'Worse than airline food': Crypto investors who paid $1.7m for Trump event furious at meal served

Guests who paid £1.3 million for the 'most elite invite globally' have crowded into the dinner provided at President Trump's gathering for cryptocurrency investors.

Dubbed 'worse than airline food', the black-tie evening was thrown in honour of the 220 buyers behind the US President's official cryptocurrency.

The backers of the 'meme coin' are said to have netted Mr Trump and his family £109million ($148million).

On the menu was 'pan-seared halibut with a citrus reduction, a filet mignon with demi glaze' but Nicholas Pinto said the food 'sucked'.

The 25-year-old - who has self-titled himself as someone who 'does trading' - told Wired 'it was the worst food I've ever had at a Trump golf course' and 'the only good thing was bread and butter'.

The options for drinks were water or Mr Trump's wine, and since he doesn't imbibe, Mr Pinto stuck with water throughout the night.

He mentioned that his glass got topped up just one time.

A crypto blogger, Chris Skinner, similarly critiqued the meal online, posting 'this is what you get served (+ a 25-minute speech from a podium by the numbers with no depth on crypto)'.

Steve Kovach, a CNBC correspondant, said he had eaten 'better food on Spirit Airlines' - a budget travel company in America.

Another guest said the food was 'OK, but not top class' while one user online described the meal as something 'you’d get as a reward in prison for not stabbing anyone all week'.

During Mr. Trump's 2024 presidential campaign, crypto investors were heavily targeted with promises of significant deregulation for the industry.

Democrats and ethics specialists criticized the gathering, saying it was a means for Trump to line his own pockets.

But the president pushed back against the charge in remarks to guests, arguing that Hunter Biden and the Biden family made a fortune off the Oval Office.

In the end, regardless of the situation, I always prioritize the country over the business," he stated, adding, "You can’t say that about Hunter."

Trump highlighted that President Joe Biden's son Hunter was selling artworks for substantial sums: '$500,000 per painting.'

reportedly showed up tardily and delivered unremarkable comments on 'that entire cryptocurrency matter' during his 23-minute address at the gathering, often straying from the main subject.

He wore the blue suit and red tie he had been wearing at the White House all day.

Speaking to his audience, Mr Trump reportedly remarked, "'Some of you folks are into this cryptocurrency stuff. Many people are beginning to get interested in it… It could truly turn out to be quite significant. Who can say for sure though? But it might just be very important.'"

He then told 'some of the smartest minds anywhere in the world' that cryptocurrencies has a 'great, great future'.

His administration was also 'big believers' of the 'cutting edge' industry.

He then left his Virginia golf club after about an hour - before taking any questions from his guests on Thursday.

But the invitation promised the 25 biggest investors special access to the president via a private reception and special White House tour.

'FOR THE TOP 25 COIN HOLDERS, YOU are Invited to an Exclusive Reception before Dinner with YOUR FAVORITE PRESIDENT!,' the event's website reads.

'PLUS, We have separately by us arranged for a Special VIP Tour for you - so make sure you stay in town.'

It is reported that the typical investor has put down around $1.78 million (£1.3 million) into the President's cryptocurrency, which debuted just three days prior to his inauguration, according to claims made by blockchain analysis firm Nansen.

However, heavy investors redeemed over $10 million from their investments, whereas individuals at the lower end chipped in only $100,000.

Justin Sun tops the list with a spend of $22 million on the '$Trump coin'.

In 2023, the cryptocurrency tycoon faced charges related to market manipulation and providing unregistered securities.

These were released in February, just a few weeks after President Trump took office.

A lot of the people investing in cryptocurrencies come from overseas, and it's not clear what sort of background checks were done on them before they could enter the venue.

Many of the guests were anonymous as they bought the currency through pseudonyms, registering with user names to make their purchases.

Some had to navigate a sea of protesters outside of the club, walking through the shouting throngs on their way into the event.

Inside, guests were greeted by a poster featuring Trump in a tux, his fist upheld in his classic fight stance, with the words 'Fight Fight Fight' written in gold.

The official website for the dinner describes it as 'the most exclusive invitation in the world.'

The White House press secretary Karoline Leavitt reassured journalists on Thursday that it was 'absurd for anyone to insinuate this president is profiting off of the presidency 'due to his background in commerce.'

'All of the [resident's assets are in a blind trust, which is managed by his children,' she said in her press briefing.

She dismissed claims that the president was benefiting financially from his position.

The president is adhering to every conflict of interest law pertinent to their position. I believe everyone, including the general American populace, would find it preposterous to imply that this particular president stands to gain financially from holding office. Prior to dedicating themselves fully to serving our nation openly, they were immensely prosperous. Not only have they experienced financial loss since taking office, but they've also risked their life. They’ve made significant sacrifices to get where they are now. To propose anything different is simply ridiculous," she stated.

The TRUMP memecoins are traded on exchange platforms, with the funds not going directly to Trump himself.

However, approximately 80 percent of $TRUMP tokens are owned by entities affiliated with the Trump Organization, which means that as their value increases, so too does the President's financial portfolio.

Trump's digital currency also generates income for these groups merely through exchanges.

With each trade of a $TRUMP token, a transaction fee is applied.

A cryptocurrency analysis company called Chainalysis estimated that the meme coin generated approximately $900,000 in transaction fees during the initial 48 hours after the competition was announced.

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