Trump's Meme Coin-Focused Crypto Food Discussions Ignite! - Coin Bulletin

U.S. President Donald Trump's two separate cryptocurrency-themed dinners scheduled for May have intensified criticisms regarding his relationship with TRUMP memecoin holders and potential conflicts of interest.

U.S. President Donald Trump announced that despite criticisms regarding his and his family's connections to cryptocurrencies, he plans to host two separate crypto themed dinners in May. In a post on Truth Social on Monday, President Trump stated that in addition to a dinner for the top 25 holders of the official TRUMP memecoin he previously announced, he will also organize a new event called "Dinner for Crypto and Artificial Intelligence Innovators."

This news comes after Massachusetts Democratic Senator Elizabeth Warren and California Democratic Senator Adam Schiff described the Trump family's crypto transactions as "suspicious." Lawmakers expressed their concerns by claiming that Trump's currency memecoin has the potential for bribery and corruption.

"1.5 million dollars per plate"

David Sacks, a technology investor known as the "Crypto Wizard," will be a special guest at the dinner organized to raise funds for MAGA Inc.'s super PAC on Monday. According to CNBC, the participation fee for the dinner starts at 1.5 million dollars per plate, making the event one of the most expensive political fundraising events in recent history.

The gala dinner to be held for TRUMP memecoin, which is planned to take place on May 22, has created significant commercial activity for the token. After the gala, the token gained more than 50% in value. Senators Schiff and Warren stated in their jointly signed letters, "In President Trump’s announcement, it is promised that special access to the presidency will be given in exchange for a significant investment in one of the President’s commercial ventures."

Mixed Reactions and Ethical Issues

Trump dismissed potential conflict of interest allegations regarding providing access to token holders in a controversial interview with NBC News reporter Kristen Welker. "I’m not making any money from anything. All I’m doing is starting this long before the election. I want crypto. I think crypto is important because if we don’t do it, China will," Trump said.

However, according to the project's website, approximately 80% of the $TRUMP token supply is controlled by the Trump Organization and its affiliates. According to a report by Chainalysis, since its launch in January, approximately $325 million worth of transaction fees have been directed to wallets controlled by the project through an established mechanism that routes a percentage of each transaction.

Experts in the crypto sector are divided in their opinions. Wormhole's general advisor Cathy Yoon stated, "In general, I don't think promoting $TRUMP is inherently illegal, but I can say that it raises issues of integrity and a lot of ethical questions." Meanwhile, crypto lawyer Olta Andoni indicated that it is "a memecoin like other memecoins" and believes there is nothing illegal about it.