Donald Trump Hosts Winners of Crypto Contest at Mar-a-Lago Amid Decline in His Digital Coin

Trump Hosts Meme Coin Contest Amid Scrutiny Over Crypto Ventures

Palm Beach, Florida - U.S. President Donald Trump hosted the winners of his second annual meme coin contest at his Mar-a-Lago club in Palm Beach, Florida, on Saturday. The event featured the 297 largest $TRUMP token holders, who attended a gathering billed as the "most exclusive" crypto and business conference in the world. Trump gave the keynote address and met with the top 29 winners at a "special VIP reception and champagne toast".

The gala took place as scrutiny of the Trump family's broader crypto ventures has intensified, with Democratic leaders calling for investigations. Trump's appearance at the event was not open to the public, but he later told reporters that he felt an "obligation" to support the crypto industry. "As a president, I have to be able to make sure that all of our industries do well," Trump said. "Crypto is a big industry, it's actually become somewhat mainstream."

Despite the token's value having plunged more than 95% from its peak last year, the Trump family and affiliated entities have continued to profit from the broader crypto ecosystem. A Reuters examination found that the family has taken in more than $1 billion from crypto asset sales, including at least $336 million tied to meme-coin sales in the first half of 2025 alone.

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The contrast with last year's launch is stark, according to a Nansen analysis. When it was launched, buyers accumulated and held the token, helping fuel a sustained rally. "The 2026 contest generated a moment of activity, but not the same conviction we saw in 2025. Demand just isn't sticking."

Among the top $TRUMP wallets is one linked to crypto billionaire Justin Sun, who finished first in the contest for the second consecutive year. Sun, one of the largest publicly known investors in World Liberty, sued the company on Tuesday, alleging that it froze his holdings. Investors have grown frustrated with the venture, saying it is opaque, tightly controlled and unresponsive to complaints.

The Trump family's crypto ventures have raised concerns among ethics experts, who say that the president's personal crypto wealth has ballooned as he reshapes U.S. crypto policy. The White House has maintained that there are no conflicts of interest, with President Trump's assets being managed by his children in a trust.

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