As US president Donald Trump left the stage at his golf club near Washington, DC, on Thursday night, he pointed to the crowd, brought his index finger to his temple—as if to say: You know what’s coming—then began to dance. To the beat of “Y.M.C.A” by The Village People, Trump shimmied, gyrated, and pumped his arms above his head.
Looking on were more than 200 people who had been invited to the Trump National Golf Club for a private gala dinner. They had won their seats by purchasing large quantities of Trump’s own crypto coin—TRUMP—some holding millions of dollars’ worth.
Courtesy of Sky/LuckyFuture.ai
On the menu for the evening was pan-seared halibut with a citrus reduction, a filet mignon with demi glaze—and, the attendees hoped, a chance to speak to the US president. Four of the guests agreed to tell WIRED about their experience.
By late afternoon, the dinner guests had started to filter through the gates of the golf club. By comparison to Trump’s previous banquets, thronging with DC insiders and members of the Silicon Valley elite, the crypto dinner attracted a mismatched collection of oddballs: independent traders rubbed shoulders with crypto executives, die-hard Trump fans, and even professional sports stars—former NBA player Lamar Odom towered overhead. A handful wore bowties in Bitcoin orange; others sported gold Trump sneakers.
Just after 7 pm, the dinner guests gathered at the window to watch Trump descend in Marine One, his presidential helicopter. A short while later, he appeared from behind a blue velvet curtain to whoops and applause from the crowd. Had they seen the helicopter, Trump asked. “Yeah, super cool!” somebody yelled.
From behind a lectern at one end of the dining room, backdropped by four US flags, Trump delivered a characteristically winding and digressive speech that sources say lasted around 25 minutes. At some point, he got round to crypto.
“We’ve got some of the smartest minds anywhere in the world right here in this room,” said Trump. “You believe in the whole crypto thing. A lot of people are starting to believe in it … This is really something that may be special—who knows, right? Who knows—but it may be special.”
When Trump first promoted his memecoin in January, three days before the inauguration, the limited amount released into circulation rose in value to $14 billion. The remaining 80 percent of the supply is controlled by CIC Digital LLC—a subsidiary of a conglomerate owned by the Trump family—and Fight Fight Fight LLC, formed by longtime Trump ally Bill Zanker. With little more than a social media post, Trump had added billions of dollars to his paper net worth. (The value of the circulating coins has since slumped to roughly $3 billion.)
The team behind the TRUMP coin announced the presidential dinner for the top 220 holders on April 23, promising the top 25 a close-quarters reception with Trump. The attendees would be selected based on who had held the most coins and kept them the longest between the announcement date and May 12, the website explained.