Key Takeaways
- TRUMP token price dropped over 7% after a high-profile dinner hosted by Donald Trump.
- 92 of 220 eligible wallets liquidated their TRUMP holdings before the event.
- Senator Chris Murphy called the dinner 'corrupt' and demanded transparency on attendees.
President Donald Trump’s high-profile dinner on May 22 for top holders of the TRUMP memecoin ended in backlash and a significant token sell-off.
Held for the top 220 TRUMP token holders—with VIP access granted to the top 25—the gala featured a luxury meal and appearances by major figures in the digital asset space.
Notable attendees
Among the guests was TRON founder Justin Sun, who held $19 million worth of TRUMP before the event.
Others included Vincent Liu of Kronos Research, Synthetix’s Kain Warwick, and former NBA player Lamar Odom.
The average attendee held $1.79 million in TRUMP, with a median stake of $348,000. Around 72% of guests traveled from outside the U.S.
Token liquidation & price impact
Despite the celebratory atmosphere, blockchain data showed that 92 of the 220 eligible wallets had fully liquidated their TRUMP positions before the event.
Overall holdings among top participants dropped from 11.3 million to 7 million tokens.
Following the event, TRUMP’s price fell over 7% to $13.70.
Political criticism
The gala also drew political criticism.
Senator Chris Murphy labeled the event “corrupt” and demanded Trump release the attendee list.
He said:
Trump’s meme coin is designed to facilitate corruption. You can pay Trump secretly, which gets you secret special access to the President.
