Overview

• President Trump attended the $1.5 million-per-plate 'Crypto & AI Innovators Dinner' on May 5, featuring tech investor David Sacks, to raise funds for MAGA Inc.
• A second dinner on May 22 will grant access based on $TRUMP meme coin holdings, determined by a blockchain leaderboard contest rewarding top token holders.
• The $TRUMP token has surged over 50% since the dinner announcements, generating more than $324 million in trading fees, with 80% of the token supply controlled by Trump affiliates.
• Critics, including watchdog groups, warn the token-based fundraising could allow wealthy or foreign actors to buy access to the president, raising ethical and regulatory concerns.
• President Trump has denied personal profit from crypto ventures, emphasizing U.S. leadership in digital assets while declining to address transparency concerns tied to the events.