Trump Memecoin Gala Courts Foreign Crypto Elite—Regulators Take Notes

Dinner invites for the May 22 Trump Memecoin event reportedly include offshore whales and crypto diplomats—just as the SEC quietly updates its ’VIP’ watchlist.

Guest list leaks suggest a who’s-who of unregulated capital, with at least three attendees linked to recent stablecoin ’anomalies.’

Meanwhile, Ethereum maxis mutter about proof-of-steak dinners while Bitcoin OGs check their invites—and find only dust.

However, the identities of the holders remain unknown, with only short usernames like “Sun,” “MeCo,” and “JIGL” listed on the coin’s site. Bloomberg’s review of SolScan and Dune data showed that at least 76% of the token value held by the top 220 wallets likely comes from overseas accounts.

After the dinner announcement, the coin’s price jumped from around $9 to $14, with more than 400 transactions over $100,000 occurring in just five days. One foreign wallet made two purchases worth $3.6 million just hours after the event was announced.

The website site says applicants must pass a background check and cannot be from countries flagged on Know Your Customer (KYC) watchlists. Still, it is unclear how organizers will screen wallets or verify identities. Attendees must use self-custodied wallets and cannot bring guests.

Meanwhile, Senator Elizabeth Warren and Representative Adam Schiff have raised the event. They recently sent a letter calling for an investigation, and warned the event could be “pay-to-play” corruption and a “severe risk.” One senator reportedly even called for impeachment, saying Trump is “selling access for what are effectively payments directly to him.”

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