“It’s fundamentally corrupt — a way to buy access to the President,” said Sen. Chris Murphy.
Former President Donald Trump will host a private gala Thursday at his Virginia golf club for the 220 top investors in his $TRUMP cryptocurrency memecoin. The exclusive dinner offers the top 25 investors a private session with Trump and a White House tour. Critics argue the event creates a loophole in political influence laws, enabling foreign actors to buy access.
Chinese-born entrepreneur Justin Sun, under U.S. investigation for market manipulation, claims the top investor slot after committing $20 million. Sun praised Trump online, writing he was “honored to support @POTUS.”
Sen. Chris Murphy criticized the dinner as a secretive channel for foreign oligarchs to gain favors. “It’s fundamentally corrupt — a way to buy access to the President,” Murphy posted on X.
The event comes as the Senate advances the GENIUS Act, aimed at regulating stablecoins. Meanwhile, Trump has embraced crypto, creating ventures through his sons and backing a “Strategic Bitcoin Reserve” via executive order.