U.S. President Donald Trump is enthusiastically embracing cryptocurrency and AI industries, but his and his family's close involvement in related projects has raised increasing political and moral questions. After Senator Elizabeth Warren and others launched their criticism, Trump not only did not back down but announced two controversial dinners in May, sparking public opinion.
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ToggleTrump Announces Crypto and AI Dinner with Ticket Prices Reaching $1.5 Million per Person
Trump posted on his social platform Truth Social this week, announcing a "Crypto & AI Innovators Dinner" to be held in Washington later this month, hosted by the pro-Trump super PAC MAGA Inc. The event is seen as a political fundraiser, inviting notable figures from the crypto and AI industries, with the most notable guest being Silicon Valley investor David Sacks, dubbed the "Crypto Czar".
According to CNBC, the dinner has a high entry threshold, with prices starting at $1.5 million per person, making it one of the most expensive political fundraising events in recent years. The public generally believes that this dinner will significantly enhance Trump's connection with the tech industry while potentially raising more conflict of interest concerns.
$TRUMP Token Dinner Sparks Price Surge, Criticized as a "Political Entrance Ticket"
In addition to the AI and Crypto Innovators Dinner, Trump plans another dinner and White House visit on May 22nd specifically for "$TRUMP Token Supporters". The event, exclusively for major token holders, immediately pushed the token's price up by over 50% upon announcement, drawing strong criticism from some Washington political figures.
Senator Warren and Congressman Adam Schiff stated in a joint letter that Trump's actions are tantamount to exchanging political power for private business investment, a blatant transfer of interests. "This is essentially selling presidential-level reception rights," they wrote.
Facing Doubts, Trump Claims "No Money Made, Not Caring About Price"
In an interview with NBC reporter Kristen Welker, Trump downplayed the conflict of interest issue and countered by asking, "Tell me how much this currency is worth now, I really don't know." He emphasized that he has not profited from it and that this plan was initiated before the election.
Trump added, "I support cryptocurrency because if we don't, China will take the lead. This is a future trend, very popular." He also hit back at critics, stating that politicians like Warren and Pelosi are the true representatives of using official positions to manipulate stocks.
80% of Tokens Controlled by Trump Family, $3.25 Million in Transaction Fees Flowing into Internal Wallet
According to data from Chainalysis and the official website, since the $TRUMP token launched in January, over $325 million in transaction fees have flowed into wallets related to the Trump family through contract mechanisms, with approximately 80% of the supply still controlled by Trump enterprises and their partners.
This high concentration and opaque fund flow have raised concerns that the token could become a potential channel for foreign power infiltration and political lobbying. Notably, known investor Justin Sun is viewed as another major financial backer of a Trump family DeFi project and is listed among the largest $TRUMP token holders.
Legal Community Divided: Possibly Not Illegal, But Morally Questionable
The industry and legal community have differing views on Trump's close involvement in cryptocurrency. Wormhole's legal counsel Cathy Yoon stated, "This may not be illegal, but from an integrity and public office ethics perspective, there are indeed many questions."
Another blockchain lawyer, Olta Andoni, said that Trump has not directly promoted the token, making it legally difficult to convict. "It's like other meme tokens, just perhaps not at the best timing." She added, "From Non-Fungible Tokens to now tokens, I believe he will even venture into AI projects next."
The Increasingly Blurred Boundary Between Technology and Politics
Trump's two crypto dinners have become one of the most controversial events in the current U.S. political arena. Although the combination of technological innovation and political dialogue may be a future trend, such interactions could bring unprecedented risks in the absence of clear regulatory mechanisms. Whether voters and regulatory bodies can effectively distinguish between innovation and power abuse will be an important indicator in the coming months.
Risk Warning
Cryptocurrency investment carries high risks, and its price may fluctuate dramatically. You may lose all of your principal. Please carefully assess the risks.
