President Donald Trump is set to host a private dinner on May 22 at his Washington, D.C. golf club for the top 220 holders of his self-branded TRUMP memecoin

As of April 23, the site invited top holders to apply for the event, but specified that attendees must pass a background check, cannot be from a Know Your Customer (KYC) watchlist country

President Donald Trump is set to host a private dinner at his Washington, D.C. golf club on May 22 for the top 220 holders of the TRUMP memecoin, according to the token’s official website.

As of April 23, the site invited top TRUMP coin holders to apply for the event, but specified that attendees must pass a background check, cannot be from a Know Your Customer (KYC) watchlist country, and are not allowed to bring guests. The final guest list remains unconfirmed.

The TRUMP token was launched on Jan. 17 ahead of Trump’s inauguration, but it has drawn sharp criticism from lawmakers and crypto analysts who argue it creates a direct financial pipeline to the president—without oversight or public disclosure. The project’s team reportedly controls 80% of the token’s total supply, while most of the other top holders remain anonymous.

News of the dinner sent the token’s price soaring 52% from $9.30 to $14.20. The coin previously peaked at a $15 billion market cap before crashing by more than 50% in just three days after launch.

The initiative mirrors Trump’s prior efforts to monetize digital assets during the 2024 campaign, including NFT sales and crypto donation drives. In 2023, he held a similar private dinner in Florida for buyers of his “mugshot” NFTs, which featured an image of his arrest in Georgia related to 2020 election interference.

TRUMP isn’t the only memecoin tied to the first family. Melania Trump launched her own token, MELANIA, on Jan. 19. It has since dropped over 90% from its all-time high of $13.73. On-chain data shows the project team moved about $30 million from the token’s community funds earlier this month.

Though Trump once dismissed Bitcoin and other cryptocurrencies as “scams,” his return to politics has seen a shift in tone—embracing digital assets and appearing at crypto industry events.

The TRUMP dinner raises further questions about the intersection of personal profit, campaign strategy, and national security concerns. A U.S. lawmaker recently warned that the memecoin could pose risks if foreign entities use it to funnel money into the U.S. political system.