President Donald Trump in April promised that the largest holders of his memecoin could join him for a “Gala Dinner” outside Washington, D.C. On Thursday, he will make good on that pledge by sitting down with 220 holders of $TRUMP at a golf club in Virginia.
So, who is going and what will take place? Fortune has obtained an email sharing some of the details, and rounded up some of the attendee names that have become public. Our Q&A below reveals what we know so far—including the plans to protest an event that Democratic lawmakers and others say is a blatant exercise in corruption.
Where and when is it?
Trump is hosting the crypto gathering at the Trump National Golf Club in Potomac Falls, Virginia, one of his business’s many golf clubs, according to the email sent to guests.
Guests must arrive no earlier than 5:30 p.m., per the email. Dinner starts at 7 p.m. and may go as late as 10 p.m. Formal attire is required, including “Evening Dress for Ladies.” All invitees must complete a background check before attending the gala.
“It’s going to be a once-in-a-lifetime memorable evening with The 47th President of The United States Donald J. Trump,” read the email.
Why is Trump holding the dinner?
The dinner is for the largest holders of the president’s memecoin, or a cryptocurrency whose price rises or falls based on the popularity of the joke or person it’s associated with rather than any inherent utility.
Two days before his inauguration, Trump launched $TRUMP, which initially rocketed in price before plummeting to a current market capitalization of about $2.7 billion, according to CoinGecko. The project’s developers have since tried to buoy its popularity by offering ways for coin holders to use the memecoin as a form of payment for Trump-branded goods, like sneakers or Bibles.
Who’s coming?
While the website that promotes Trump’s memecoin has a leaderboard of the top 220 holders, the invitees are pseudonymous. Still, some have stated publicly that they’re attending.
Justin Sun, the Chinese founder of the blockchain Tron who told Forbes that his net worth exceeds $40 billion confirmed his attendance. “As the top holder of $TRUMP, I’m excited to connect with everyone, talk crypto, and discuss the future of our industry,” he posted on X.
MemeCore, a Singaporean crypto company, is also sending a representative, and Kain Warwick, an Australian crypto investor, has flown out for the dinner as well. Eighteen out of the 25 holders of Trump’s memecoin have interacted with the foreign crypto exchange Binance, according to an analysis from Fortune. That likely means they’re from outside the U.S.
Why is there a protest?
Trump’s memecoin gala has attracted a slew of criticism from detractors who say it’s a clear pay-for-access scheme, where investors have ponied up millions to get an audience with the 47th president. “Trump’s crypto businesses constitute one of the most corrupt innovations in American political history,” said Robert Weissman of the nonprofit group Public Citizen, who is organizing the protest outside the golf club.
Sen. Jeff Merkley (D-Ore.) is among those who will be joining the protest. “The President is working to secure GOOD deals for the American people, not for himself,” said a White House spokesperson in a statement.
When asked by Fortune about the protest in front of his father’s memecoin dinner on Thursday, Eric Trump dismissed the action. “Most of these people are paid to protest,” he proclaimed, without evidence.
This story was originally featured on Fortune.com
