The cryptocurrency industry’s lovefest with MAGA reached a pinnacle Thursday when President Trump hosted the top buyers of his memecoin at his golf club outside Washington.

Trump held a private gala with over 200 of the highest-paying customers of his personal cryptocurrency, some of who said they were looking forward to influencing the president on policy

Moo Deng, which is based on a baby pygmy hippo, has risen to a $230 million market cap this month after the meme went viral online in 2024. The token skyrocketed over 836% in May and jumped another 21% over the past 24 hours.

More companies are announcing plans to buy cryptocurrencies to help lift their share prices.

Trump administration critics have called attention to the likelihood that a substantial number of attendees are foreign investors, suggesting that Trump’s memecoin venture could serve as an avenue for foreign interests to attempt to influence White House policymaking and purchase access to administration officials.

Memecoins have been a part of the cryptoasset ecosystem virtually ever since the asset class achieved mass market awareness and appeal during 2017-2018. While most memecoin projects have been revealed,

As President Donald Trump headed over to his Virginia golf course for a gala with the 250 top buyers of his $TRUMP “memecoin,” Democrats are trying to find ways to push back on the president’s incursions in the cryptocurrency market.