Trump’s Two Cryptocurrency Dinners in May: Tickets Priced at $1.5 Million Criticized as Bribery, Trump Responds to Lawmakers’ Stock Trading Actions
Donald Trump’s High-profile Embrace of Cryptocurrency and AI Raises Political and Ethical Concerns
U.S. President Donald Trump is vocally embracing the cryptocurrency and AI industries, yet his close involvement with related projects has raised increasing political and ethical questions. Following challenges from Senator Elizabeth Warren and others, Trump not only stood firm but also announced two controversial dinners set for May, igniting public discourse.
Trump Announces Crypto and AI Dinner, Ticket Price Reaches $1.5 Million Per Person
On Monday, Trump posted on his personal social platform, Truth Social, announcing an upcoming “Crypto & AI Innovators Dinner” in Washington later this month, organized by his pro-Trump super PAC, MAGA Inc. This event is regarded as a political fundraising effort, inviting prominent figures from the cryptocurrency and AI sectors, with the most notable guest being Silicon Valley investor David Sacks, dubbed the “Crypto Tsar.” According to CNBC, the entry threshold for this dinner is steep, with tickets starting at $1.5 million per person, making it one of the most expensive political fundraising events in recent years. Observers widely believe this dinner will significantly enhance Trump’s connections with the tech industry while potentially raising more concerns about conflicts of interest.
$TRUMP Token Dinner Sparks Price Surge, Criticized as “Political Ticket”
In addition to the AI and cryptocurrency innovators dinner, Trump is also planning another exclusive event for “$TRUMP Token Supporters” on May 22, which includes dinner and a White House tour. This event is specifically for major token holders, and the announcement has already driven the token price up by over 50%. This move has drawn sharp criticism from some in Washington. Senators Warren and Adam Schiff pointed out in a joint letter that Trump’s actions resemble exchanging political power for private business investments, representing blatant favoritism. “This is akin to selling presidential-level access,” they wrote.
In Response to Criticism, Trump Claims “Not Making Money, Doesn’t Care About Price”
In an interview with NBC reporter Kristen Welker, Trump downplayed the issue of conflicts of interest and countered, “Why don’t you tell me what this coin is worth now? I really don’t know.” He emphasized that he has not profited from this endeavor and that the initiative was launched well before the election. Trump added, “I support cryptocurrency because if we don’t, China will get ahead. This is a future trend, very popular.” He also hit back at critics, stating that politicians like Warren and Pelosi are the real representatives of using their positions to manipulate the stock market.
80% of Tokens Controlled by Trump Family, $32.5 Million in Transaction Fees Flow to Internal Wallets
According to analysis firm Chainalysis and data from the official website, since its launch in January, the $TRUMP token has generated over $325 million in transaction fees that have flowed into wallets associated with the Trump family via smart contract mechanisms, with approximately 80% of the supply still controlled by Trump enterprises and their partners. This high concentration and lack of transparency in funding channels have raised public concerns that the token could serve as a potential conduit for foreign infiltration and political lobbying. Notably, one of the known investors, Justin Sun, is regarded as a major financier for another DeFi project linked to the Trump family and is also one of the largest holders of the TRUMP token.
Divided Opinions in the Legal Community: Perhaps Not Illegal, But Ethical Concerns Persist
Views on Trump’s close involvement in cryptocurrency vary within the industry and legal circles. Cathy Yoon, chief legal officer at Wormhole, stated, “This isn’t necessarily illegal, but from the perspective of integrity and public office ethics, there are indeed many questions.” Another blockchain lawyer, Olta Andoni, remarked that Trump has not directly promoted this coin, making it difficult to prosecute from a legal standpoint. “It’s like other meme coins; perhaps the timing is just not right.” She added, “From NFTs to the current tokens, I believe he will even venture into AI projects next.”
The Blurred Lines Between Technology and Politics Are Growing More Obscure
Trump’s two cryptocurrency dinners have become one of the most controversial events in American politics today. While the combination of technological innovation and political dialogue may represent a future trend, such interactions could also pose unprecedented risks in the absence of clear regulatory mechanisms. Whether voters and regulators can effectively distinguish between innovation and the abuse of power will be an important observation indicator in the coming months.
Risk Disclaimer
Investing in cryptocurrencies carries a high level of risk, and their prices can be highly volatile, potentially leading to the loss of your entire principal. Please assess risks carefully.
