Quick overview

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President Donald Trump is hosting two dinners with a crypto theme: one for wealthy political donors and the other for meme coin millionaires. Both have the potential to bring in millions for him. The first event, one of the most expensive political fundraisers in recent history, is scheduled for Monday and will cost $1.05 million per plate.

The dinner provides holders of the $TRUMP token, rather than cash, access to Trump’s inner circle, and MAGA Inc. is the host.

David Sacks, a special guest at the May 5 “Crypto and AI Innovators Dinner,” has been working to revise the nation’s laws regarding artificial intelligence and cryptocurrency. MAGA, the committee that received the funds, is a super PAC that backs Trump, even though the president isn’t allowed to run for a third term under the Constitution.

The PAC is holding several dinners to raise millions of dollars, but it remains unclear how it will use those funds.

The cryptocurrency community has applauded Sacks’ increasing power in Washington, praising him and other Trump-aligned appointees for a significant policy shift that has already led to several regulatory victories for various federal agencies. Many business leaders characterize this change as a 180-degree turn from President Joe Biden.

The second gala dinner will take place at Trump National, his private club, in Washington, D.C., later this month. $ TRUMP meme token will determine the guest list.

Users are admitted based on the number of tokens they possess rather than their cash, and the top 220 are guaranteed dinner with Trump.