- Trump’s May 5 crypto and AI dinner drew attention for its record-breaking $1.5 million-per-seat fundraising model.
- The top 220 holders of the $TRUMP token are earning exclusive dinner access with Trump via a blockchain-based contest system.
- Senators Ossoff, Lummis, and Warren sharply criticized Trump’s crypto-linked events, raising serious legal, ethical, and security concerns.
President Donald Trump’s new fundraising effort has raised eyebrows this month as two consecutive dinners attracted attention not only for the guest list but also for how access was attained. The first dinner on May 5 was hosted by MAGA Inc. and assembled crypto and artificial intelligence (AI) champions for an evening that cost a staggering $1.5 million per seat, which put the party on the list of the most expensive political events in recent American history.
David Sacks, a well-known name in both the crypto and AI worlds, attended the dinner as the guest of honor. Sacks has become ever more influential in recasting Washington’s rule-making. Several figures in the crypto space have embraced Sacks’ increasing influence, as the last few months have witnessed major policy reorientations at the federal level in crypto policy.
The super PAC that hosted the dinner, MAGA Inc., has not yet said how it will use the millions raised. Although the PAC has been known to support Trump, it is notable to take into consideration that constitutionally, he cannot run for president for the third time, and so there is still a mystery as to how these funds will be utilized in the end.
Top 220 Token Holders to Dine With Trump
Later in the month, on May 22, the Washington, D.C. area’s Trump National will host a second dinner, but the entrance conditions are not traditional. Rather than writing checks, invitees find access to the event through a blockchain contest. The largest holders of the $TRUMP meme token, the top 220, respectively, get tables at the dinner accompanied by the man himself, Donald Trump. The contest will close at the end of May 12 and has already generated considerable hype in the crypto community.
The vision of crypto holders gaining personal access to an American president has attracted both excitement and criticism. For some, it is an exciting intersection of digital finance and politics, but for others, there are grave doubts about governance and ethical considerations, particularly in the context of rising attention on crypto’s participation in U.S. politics.
The move by MAGA Inc. into crypto-powered fundraising is an opening of a new chapter in the raising of political capital but raises substantial questions about oversight. With millions already raised through these events, analysts are looking to understand how the funds may shape future political maneuvers.
Ossoff Slams Trump’s Crypto Dinner
On April 25, Senator Jon Ossoff drew attention when he firmly criticized Trump’s dinner, which he described as symbolic, during a town hall. Ossoff spoke openly and didn’t mince words.
“When the sitting president of the United States is selling access for what are effectively payments directly to him. There is no question that that rises to the level of an impeachable offense.”
Other lawmakers echoed Ossoff’s criticism. Pro-crypto Senator Cynthia Lummis was also concerned, indicating that though she is crypto-supportive, granting selective personal access in exchange for holding a meme token was an unsettling trend. She said selling such access raised ethical red flags and suggested there were wider issues on the congressional horizon.
The drama between crypto hype and the law became even more apparent when Senator Elizabeth Warren raised an alarm on May 4. On social media, Warren condemned the stablecoin of the Trump family for surging in price because of what she described as an illicit crypto deal with the United Arab Emirates. To her, the deal, which was reached in USD1, had national security implications and warranted caution.
