Trump to Host Two Crypto Dinners This Month Amid Growing Ethics Concerns

In Brief:

Trump is hosting two crypto-themed dinners this month, including a high-ticket event for $1.5 million per plate and a gala for $TRUMP token holders on May 22.

The events have raised ethics concerns, with lawmakers accusing Trump of selling access to wealthy crypto backers.

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President Donald Trump is deepening his ties with the crypto community by hosting two crypto-themed dinners this month, further cementing his reputation as a prominent figure in the space. The first event, a high-profile "Crypto & AI Innovators Dinner," took place at the Trump National Golf Club in Virginia on May 1. With tickets priced at $1.5 million per plate, the dinner was hosted by MAGA Inc., Trump's super PAC, and included guest speaker David Sacks, often referred to as the “crypto czar.”

On May 22, Trump is also scheduled to host a gala dinner for holders of the $TRUMP meme coin at his private club. The event, offering a mix of networking and exclusivity, will bring together the top 220 token holders, with the highest 25 being granted access to a private reception and a White House tour. Entry to the black-tie optional dinner is determined by the amount of $TRUMP tokens in a person’s wallet, with the contest closing on May 12.

The dual events have raised concerns from lawmakers, with some accusing Trump of selling access to his presidency in exchange for significant investments in his business ventures. Sen. Elizabeth Warren and Rep. Adam Schiff co-signed a letter expressing concerns about the ethics of such events, especially with the growing popularity of the Trump-linked USD1 stablecoin.

The events have reignited debates on transparency in political crypto fundraising, particularly due to the anonymous nature of the $TRUMP token holders. Critics argue that this raises concerns about foreign influence and the potential manipulation of the system.

Despite the controversy, interest in the $TRUMP token has surged, with a 50% increase in its value since the announcement of the dinner event. If the May 22 dinner is canceled, winners will receive a Trump-branded NFT instead.

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