Sen. Blumenthal, Watchdogs Call Out Trump’s Unprecedented Presidential Corruption Ahead of Crypto Competition Dinner

Accountable.US Finds 80 Percent of Top 25 $TRUMP Competition Winners May Be Foreign or Circumventing U.S. Crypto Restrictions

Washington D.C. – Today, U.S. Senator Richard Blumenthal (D-CT), Accountable.US, and Consumer Federation of America hosted a press call shining a light on President Donald Trump’s most corrupt self-enrichment crypto scheme to date: his $TRUMP Coin competition dinner which he will host tonight at the Trump National Golf Club. Last month, Trump announced that he would hold a private dinner for the top 220 holders of his cryptocurrency venture, with the top 25 buyers gaining access to a private reception with Trump and a “VIP tour.”  One of the event taglines even promised: “Own a Piece of Trump.” 

*CLICK HERE for recording of today’s press call. 

Trump’s scheme to use the Office of the Presidency to sell influence to the highest bidder while lining his own pockets immediately triggered a free-for-all among investors seeking to curry favor with the President. It also set up a cattle call for special interests and wealthy foreign investors to compete over who can buy the most influence with Trump, even if it threatens the public interest and national security. In fact, a new analysis from Accountable.US released today found that among the $TRUMP coin holders on the final competition ‘Leaderboard,’ fully 80 percent – 20 of the top 25 – interacted with crypto platforms not allowed In the U.S., suggesting they are not U.S.-based or are circumventing U.S. rules. Separately, Accountable.US has been tracking known attendees, and several likely foreign nationals have admitted they will be in the room tonight.

“What’s happening tonight at Trump’s golf course—where he is hosting a dinner for the top investors in his meme coins—is in effect, putting a ‘For Sale’ sign on the White House. It’s auctioning off access,” said Senator Blumenthal. “The Founders wanted to prevent exactly this kind of corruption—the President becoming beholden to a foreign power through private benefits going to him, which is exactly what’s happening here through Trump’s meme coins, through Fight, Fight, Fight, and through World Liberty Financial. As Ranking Member of the Permanent Subcommittee on Investigations, I have launched an inquiry and written to both companies asking for details. The responses I have received have been completely inadequate, but I am going to persist.”

“When 80 percent of the $TRUMP coin competition winners’ circle appear to be either foreigners or U.S. regulation dodgers, it’s imperative the President disclose who these mostly anonymous actors are and what they want from his administration. We already know an accused Chinese billionaire fraudster is the #1 holder of $TRUMP coin. If the Trump family refuses to be transparent about who all these top $TRUMP holders are, it raises serious questions about the hidden agendas at play that could cost the American people or threaten our national security,” said Accountable.US Executive Director Tony Carrk. “Never has there been a more shameless case of a U.S. president using their power and influence to line their own pockets. While the President wines and dines wealthy insiders from around the world, American working people are pushed further back in line, bracing for higher costs under Trump’s regressive tariffs and budget plan. It seems to be a race of how much money the Trump family can get away with making off the power of the presidency before his allies in Congress flinch and start insisting on basic transparency and oversight.” 

“Trump is destroying our system of checks and balances so he can abuse the presidency for personal gain. This is the threat to democracy the founding fathers warned us of, and our democracy depends on every Representative and Senator fighting back with unified and unyielding force,” said Corey Frayer, Director of Investor Protection at Consumer Federation of America.  

When the $TRUMP coin was first announced, just days before Trump’s second inauguration, it quickly generated $100 million for Trump and his business associates. After the announcement of tonight’s dinner, reports indicated that Trump’s memecoin insiders profited $900,000 in two days after the event announcement, with the coin’s value jumping more than 50%. 

Earlier this week, Chinese crypto billionaire and accused fraudster Justin Sun personally confirmed findings from Accountable.US that he is the top-ranked holder on the $TRUMP “leaderboard.” A federal fraud case against Sun was mysteriously paused in February 2025 after he bought $75 million in tokens offered by Trump crypto venture World Liberty Financial Inc. (WLFI). Separately, Accountable.US also found that 14 of the top 50 holders of Trump’s WLFl – who together hold over 6.7 billion tokens valued at about $335 million – have used crypto platforms that are restricted against U.S. users—strongly suggesting these entities are either not U.S.-based or they are trying to circumvent U.S. crypto restrictions. 

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