Trump will host more than 200 of the top buyers of his cryptocurrency token at his golf club this evening, rewarding a group that has spent nearly $400 million on the $TRUMP token.
The top 220 holders of the token, which Trump announced days before his second inauguration, have been invited to Trump National Golf Club in Potomac Falls, Virginia, just outside Washington, D.C., for a black-tie dinner with the president.
Trump last month began promoting a competition that would reward the top buyers of the crypto coin with a private dinner. The top 25 buyers were additionally invited to a “exclusive private VIP reception” with Trump.
A seat at the dinner costs more than $1 million on average, ranging from those who spent less than $100,000 on the coin to those who doled out $37 million.
The identities of most invitees remains anonymous, but at least one has been identified as Chinese-born crypto mogul Justin Sun.
The Trump organization and its affiliated groups collectively own 80% of the token, according to the website for the contest.
Democrats and Republicans alike have voiced concerns over the event, with some characterizing it as an attempt by Trump to profit off the presidency. Democrats have introduced legislation that would bar elected officials from issuing, endorsing or sponsoring crypto assets.
