PALM BEACH — President Donald Trump is slated to headline a cryptocurrency event on April 25 at his Mar-a-Lago club in Florida for top purchasers of his $Trump memecoin. The gathering will feature a luncheon with Trump as keynote speaker, according to promotional materials from Fight Fight Fight LLC, which described it as "THE MOST EXCLUSIVE CRYPTO & BUSINESS CONFERENCE IN THE WORLD."

Only the top 297 purchasers of $Trump coins may attend the event, and the top 29 investors will be invited to a special reception with Trump. The program is slated to feature talks by several crypto entrepreneurs, and Mike Tyson is expected to attend. The memecoin's website states that Trump may not be able to attend, and that if he cannot, the event may be rescheduled or qualifying attendees will receive a limited edition Trump NFT instead.

Trump launched the $Trump memecoin days before his 2025 inauguration. Memecoins are crypto tokens whose value is tied to something that has gone viral on social media rather than to a real-world asset. Last May, he hosted a dinner at his Virginia golf club for 220 purchasers of the memecoin, an event that generated $148 million in revenue. Senators Elizabeth Warren, Richard Blumenthal, and Adam Schiff wrote to Fight Fight Fight LLC expressing concerns about Trump profiting from the April event.

"This is a dangerous conflict of interest and a 'use of public office for private gain' which for any other federal officer or employee would violate the express language of federal ethics rules," said Richard Painter, a law professor at the University of Minnesota and former ethics adviser to President George W. Bush. Painter also said, "This is also payment of money to get access to the president, which meets the original understanding of the meaning of the word 'bribery' that was included in the impeachment clause of the constitution, even if modern federal criminal bribery statutes (eg 18 USC 201) are not violated unless the president agrees to a specific official act in exchange for purchase of his $Trump coin."

White House press secretary Karoline Leavitt said, "Trump is abiding by all conflict-of-interest laws that are applicable to the president." Trump has declined to place his assets in a blind trust or divest from his businesses.

According to an industry report released in February, $TRUMP and $MELANIA erased an estimated $4.3 billion in retail wealth in recent months, with 2 million holders currently underwater, while 45 other crypto wallets that were early holders of $Trump coins had profited by about $1.2 billion. According to Forbes, Trump's crypto ventures have boosted his wealth by at least $3 billion.

"It was clear that, under Trump, the government's regulatory apparatus is keen to look past any and all sins of favored crypto promoters, a group that comprises individuals who have directly benefited the Trump family's financial interests," said Cornell economist Eswar Prasad.