Slotkin, Schiff, Press Trump Administration on Meme Coin Dinner, Latest Turn in Playbook of Self-Enrichment 

Event Features Top Investors in the $TRUMP coin, President Trump Stands to Profit 

WASHINGTON, D.C. – U.S. Senator Elissa Slotkin (D-MI) joined an effort led by Senator Adam Schiff (D-CA) to demand answers for the Trump Administration’s “The Most Exclusive Dinner in the World,” an upcoming gala for investors of the $TRUMP coin, yet another way the President has managed to enrich himself further through public office. 

“President Trump’s continued monetization of his name and likeness once again raises serious ethical concerns, necessitating this request for a robust inquiry into the President’s financial entanglements and personal profiteering while costs for the American people continue to climb,” the Senators wrote.   

The event, scheduled to be held on November 22, offers the 185 largest holders of the $TRUMP meme coin a dinner and private meet and greet with the President. The event follows reports that Trump earned roughly $636 million in 2025 from his meme coin and related events. Other reporting found that more than half of the top 100 holders used crypto exchanges that bar U.S. customers, which suggests that many of these investors live overseas, additionally raising conflict-of-interest concerns about foreign participation. 

“With the President poised to grow his financial holdings as a direct result of the November 22, 2026, gala dinner – particularly as American families suffer rising costs – it is incumbent upon the administration to answer to the American people about the President’s involvement in and profits from the upcoming event,” the Senators continued. 

The Senators are pressing for answers on whether the White House Counsel’s Office or a designated ethics official was consulted before the president’s participation in the event and VIP reception was announced, and what safeguards exist to keep attendees who get private access to him from using it to seek official executive action. They also ask how the White House will confirm that token purchases, including those from foreign wallet addresses or offshore exchanges, do not violate the Foreign Emoluments Clause of the Constitution. Finally, they ask how much revenue the president and his family could expect to gain from trading activity leading up to November 22. 

This inquiry is also signed by U.S. Senators Richard Blumenthal (D-CT), Senate Democratic Whip Dick Durbin (D-IL), Catherine Cortez Masto (D-NV), Kirsten Gillibrand (D-NY), Lisa Blunt Rochester (D-DE), Chris Van Hollen (D-MD), and Elizabeth Warren (D-MA). 

See below for the full text of the letter, also available here. 

Dear Ms. Wiles: 

We write requesting answers regarding $TRUMP Coin Club’s recently announced gala dinner with President Trump scheduled for November 22, 2026, at TRUMP National D.C. As advertised, the event invites top investors in the President’s meme coin to a dinner and reception where attendees will receive gifts and hear directly from the President. Top $TRUMP coin holders will be determined via a formula described simply as “the more you hold and the longer you hold…the higher you climb.” This dinner and scoring mechanism appear carefully constructed to increase investment in $TRUMP, allowing the President to abuse the power of his office to personally enrich himself, as he has throughout this term. President Trump’s continued monetization of his name and likeness once again raises serious ethical concerns, necessitating this request for a robust inquiry into the President’s financial entanglements and personal profiteering while costs for the American people continue to climb. 

The November 22 event, marketed as “The Most Exclusive Dinner in the World,” invites the top 185 $TRUMP holders to a dinner and private meet and greet with the President, along with three to four undisclosed “legends.” Event attendees are expected to receive a TRUMP Fragrance, a Commemorative Poster, a Commemorative Trading Card, and a Fight Fight Fight Watch. The Top 29 $TRUMP holders are separately invited to a VIP reception and will also be gifted a TRUMP 18k Gold Watch. No ticket price has been set for the event, but $TRUMP Coin Club’s online Gala Dinner Leaderboard indicates that the top investor has over $915,000 in holdings. 

Notably, reporting reveals that over half of Trump’s top 100 meme coin holders have utilized crypto exchanges that prohibit U.S. customer participation, which indicates that many investors are based overseas – raising concerns about the potential conflicts of interest associated with a high degree of foreign participation at an event with the President.5 Overall, the competitive framework for the event, as indicated by the public leaderboard, appears to be a pay-to-play scheme designed to reward the President’s wealthy allies and con the President’s supporters while lining his pockets directly. 

As indicated in an April 2026 letter to Fight Fight Fight LLC, there is no disputing that the President financially benefits from the market value and activity of the $TRUMP cryptocurrency. In 2025 alone, the President earned roughly $636 million from his meme coin and associated events. Concurrently, the cryptocurrency analytics firm Nansen reported in July 2026 that roughly 1 million individuals who purchased $TRUMP collectively lost $3.81 billion through the end of June 2026. Nansen’s report attributes these losses to over 988,905 $TRUMP meme coin buyers. With the President poised to grow his financial holdings as a direct result of the November 22, 2026, gala dinner – particularly as American families suffer rising costs – it is incumbent upon the administration to answer to the American people about the President’s involvement in and profits from the upcoming event. 

The duty of a President is to serve the public interest, not to grow their or their family’s personal wealth or bolster their business relationships. The American public deserves transparency and assurance that the President is using the power of his office to solve our country’s most urgent issues, not to improve his own financial position. As such, we request a formal briefing by November 6, 2026, into the President’s financial involvement with the November 22, 2026, Gala Dinner and an accounting of his financial enrichment from growing investments in the $TRUMP meme coin that the dinner appears designed to spur. 

Additionally, we request that you provide written responses to the following questions no later than October 30, 2026: 

1. Was the White House Counsel’s Office or a designated ethics official consulted prior to the public announcement of President Trump’s participation in the November 22, 2026, $TRUMP gala dinner and VIP reception? 

1. Did the White House Counsel’s Office or a designated ethics official provide formal legal or ethics guidance regarding standards of official conduct, public trust obligations, or the appearance of conflicts of interest? 

1. What specific protocols and guardrails are in place to ensure that attendees of the November 22 event who gain private access to the President do not use the event to solicit official executive actions, policy changes, or regulatory reprieves? 

1. Will White House officials or any Executive Branch personnel be present during the November 22 event, including the private meet-and-greet and VIP reception? 

1. What specific security vetting will the Executive Office of the President and Secret Service perform on top leaderboard qualifiers before granting them entry to the November 22 event? 

1. Are representatives from foreign corporations, foreign governments, or state-aligned entities permitted to attend the November 22 event if they qualify on the $TRUMP leaderboard? If so, what specific protocols exist to prevent foreign actors from using anonymous crypto accumulation to effectively purchase private access to the President? 

1. How will the White House verify that token purchases driving leaderboard rankings, including those originating from foreign wallet addresses or offshore exchanges, do not violate the Foreign Emoluments Clause of the U.S. Constitution? 

1. What is the total estimated revenue President Trump and his family-held entities stand to derive directly or indirectly from the trading activity generated by the leaderboard contest leading up to November 22? 

1. Will the White House commit to publishing a complete, unredacted log of all event attendees, including corporate or foreign affiliations, within 10 business days following the November 22 event? 

We further request that you preserve all records and communications relating to the topics addressed in this letter, from January 1, 2025, to the present and continue preserving past and future materials on an ongoing basis. This preservation hold applies to all relevant records within your possession and any person or entity representing or purporting to be acting on your behalf. This includes, but is not limited to, records and communications via email, whether official or personal; mobile devices; encrypted or disappearing messaging applications; social media; calendar entries; meeting notes; and voicemail and text messages. To the extent that you use any auto-delete functions, you should immediately suspend auto-delete functions and notify persons with control over potentially relevant records of similar preservation obligations. 

We look forward to your response. 

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