High-Ranking Investors in Trump's Preferred Meme Coin Pay a Visit to the White House
President Donald Trump hosted a private cryptocurrency gala on Thursday evening, attended predominantly by top investors in a meme coin bearing his name, raising questions of ethics and potential conflicts of interest. On Friday, some of these investors were invited to tour the White House, they told our website, adding a layer of controversy to the affair.
Sangrok Oh, a South Korean crypto investor, revealed that he and several other high-profile investors received an invitation to tour the iconic building while also discussing crypto industries and their future. However, it remained unclear if President Trump himself would participate in the discussions.
Thursday's black-tie event, held at Trump's golf club in the Washington area, was open to approximately 200 cryptocurrency traders, many from overseas. Admission was granted through a contest offering invitations to the top holders of the $TRUMP meme coin, with at least some funds funneled directly into the Trump family's coffers.
Critics have denounced the gala as a 'pay for play' event, where investors who invested heavily in the meme coin gained exclusive access to the president.
White House Press Secretary Karoline Leavitt had previously stated that the dinner was a personal endeavor for the president, separate from his official duties. Leavitt asserted that since the dinner did not occur at the White House, it was not related to the president's official responsibilities.
However, these statements appeared to be contradicted by reports that top $TRUMP coin investors indeed visited the White House. As of Friday, the White House had not responded to our requests for comment.
Cherry Hsu, an executive at MemeCore, a Singapore-based blockchain startup, confirmed that her company's founder – known publicly as "Ice" – had also been invited to the White House visit. MemeCore, according to the contest leaderboard, finished as the second largest holder of the $TRUMP meme coin.
Justin Sun, a Chinese crypto tycoon and the top investor in the $TRUMP meme coin, shared a highly produced video of his White House tour on Friday, despite the White House denying any plans to offer tours to thecoin's top buyers. Sun also invested $75 million in World Liberty Financial, another Trump-backed cryptocurrency endeavor.
Initially, the Trump meme coin's website had advertised a "Special VIP White House tour" for the top 25 meme coin holders. However, the website later changed the wording to simply indicate a "Special VIP tour" would be arranged, neglecting to mention any connection to the White House. A disclaimer on the site noted that the tour was being organized by Fight Fight Fight LLC, with the president himself scheduled to appear as a guest.
As of now, there is no definitive evidence that the White House staff conducted the proposed tours or that official government resources were utilized for these investor-related visits or tours. Experts have expressed concern that such unregulated interactions could potentially benefit the president without any clear separation of his personal and official activities. However, the White House maintains there is no conflict of interest.
- The highly produced video shared by Justin Sun, the Chinese crypto tycoon and top investor in the $TRUMP meme coin, contains footage of a White House tour, raising questions about the alleged arrangements between the White House and the president's crypto investments.
- In addition to Justin Sun, other high-profile investors, such as Cherry Hsu from MemeCore, were also reportedly invited for a tour of the White House, sparking controversy in the realm of politics, general news, crime-and-justice, and the crypto industry regarding potential conflicts of interest.
