Trump under fire: Crypto dinner causes legal trouble!

Trump under fire: Crypto dinner causes legal trouble!

Donald Trump recently hosted a controversial crypto dinner at the Trump National Golf Club in Washington D.C., which caused considerable public outrage. Only the top 220 investors in the $TRUMP memecoin were invited, and access required purchasing large amounts of this cryptocurrency. Meanwhile, on May 22, 2025, hundreds of demonstrators protested the event outside the golf club, raising concerns about possible corruption and market manipulation that Trump has been accused of.

A video from the largest holder of the TRUMP memecoin, Justin Sun, received particular attention. In this video, Trump can be seen using the official presidential seal during the dinner. According to White House press secretary Karoline Leavitt, it was a private event that Trump attended on his own time. However, the use of the presidential seal at private events is prohibited by Section 713 of the 18th U.S. Code prohibited, which could potentially result in fines or a prison sentence of up to six months. It remains unclear whether Trump will be legally prosecuted for this possible misconduct.

Financial ambitions and future dinners

Trump plans to raise millions of dollars through other cryptocurrency-focused dinners in the coming months. One of his planned events, known as the “Crypto & AI Innovators Dinner,” will cost $1.5 million per person and will be hosted by MAGA Inc., a super PAC that supports Trump. This special evening will take place on Monday evening and special guest David Sacks will also be in attendance.

Trump cannot run for a third term, raising questions about where the funds raised will go. Another dinner for the top 220 investors in his $TRUMP memecoin took place on Thursday, May 22nd. Interestingly, the Trump Organization, along with its subsidiaries, controls approximately 80 percent of the memecoin's total supply.

Memecoin concerns and legal issues

Both events are part of Trump's push to get more people invested in cryptocurrencies and make the US the "crypto capital of the world." However, Trump's personal ventures with his memecoin and his company World Liberty Financial raise concerns about possible conflicts of interest. The non-profit organization State Democracy Defenders Action said Trump could potentially benefit from the policies he is pursuing.

The organization Accountable.US also expressed criticism, describing the dinner for investors as an “obviously corrupt self-enrichment program”. Trump's memecoin peaked at around $70 after launching in January and has risen around 60 percent since the exclusive dinner was announced. Estimates suggest Trump may have made several million dollars from the cryptocurrency, with a Reuters report in February estimating $100 million in trading fees.

These developments shed light on the complex relationship between politics, personal transactions, and the emerging world of cryptocurrencies. Pressure on Trump and his businesses is expected to increase as the legal and ethical questions surrounding his activities continue to be in the spotlight.

For more information on this topic, read reports from BTC ECHO and Independent.