald Trump will appear alongside three unnamed guests.

The top 185 TRUMP holders, determined by a scoring approach based on holder metrics from September 30 to November 12, will be eligible to attend the event.

This comes after Public Citizen estimated that investors in the Trump family's crypto ventures are collectively $4.7 billion underwater since 2022, with $3.2 billion of those losses tied to the memecoin.

Market data shows that TRUMP's price reacted to the dinner announcement, climbing by roughly 9% to $2.23 from $2.05. Critics argue that the events raise pay-to-play and ethics concerns, while US lawmakers recently debated crypto oversight legislation with ethics provisions in the spotlight.