Trump's Memecoin Dinner Sparks Corruption Claims as Senate Fails to Advance Clarity Bill
US President Donald Trump will attend his third 'exclusive' event for holders of his Official Trump (TRUMP) memecoin, despite controversy surrounding the project's ethics and profitability. The November 22 dinner at Trump's National Golf Club in Washington, DC will be held for the top 185 TRUMP holders, who scored between September 30 and November 12.
This event marks the third time Trump has gathered his memecoin fans for similar events, including a May 2025 dinner and an April 2026 luncheon. Critics have accused the president of selling access to the presidency through 'pay-to-play' schemes, with some comparing it to corruption.
Public Citizen estimated that investors in the Trump family's crypto ventures were $4.7 billion underwater since 2022, with $3.2 billion in losses attributed to the memecoin. The token has seen its price surge about 9% to $2.23 from $2.05 after the announcement of the upcoming dinner.
Some lawmakers have expressed concerns over Trump's profiting from the crypto industry, with Senator Chris Coons calling the memecoin event 'corruption' on social media. The Senate failed to advance the Digital Asset Market Clarity (CLARITY) Act, a bill expected to establish clear guidelines for financial agencies on the oversight and enforcement of cryptocurrencies.