Trump Token Tumble: Gala Attendees Dump Holdings as Price Drops 8% Amid Protests

Just when you thought crypto and politics couldn’t get messier...

Holders bailed faster than a Wall Street banker dodging accountability. The so-called ’Trump token’ took an 8% nosedive ahead of its namesake gala—proving once again that in crypto, even the hype machine has a sell-by date.

Bonus cynicism: Nothing rallies a crowd like a good old-fashioned pump-and-dump. At least the whales got their steak dinner.

Meanwhile, TRON founder Justin Sun topped the list of attendees with a $19 million stake in the TRUMP token, while the average guest held approximately $1.79 million in TRUMP. The median investment in the digital asset was about $348,000.

Who attended TRUMP’s dinner?

While Trump’s team did not publish an official guest list, social media posts and blockchain data helped confirm several attendees.

These included Justin Sun, Vincent Liu of Kronos Research, Synthetix founder Kain Warwick, Magic Eden CEO Jack Lu, and unnamed representatives of crypto projects like Biconomy, Sonic SVM, and SolCex.

Others who spotted or self-reported at the event were former NBA player Lamar Odom, who recently launched the ODOM token, MemeCore executives like Rudy Rong, and Russian-born crypto entrepreneur Nikita Anufriev.

The guests described the event as a rare convergence of global crypto players, many of whom flew in from Asia and Europe. Liu of Kronos said:

“Hearing President Trump affirm his support for crypto in person is both inspiring and deeply motivating.”

Meanwhile, photos shared on social media revealed a luxury dinner featuring halibut, filet mignon, and a signature organic salad named after Trump.

Notably, SUN said he received a Trump Tourbillon Watch at the dinner

TRUMP token dumps after dinner gala

While the dinner was intended to celebrate the eponymous token’s success, market sentiment quickly soured. Shortly after the event, the price of TRUMP dropped over 7% to $13.70, according to CryptoSlate’s data.

Blockchain sleuths revealed that nearly half the Gala attendees no longer held TRUMP tokens in their wallets. In fact, 92 of the 220 eligible wallets had fully exited their positions before the event.

Additionally, the token balances among top holders declined from 11.3 million to 7 million post-dinner.

Moreover, the glitz of the event also attracted heat from demonstrators and US lawmakers alike, who criticized the event as a pay-to-play scheme.

Senator Chris Murphy called the GALA “corrupt” and demanded that Trump release the official guest list if the dinner was legitimate.

He said:

“Trump’s meme coin is designed to facilitate corruption. You can pay Trump secretly, which gets you secret special access to the President. If Trump’s dinner with the top coin buyers was legit, he WOULD release the list of attendees. But it’s corrupt. So the list stays hidden.”