Trump hosts top crypto investors as industry leaders worry about personal profit motive
WASHINGTON: President Donald Trump rewarded top investors in one of his cryptocurrency projects with a swanky dinner on Thursday night, an event that showed the ascendance of an emerging financial industry — and also the president's willingness to mix public office with personal profit.
Some 220 of the biggest investors in the $TRUMP meme coin were invited to Trump's luxury golf club in Northern Virginia, where they dined on filet mignon and halibut. According to participants' posts on social media, Trump spoke for about half an hour before dancing to the song 'YMCA.'
Despite the White House insisting that Trump would be attending the event 'in his personal time,' he stood behind a lectern with the presidential seal as he touted an industry that's generating profits for his family business.
After feeling unfairly targeted under President Joe Biden, the crypto industry has quickly become a powerful political force, donating huge sums to help Trump and friendly lawmakers. The U.S. Senate is advancing key pro-crypto legislation while bitcoin prices soar.
However, even some pro-Trump crypto enthusiasts worry that the president's personal involvement may be undermining their efforts to establish credibility and stability for the industry.
'It's distasteful and an unnecessary distraction,' said Nic Carter, a Trump supporter and partner at the crypto investment firm Castle Island Ventures, who said the president is 'hugging us to death' with his private crypto businesses. 'We would much rather that he passes common sense legislation and leave it at that.'
As the president uses crypto as a platform to make money for his brand in unprecedented ways, it's also creating an opportunity for potentially shadowy buyers to use the anonymity of the internet to buy access to the president.
The lack of transparency was evident on a poster board at the dinner, where participants signed a ranking of top investors. Some used their real names; others used pseudonyms.
No media was allowed into the dinner, and the president was at his golf club for only about an hour. Protesters gathered outside the club holding signs that said 'stop crypto corruption' and 'no corrupt fools.'
Trump said the event was 'good, very good' as he returned to the White House.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
8 minutes ago
- Time of India
Columbia student Mahmoud Khalil case: Federal judge orders release of pro-Palestinian activist; freed after three months in detention
A federal judge on Friday ordered the release of Mahmoud Khalil, a former Columbia University graduate student, from immigration detention after spending more than three months in custody. Khalil was detained in early March as the Trump administration sought to deport him over his alleged involvement in pro-Palestinian protests on campus. The decision was announced by US District Judge Michael Farbiarz in New Jersey, following a request from Khalil's legal team to grant him bail or relocate him from Louisiana to New Jersey to be near his wife and newborn child, according to the Associated Press. Khalil's arrest marked the first under Trump's initiative against students involved in campus protests regarding Israel's military actions in Gaza. His prominent role in Columbia's pro-Palestinian demonstrations last year led to protests in New York and Washington, DC. US Secretary of State Marco Rubio has advocated for Khalil's expulsion, saying Khalil's activism poses 'potentially serious adverse foreign policy consequences for the United States.' Judge Farbiarz had previously ruled that the government could not continue detaining Mahmoud Khalil based on his role in pro-Palestinian protests. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo However, officials later argued that Khalil, a legal US resident, was being held for allegedly providing false information on his green card application — a claim Khalil firmly denies. Khalil was arrested on March 8 at his Manhattan apartment in connection with his participation in the campus demonstrations. Khalil says he did nothing wrong and did not hide anything on his green card application. He told the court he only did a university-approved internship with the United Nations Relief and Works Agency, and was not an officer, as the government claims. Khalil was not arrested during the Columbia protests and has not been accused of any crimes. His public presence at the demonstrations drew attention from critics and the White House, which accused him of 'siding with terrorists' without providing evidence.
Time of India
17 minutes ago
- Time of India
Israel-Iran News Live Updates: Iran FM says ready to 'consider' diplomacy 'once the aggression is stopped'
US President Donald Trump claimed that the United States had taken "complete and total control of the skies over Iran." He further warned Iran's Ayatollah Khamenei saying that "We know exactly where the so-called 'Supreme Leader' is hiding. He is an easy target, but is safe there - We are not going to take him out (kill!), at least not for now. But we don't want missiles shot at civilians, or American soldiers. Our patience is wearing thin. Thank you for your attention to this matter!" The long-simmering tensions between Israel and Iran have exploded into open warfare since Friday, June 13, 2025, marking an unprecedented period of direct military confrontation. Israel initiated a major campaign of fighter jet and drone strikes across Iran, targeting nuclear and military sites, including surface-to-surface missile production facilities, detection radar sites, and surface-to-air missile launchers. Reports indicate strikes on residential areas and fuel depots, with Iran's health ministry reporting at least 224 fatalities and over 1,200 injuries, mostly civilians. Israeli forces have also reportedly killed several top Iranian military commanders and atomic scientists. The IDF claims to have destroyed one-third of Iran's surface-to-surface missile launchers and achieved "full air superiority over Tehran," also striking an Iranian refueling aircraft 2,300 km away. In retaliation, Tehran has launched barrages of missiles and drones, hitting Israeli cities and towns, causing at least 24 deaths and 592 injuries, with a major oil refinery in Haifa among the targets. The IDF confirmed intercepting over 100 Iranian UAVs. The international community, including China, Turkey, and G7 leaders, has urgently called for de-escalation, but both sides remain defiant. Israeli Prime Minister Benjamin Netanyahu asserts the offensive aims to thwart "existential" nuclear and missile threats and has not ruled out targeting Iranian Supreme Leader Ayatollah Ali Khamenei, suggesting it would "end the conflict." The UN's IAEA reported physical damage to an above-ground component of Iran's Natanz uranium enrichment facility but normal external radiation levels, while warning of potential internal contamination. Amidst the crisis, planned nuclear negotiations between Tehran and Washington were called off.
Indian Express
31 minutes ago
- Indian Express
Europeans' meeting with Iranian foreign minister yields hope of more talks
A meeting between Iran's foreign minister and top European diplomats on Friday yielded hopes of further talks but no indication of any immediate concrete breakthrough, a week after the crisis centered in the Iranian nuclear program erupted into war between Israel and Tehran. Foreign ministers from Britain, France and Germany, as well as the European Union's foreign chief, emerged from talks at a Geneva hotel about 3 1/2 hours after talks with Iran's Abbas Araghchi started. It was the first face-to-face meeting between Western and Iranian officials since the start of the conflict. 'We leave the room with the impression that the Iranian side is fundamentally ready to continue talking about all important issues,' German Foreign Minister Johann Wadephul said. British Foreign Secretary David Lammy said that 'we are keen to continue ongoing discussions and negotiations with Iran, and we urge Iran to continue their talks with the United States.' Lammy traveled to Geneva after meeting in Washington with U.S. Secretary of State Marco Rubio and President Donald Trump's Mideast envoy, Steve Witkoff. Trump has been weighing whether to attack Iran by striking its well-defended Fordo uranium enrichment facility, which is buried under a mountain and widely considered to be out of reach of all but America's 'bunker-buster' bombs. He said Wednesday that he'll decide within two weeks whether the US military will get directly involved in the war given the 'substantial chance' for renewed negotiations over Tehran's nuclear program. Israel says it launched its airstrike campaign to stop Iran from getting closer to being able to build a nuclear weapon. Iran and the United States had been negotiating over the possibility of a new diplomatic deal over Tehran's program, though Trump has said Israel's campaign came after a 60-day window he set for the talks.
