Donald Trump, the U.S. president, held an ambitious dinner on the 22nd for high-value investors in the meme coin ($TRUMP) named after himself.

However, due to poor content and food, and even the absence of Trump himself, who left in about 20 minutes, attendees were left dissatisfied.

U.S. media such as CNBC and the Associated Press reported that the meme coin investor dinner held on the 22nd at the Trump National Golf Club in Virginia fell significantly short of expectations in terms of food quality, event management, and interaction time with Trump.

On May 25, U.S. President Donald Trump strolls around the White House during the Memorial Day holiday. /Courtesy of Yonhap News Agency

According to blockchain analytics firm Inca Digital, the total amount of meme coins purchased by 220 attendees to participate in the dinner reached $148 million (approximately 210 billion won).

Trump noted while recruiting people to sponsor the event that it would be 'the most special invitation in the world.'

The top 25 investors invested a total of $111 million (approximately 150 billion won) to gain VIP reception and special tour opportunities with Trump.

However, on that day, Trump spoke for about 20 minutes in front of the 220 attendees before leaving by helicopter. He spent only around 2 to 3 minutes chatting with the top 25 investors. It is reported that Oh Sang-rok, representative of Hyperism, was included among these top 25.

CNBC quoted attendees saying, 'The food provided was terrible and the security was lax,' and noted, 'Many held onto meme coins briefly to participate but sold them after the list was finalized, and they spent the entire evening checking coin prices on their phones instead of networking.'

Generally, dinners hosted by politicians are opportunities for sponsors to network with influential figures in politics or business. Since they contribute large amounts, they often have the freedom to discuss policy directions, take commemorative photos with the host, and hold personal conversations.

On May 22, activists protest against President Trump's cryptocurrency policies near the Trump National Golf Club in Sterling, Virginia. /Courtesy of Yonhap News Agency

For example, the Obama presidential fundraiser dinner hosted by famous actor George Clooney in 2012 had a participation fee of $40,000 (approximately 56 million won), but provided a formal multi-course dinner cooked by renowned chef Wolfgang Puck under an outdoor tent.

The Hindustan Times cited a participant from the dinner, stating, 'Trump filled most of the 20 minutes with stories about his campaign and defeating Biden,' and added, 'He only spoke briefly with the top 25 and hardly communicated with the remaining 220.'

Experts noted that this Trump meme coin dinner diverged significantly from such precedents, making it difficult to escape criticism for being a simple 'face showing' event. Right after the event, the price of $TRUMP plummeted by 16%.

Democratic senators stated they would promote legislation to prevent the sitting president and senior officials from generating revenue through cryptocurrency businesses on the day of the dinner.

According to Chainalysis, 80% of the supply of $TRUMP coins is held by companies controlled by the Trump family or related corporations.

Senator Richard Blumenthal (Connecticut) warned, 'Cryptocurrencies held by Trump family corporations could serve as a conduit for foreign or certain corporate interest group funds to gain indirect access.'