On Thursday, US President Donald Trump will host a meal for the best crypto shareholders at his Virginia golf club. 220 of the world’s largest buyers of the$ Republican memecoin, a crypto memecoin launched by the US senator in January, will attend the dinner. The major 25 buyers will be given a private audience with Trump before supper and a visit of the White House, the president’s established residence, according to the event site. Justin Sun, a Chinese-born bitcoin entrepreneur and the creator of the TRON cryptocurrency, is one of the biggest owners. Sun claims to have invested$ 93 million in Trump-related crypto and$ 20 million in the gold. He’s even being looked into in the US for market manipulation, despite the fact that Trump-appointed officials put the case on hold earlier this year. A Trump family-backed company spent$ 30 million on online property a few weeks before that delay. Sun claimed on social media that he was “honored” to enter the supper and eager to discuss the crypto industry. Political backlash Despite some Republicans ‘ concerns, the majority of the criticism has come from Democrats. Senator Chris Murphy referred to the dinner as a” secret gathering” where rich people, possibly foreigners, you try to influence the leader. Murphy posted on X on” It’s inherently corrupt- a way to get access to the President.” Press director Karoline Leavitt called the says “ridiculous,” and the White House responded with a rebuttal. She claimed that Trump sacrificed a lavish company life to serve the public. Trump’s turnaround and cryptoregulationThe Senate is advancing a new act to regulate stablecoins, a type of cryptocurrency connected to conventional funds. The GENIUS Act, which went into effect this year, may contribute to the development of more crypto-safety regulations. Trump was previously a crypto sceptical, and his views changed during the campaign in 2024. Some crypto-related companies became big Trump donors after being offended by the Biden administration’s approach to the market. The crypto change FTX collapse and the 25-year phrase of its creator, Sam Bankman-Fried, are two main scandals that have affected the industry. Interest is still high, though, as of this week, Bitcoin hit a record high of$ 109,500. Trump home strengthens crypto ties Donald Jr. and Eric, Trump’s children, have been spearheading some new crypto ventures. They have invested in Binance, a significant change whose creator aspires to receive a pardon. These assets are managed by World Liberty Financial, a business that the Trump family founded next fall. Donald Jr., Eric Trump, and Zach Witkoff, the brother of a Trump assistant, make up the management staff. Trump has also signed an executive order to establish a” Strategic Bitcoin Reserve” for the US government, as well as taking steps to help crypto on a federal level.
