U.S. President Donald Trump has confirmed plans to attend a private gala for top holders of his TRUMP memecoin at Mar-a-Lago, following earlier uncertainty around his participation.
Summary
- Trump has confirmed he will attend and deliver a keynote at a Mar-a-Lago gala for top TRUMP memecoin holders.
- Entry is limited to the top 297 wallets, with a private reception reserved for the top 29 investors.
According to Reuters, the White House said Trump will deliver a keynote address at the luncheon hosted by the team behind the Official Trump token, settling questions raised earlier this month over whether the event was part of his schedule.
Questions around access and timing resurface
Set for Saturday at Trump’s Florida residence, the gathering will be limited to the top 297 holders of the TRUMP token, while an inner circle of the top 29 investors will gain entry to a private reception with the president.
Earlier remarks from a White House official had left the door open on attendance, noting the event was not locked into Trump’s calendar and fell on the same day as the White House Correspondents’ Association Dinner in Washington, D.C., an event Trump had indicated he would attend.
Event terms have also pointed to uncertainty, stating Trump “may not be able to attend” and that the gathering “may be canceled for any reason.”
Lawmakers have taken issue with the setup, raising concerns over whether access to the president is being tied to financial participation in the token. In a letter sent earlier this month, Democratic Senators Elizabeth Warren, Richard Blumenthal, and Adam Schiff questioned the structure of the event.
“[O]rganizers are promoting a conference by dangling access to President Trump to potential attendees… on a day he may not actually be able to attend,” the letter said.
Token buying intensifies ahead of Mar-a-Lago event
Leading into the luncheon, blockchain data has shown large holders increasing their positions to secure entry. Transfers tracked in recent weeks show multiple wallets accumulating hundreds of thousands of tokens, with some surpassing the 1 million mark.
One investor moved over 105,000 tokens off Binance, bringing total holdings to roughly 1.13 million TRUMP, valued near $3.2 million at the time. Separate withdrawals from Bybit and BitMart added to the concentration, with several whales competing for a spot among the top holders.
Participation in the event has been directly tied to wallet rankings, which have fueled the buying activity despite weaker price action. After reaching $4.35 in March when the event was first announced, the token has since dropped about 33% to around $2.80.
On-chain data has also pointed to a highly concentrated supply. While more than 642,000 wallets hold the token, the top 10 addresses control 91% of the total supply, raising questions about how influence is distributed within the project.
Trump under scrutiny
A similar event held in May 2025 at a Trump golf club followed a comparable pattern. During that period, the token climbed to $15.59 ahead of the gathering before falling back to $8.90 in the weeks that followed.
Criticism around that earlier event centered on whether Trump was leveraging his position for personal financial gain. The upcoming Mar-a-Lago luncheon has drawn renewed attention from lawmakers, some of whom are pushing for tighter rules around political figures and digital assets tied to personal branding.
