Major Investors Complain About Food and Service Quality
Trump Leaves After 23 Minutes Without Speaking to Guests
Controversy has arisen after U.S. President Donald Trump held a private dinner for investors in his meme coin, "Trump Coin" ($TRUMP), with some investors expressing dissatisfaction about the event, according to foreign media reports.
On May 23 (local time), President Trump invited 220 major holders of his meme coin, "Trump Coin," to a dinner at the Trump National Golf Club in Sterling, Virginia. The average amount of Trump Coin held by each attendee was reported to be $1.78 million (2.42 billion KRW).
According to CNN on May 25 (local time), the dinner was a formal black-tie event, requiring attire such as tuxedos or dresses rather than standard business suits. The menu included "Trump Organic Farm Green Salad," followed by a choice of filet steak or fish, served with mashed potatoes and vegetables. For dessert, a warm chocolate lava cake was served.
However, some attendees voiced complaints about the quality of the food, the service, and the overall atmosphere of the event. Nicholas Pinto, 25, who invested $360,000 (490 million KRW) in Trump Coin, told tech media outlet Wired, "It was the worst food I have ever had at a Trump golf course. The only decent food was the buttered bread." He added, "The food was so bad that I could hardly eat and left the venue." Pinto also texted a reporter from the financial media outlet Fortune during the event, calling the food "garbage" and describing the steak as "Walmart (cheap) steak."
Steve Kovach, a reporter for financial news channel CNBC, harshly commented, "Spirit Airlines (a U.S. low-cost carrier) in-flight meals are actually better." Coin investor John Harper evaluated the fish dish served at the dinner by saying, "It looked like it came straight from the Costco freezer section," and told financial media outlet TheStreet, "Even weddings at Holiday Inn serve better food than this." According to CNN's report of Pinto's remarks, President Trump stayed at the event for only 23 minutes, left the venue without speaking to attendees or taking questions.
President Trump launched the meme coin "Trump Coin" three days before his inauguration, in January of this year. Meme coins are speculative cryptocurrencies created for fun, often inspired by online trends, jokes, or famous figures, and their prices fluctuate based more on hype than intrinsic value. Immediately after its launch, the price soared to $75, briefly making President Trump a cryptocurrency billionaire. However, the price later plummeted to around $7.5, but spiked sharply again after the dinner event with President Trump was announced.
On April 23, the official Trump Coin website announced, "The top 220 purchasers of the coin will be invited to a private dinner at President Trump's Virginia golf club," and added, "The top 25 holders will also attend a welcome event with President Trump before the dinner and a VIP tour of the White House." This announcement sparked controversy. The real-time leaderboard of the top 220 holders was also made public, drawing criticism that it encouraged more purchases.
The meme coin is largely held by companies owned by Trump, meaning that as the price rises, President Trump personally benefits. In addition, increased trading volume generates more transaction fees. The New York Times (NYT) pointed out, "Businesses associated with President Trump own a significant amount of the coin," and noted, "Each time the coin's price rises, at least on paper, the president personally profits."
Meanwhile, it is reported that at least two Koreans were among those invited to the event. Oh Sangrok, CEO of digital asset management firm Hyperithm, was reportedly ranked within the top 25 holders of Trump Coin and attended the event. Rha Sugyeong, an executive at Hyperithm, was also confirmed to be on the invitation list. Regarding this, Rha Sugyeong posted on LinkedIn before the event, stating, "I will be in Washington, DC this week to attend the 'GetTrumpMemes' event at Trump National Golf Club."
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