Written by Turner Wright, Staff Writer. Reviewed by Sam Bourgi, Staff Editor.
Written by Turner Wright, Staff Writer.
Reviewed by Sam Bourgi, Staff Editor.
Top memecoin holders expected to attend Trump luncheon
Latest NewsPublishedApr 24, 2026
Top Memecoin Holders to Attend Exclusive Trump Luncheon
The US President has confirmed his attendance at a private event in Florida, where top holders of his memecoin, Official Trump, will gather. This event has drawn criticism for selling access to the presidency. Attendees will include prominent figures in the crypto and financial industries, such as Tether CEO Paolo Ardoino and Bitcoin advocate Anthony Pompliano.
Notably, Tron founder Justin Sun, a top holder of the memecoin, has not confirmed his attendance. Sun is currently suing the Trump family’s crypto business, World Liberty Financial, alleging that they froze his tokens without proper justification. This lawsuit has sparked controversy and raised questions about the relationship between Sun and the Trump family.
Criticism and Controversy
The event has been criticized by lawmakers and organizations, who argue that it gives the impression of selling access to the presidency. Additionally, there are concerns about potential conflicts of interest and the difficulty in tracking Trump’s profits from the memecoin. The value of the TRUMP token has fallen significantly since its launch, but Trump can still profit from transaction fees.
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Related: Trump offers memecoin holders another gala to boost token from lows
“The only thing more ridiculous than this lawsuit is spending $6 million on a banana duct-taped to a wall,” said World Liberty co-founder Eric Trump, referring to Sun’s November 2024 purchase of a piece of art called the Comedian, which the Tron founder then ate.
Sun attended a similar May 2025 dinner for TRUMP memecoin holders, along with Synthetix founder Kain Warwick, Kronos Research chief investment officer Vincent Liu and others. Crypto user Morten Christensen attended last year’s dinner for a $1,200 investment in the memecoin and reportedly won a seat for Saturday’s event for about $500.
“Trump is much less liked right now than he was after inauguration,” said Christensen, according to a Bloomberg report. Now with the whole year of tariffs, crypto is bleeding, his reputation within the crypto community is not as good.”
Second memecoin event raises eyebrows among lawmakers, interest groups
The Saturday luncheon has drawn criticism from many lawmakers, who said that Trump was “dang[ling] access” to the presidency, as well as organizations monitoring potential conflicts of interest.
“Crypto wallets associated with [TRUMP] have engaged in financial maneuvers that make it difficult or impossible to track how much Trump may be profiting from the burst in trading,” said the nonprofit Citizens for Responsibility and Ethics in Washington in a Friday BlueSky post. “But what we do know is that despite the value of Trump’s coin decreasing since its first release, he can still make an enormous profit just by collecting small fees on each trade. The more people buy and sell, the more money Trump can make.”
Since its launch just days before Trump was sworn into office in January 2025, the price of the TRUMP token has fallen more than 93% from its all-time high of about $45 to under $3 at the time of publication.
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- Tron
- Donald Trump
- Justin Sun
- Corruption
- Florida
- Memecoin
