Trump’s Exclusive Crypto Dinner: A ‘Fail’?
Trump Hosts ‘Most Exclusive’ Crypto Dinner, But It Backfires
Donald Trump, the former U.S. president, recently hosted a lavish dinner for around 220 major investors in his own meme coin, $TRUMP. Dubbed the ‘most exclusive’ crypto party, the event took place at Trump’s luxurious golf club in Virginia. While Trump himself hailed the event as ‘good, very good,’ attendees and some of his staunch supporters are painting a different picture.
Champagne Wishes and Water Reality
The dinner was a star-studded affair, with Trump making a speech and even busting a move to the iconic ‘YMCA.’ The top 25 investors were even treated to a private reception with the former president, while the top four received $100,000 crypto-themed watches. However, not everything was glitz and glam.
Nicholas Pinto, a 25-year-old attendee who arrived in his father’s Lamborghini, shared his underwhelming experience with CNBC. He complained about the lackluster food, limited drinks, and Trump’s brief appearance. Pinto felt that the former president only interacted with a select few, rehashed old crypto talking points, and left abruptly without taking any questions or pictures.
Adding to the criticism, Pinto pointed out security lapses and a lack of focus on the event’s purpose. He mentioned that phones weren’t properly secured, and attendees were more preoccupied with checking the fluctuating price of $TRUMP than engaging in meaningful discussions.
From ‘Hugging to Death’ to Conflict of Interest
The event hasn’t just disappointed attendees; it has also raised concerns among some Trump supporters in the crypto community. Nic Carter, a partner at the crypto investment firm Castle Island Ventures and vocal Trump backer, expressed his discomfort with the personal profits overshadowing industry needs.
Carter told the Associated Press, “It’s distasteful and an unnecessary distraction. The president is hugging us to death. We would much rather that he passes common sense legislation and leave it at that.”
James Thurber, an American University professor emeritus specializing in corruption, believes the event reflects a troubling trend. He stated that Trump is becoming a ‘salesman-in-chief,’ creating a scenario rife with conflicts of interest. Thurber’s concerns are echoed by Connecticut Democratic Senator Richard Blumenthal, who criticized the gathering for essentially ‘auctioning off access’ to the White House.
A Steep Decline
The $TRUMP meme coin experienced a significant drop in value following the dinner. It traded at $16 on May 21 but fell to $12.77 by the time of writing, with a market capitalization of $12.77 billion.
Trump’s Crypto Dinner: A PR Disaster?
While Trump may have seen the dinner as a win, it appears to have backfired spectacularly. The underwhelming experience, security lapses, and concerns about potential conflicts of interest have overshadowed the event’s supposed glamour. This incident may raise further questions about Trump’s motives and the future of his involvement in the crypto world.
