A top House Democrat has launched an inquiry into Trump’s lucrative meme coin venture, questioning whether foreign money flowed into the president’s pockets.
U.S. President Donald Trump is once again at the center of controversy as a top House Democrat demands answers about a private dinner he hosted for major investors in his Official Trump (TRUMP) memecoin, raising fresh questions about ethics and potential foreign influence.
Rep. Jamie Raskin, the ranking Democrat on the House Judiciary Committee, sent a letter Wednesday night pressing Trump to reveal who attended last week’s exclusive event, The Washington Post has learned. Raskin reportedly also wants details on how the funds were vetted, citing fears that foreign governments or illicit actors could be behind some purchases.
“Publication of this list will also let the American people know who is putting tens of millions of dollars into our President’s pocket so we can start to figure out what — beyond virtually worthless memecoins — they are getting in exchange for all this money.”
Jamie Raskin
The dinner, held at Trump’s Virginia golf club, rewarded the memecoin‘s top 220 holders, a perk that ethics experts say blurs the line between his business and political roles. Unlike campaign fundraisers, the profits went straight to Trump-linked companies, not political groups, blockchain forensic firms reported earlier.
Honored to support @POTUS and grateful for the invitation from @GetTrumpMemes to attend President Trump’s Gala Dinner as his TOP fan!
As the top holder of $TRUMP, I’m excited to connect with everyone, talk crypto, and discuss the future of our industry. 🇺🇸 https://t.co/FYb39LTwDz
— H.E. Justin Sun 🍌 (@justinsuntron) May 20, 2025
One notable attendee was Justin Sun, founder of blockchain ecosystem TRON, who bragged on X about being the memecoin’s biggest buyer. Sun has a history of legal trouble as the U.S. Securities and Exchange Commission accused him of market manipulation in 2023, though the case stalled after Trump took office. The White House insists there’s no conflict.
