Donald Trump is set to host a gala for the top 220 holders of the $TRUMP memecoin at a D.C. golf club. The event will feature an exclusive reception for the top 15 holders, including a VIP White House tour, while the price of the memecoin has seen significant fluctuations recently.

An announcement offering a VIP dinner with Donald Trump for top holders of the TRUMP memecoin triggered $2.4 billion in onchain transfers and a 200% increase in trading activity. The price of the token jumped 60% following the news, although trading volumes have since diminished.

President Trump is facing criticism over potential conflicts of interest related to his family's cryptocurrency ventures as he announces two fundraising dinners for TRUMP memecoin holders. Lawmakers have raised ethical concerns regarding these events, which promise exclusive access to the presidency in exchange for significant investments.