A crypto investor who paid just $500 got a seat at the table. That detail alone tells you something about the crowd gathering at Mar-a-Lago on Saturday.
A Token That Lost 93% Of Its Value
Morten Christensen, who attended a similar event in 2025 after a $1,200 bet on US President Donald Trump’s memecoin, scored his way back in for a fraction of that cost.
He’s candid about the mood shift. “Trump is much less liked right now than he was after inauguration,” Christensen told Bloomberg.
“With the whole year of tariffs, crypto is bleeding, his reputation within the crypto community is not as good.”
The TRUMP token, officially called Official Trump, has dropped more than 93% from its all-time high of roughly $45 to under $3.
Despite that collapse, up to 297 top holders of the coin are expected to join Trump at his Florida estate for what organizers are calling the “Memecoin Millionaires Line Up for Trump’s Exclusive Luncheon” — a private gathering that critics say is really about buying face time with a sitting president.
The guest list reads like a who’s who of crypto finance: Tether CEO Paolo Ardoino, Upbit founder ChiHyung Song, Bitcoin advocate Anthony Pompliano, and Anchorage Digital CEO Nathan McCauley are all reported to be attending.
The Absent Name At The Top Of The Leaderboard
One name is conspicuously missing from the confirmed list. Tron founder Justin Sun sits atop the TRUMP memecoin leaderboard with 2.4 billion points — more than anyone else — yet no public confirmation of his attendance has been made.
That silence comes after Sun filed a lawsuit this week against World Liberty Financial, the crypto platform co-founded by Trump’s sons.
Sun alleges the platform froze his tokens and threatened to destroy them without valid reason. He described himself as an “ardent supporter” of Trump while blaming unnamed project team members for acting against the president’s values.
Ethics Watchdogs Raise Conflict Of Interest Concerns
Lawmakers and nonpartisan watchdog groups have criticized the Saturday gathering, arguing that Trump is using a financial product he personally profits from to offer access to the presidency.
The nonprofit Citizens for Responsibility and Ethics in Washington went further, pointing out in a Friday post that crypto wallets linked to the TRUMP token have moved money in ways that make it hard to trace how much the president is earning.
Featured image from Getty Images, chart from TradingView
