U. S. President Donald Trump will host winners of his second annual meme coin contest at Mar-a-Lago in Palm Beach, Florida, on Saturday. The event offers top buyers of his $TRUMP cryptocurrency an audience with him, despite the token’s value dropping 96% from its peak last year. The gathering comes amid increased scrutiny of the Trump family’s crypto activities, with Democratic leaders calling for investigations.
The contest will welcome the 297 largest $TRUMP token holders who registered, and Trump has described the event as the “most exclusive” crypto and business conference in the world. The top 29 token holders will also attend a special VIP reception with the president. This event represents Trump’s blending of his presidential status with the family’s speculative crypto ventures, which has raised ethical concerns, as his personal wealth in crypto has grown alongside changes in U. S. crypto policy.
While many retail investors have lost money in the $TRUMP token, the Trump family and affiliated entities have profited significantly, reportedly exceeding $1 billion from crypto asset sales. This includes at least $336 million connected to meme-coin sales in the first half of 2025 alone. A White House spokesperson stated that Trump’s assets are managed by his children, asserting there are no conflicts of interest.
Contest rankings were determined by the amount of $TRUMP held and purchases of Trump-branded merchandise made between March 12 and April 14. Winners will receive various Trump-branded items. Currently, the $TRUMP token is near its all-time low, closing at $2.81, down from an all-time high of $75 shortly after its launch in January 2025. The 297 winners currently hold approximately $29 million worth of $TRUMP, significantly down from the $148 million held by participants in the previous contest.
Among the top $TRUMP wallets is crypto billionaire Justin Sun, who won the contest again this year. Sun has sued World Liberty Financial, a Trump family venture, claiming his holdings were frozen. World Liberty’s CEO contested the lawsuit, labeling it “meritless. ”
With information from Reuters
