Trump Earns $900K in 2 Days from $TRUMP Token as Dinner-for-Holders Promo Sparks Controversy

President Donald Trump and his allies have reportedly earned nearly $900,000 in trading fees over the past 48 hours from the controversial $TRUMP meme coin, according to blockchain analytics firm Chainalysis. The sharp rise in revenue follows a bold marketing move: a dinner invitation for the top 220 $TRUMP holders, scheduled for May 22 at Trump’s private Washington-area club.

The token’s official website proudly promotes the event with a headline: “Have Dinner in Washington, D.C. With President Trump.” A VIP White House tour is also planned for May 23, and the site features a public leaderboard showcasing usernames of top token holders. Following the announcement, $TRUMP’s value soared over 50%, pushing its market capitalization to $2.7 billion.

Controversy Over Pay-to-Play Allegations

Critics swiftly condemned the event, alleging it amounts to “pay to play” access. Senator Chris Murphy (D-Conn.) called it “the most brazenly corrupt thing a President has ever done.” Legal experts say the stunt likely falls into a gray area: while not illegal, it represents an ethical violation that no previous modern president has attempted.

Delaney Marsco, ethics director at the Campaign Legal Center, pointed out that presidents are not bound by federal conflict-of-interest laws. “This kind of financial self-interest is unprecedented. It allows Trump to essentially sell access,” Marsco said.

$TRUMP Token Mechanics and Whale Control

Launched in January 2025, the $TRUMP token is heavily controlled by Trump-affiliated entities, which reportedly manage over 80% of the token supply. Chainalysis estimates that insiders have already earned $324.5 million in trading fees since launch. These fees come from a built-in mechanism that diverts a portion of each transaction to wallets linked to the coin’s creators.

Despite being a meme coin with no intrinsic utility or service, $TRUMP has generated significant speculation. Most of the supply remains locked under a three-year vesting plan, ostensibly to prevent sudden sell-offs and maintain investor confidence.

Ethics and Foreign Ties Raise Red Flags

Democratic Senators Adam Schiff and Elizabeth Warren have called on the U.S. Office of Government Ethics to investigate whether the dinner contest violates ethical standards. Public data shows that some major $TRUMP holders may have ties to banned crypto platforms, including Binance, raising further national security questions.

Independent crypto researcher Molly White noted the difficulty in identifying real token holders due to anonymous usernames on the leaderboard. At least one top holder reportedly has an active Binance account, which prohibits U.S. users.

Trump’s Crypto Pivot and Financial Motives

After opposing cryptocurrency during his first term, Trump shifted course in 2024, casting himself as a pro-crypto candidate. His campaign has benefited from tens of millions in donations from the crypto industry—outpacing contributions from traditional sectors like energy and banking.

The $TRUMP token is just one of several digital ventures linked to the Trump family. Alongside $MELANIA and the World Liberty Financial DeFi project, these initiatives have raised over $550 million since late 2024. Notably, buyers in those projects are restricted from reselling and receive no share in profits, while Trump-affiliated entities collect up to 75% of net revenue.

Final Thoughts

The explosive rise of the Trump $TRUMP token represents a new frontier in political fundraising and meme coin culture. With trading fees pouring in and ethical questions mounting, Trump’s crypto empire continues to blur the lines between political influence and personal profit. Whether it marks a new standard—or a new scandal—remains to be seen.