Trump’s polarizing dinner featuring memecoin sparked varied reactions among guests.
On May 22, Donald Trump’s private dinner for the top 220 holders of his memecoin took place, sparking controversies since its announcement. Marketed as “the most exclusive invitation globally,” the event drew a mix of responses from those who attended.
While some guests voiced dissatisfaction with the food and limited interaction with Trump, many appreciated the chance to network with prominent figures in the cryptocurrency sector.
The notable guests
Among the attendees, Justin Sun, the founder of Tron and a prominent crypto billionaire, was the leading holder of the TRUMP memecoin. His presence was particularly contentious.
Sun was joined by several other notable crypto entrepreneurs from across the globe who attended the dinner. Reports indicated that the guest list included prominent figures in the cryptocurrency community.
The grievances
The gala did not meet the high expectations of several attendees, marked by protesters outside who chanted “shame.” Complaints arose regarding the food’s quality and a lack of beverage options.
A 25-year-old attendee, whose father brought him to the venue in a Lamborghini, expressed his discontent to media sources:
“The food was disappointing… I was only offered water and Trump’s wine. I don’t drink, so I stuck with water. My glass was filled only once.”
He later commented that he had hoped for a more satisfying meal, recalling his expectation of popular fast food items like burgers or pizza.
The same attendee was also frustrated by Trump’s brief appearance and minimal interaction. He remarked:
“I felt let down that President Trump didn’t spend more time with us. There was no real engagement.”
Trump arrived via helicopter at around 7 PM, greeted the top 25 holders in a private area, while the remaining attendees explored gift bags in the main ballroom.
After delivering a speech that reiterated familiar themes, he departed roughly 23 minutes after his arrival. The unhappy attendee commented:
“Honestly, I wasn’t impressed with the speech. I would have preferred if he had spent more time dining with us.”
For another attendee from Shanghai, who was among the top 25, the experience was similarly uninspiring. He mentioned having no opportunity to converse with Trump during the event or during a subsequent White House tour.
There were also observations about the security setup at the upscale gala, as guests noted a lack of measures like RFID-sealed bags for phones. One attendee remarked:
“Once Trump left, there was little concern for security.”
The guests showcased significant wealth, with some wearing Richard Mille watches valued at up to $1.3 million. However, the mood dampened as many had already sold off their holdings in the Official Trump (TRUMP) coin. An attendee stated:
“Many are no longer invested in the coin. They were checking their phones throughout dinner for price updates.”
Reports indicated that soon after securing their places, about half the attendees began to liquidate their holdings. This trend continued post-event, with the memecoin’s value declining by approximately 8% alongside a drop in participants’ token balances.
The silver linings
Not all attendees were dissatisfied with the dinner. Former NBA player Lamar Odom took the chance to promote his own memecoin, ODOM.
Another entrepreneur expressed to the media:
“This event marks a significant moment as the 47th President, Donald Trump, spoke to us. There’s no comparison to any current rewards in the market.”
This individual framed the gathering as a valuable networking experience, aiming to connect with numerous participants.
A former poker player, now operating a crypto site, described the evening as a unique experience. He noted that it indicated Trump’s willingness to engage with the coin, potentially boosting investor confidence.
Conversely, a CEO of a digital asset management firm analyzed the criticism, suggesting that the event served as a social experiment in cryptocurrency. He noted that understanding its long-term effects would be crucial.
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