Crypto Entanglements: Trump's Meme Coin Gala

An exclusive dinner for buyers of President Donald Trump's $TRUMP meme coin is set to take place at his private country club near Washington, D.C. Among the attendees is Justin Sun, a notable entrepreneur in the crypto industry, who claims the largest publicly known investment, amounting to $18.5 million.

In total, investors spent approximately $148 million for a chance to attend the event, with the leading 25 holders contributing $111 million. These top investors will not only have dinner with Trump but also receive luxurious watches. Discussion over the ethical implications of such an event sparked a proposed legislative bill from senior Democratic lawmakers.

A White House spokeswoman defended Trump, stating his assets are held in a blind trust. However, the event draws criticism over its potential to allow political leveraging of the unregulated crypto sphere. Meanwhile, the Trump family's crypto endeavors continue to raise questions amid rapid profitability, with major investors gaining substantial returns.

(With inputs from agencies.)