President Donald Trump will welcome hundreds of cryptocurrency investors to his Mar-a-Lago resort in Palm Beach, Florida, this Saturday for his second annual digital coin competition, even as his $TRUMP cryptocurrency has lost 96% of its value since reaching its highest point.
The exclusive gathering will bring together 297 of the largest $TRUMP token holders who entered the competition, attending what Trump has described as the world’s “most exclusive” cryptocurrency and business conference. The president will deliver the main speech, while the top 29 participants will join him for a private VIP reception with champagne.
The event highlights Trump’s continued blending of presidential responsibilities with his family’s expanding cryptocurrency business interests, creating what government ethics specialists describe as an unprecedented situation in modern politics. This convergence has become more notable as Trump’s personal digital asset wealth has grown substantially while he simultaneously influences national cryptocurrency regulations.
Although many individual investors who bought the token when it launched have watched their profits vanish, the Trump family and related organizations have maintained their earnings from the broader digital currency market.
A Reuters investigation revealed the family has collected over $1 billion from cryptocurrency asset transactions, including at least $336 million connected to meme-coin transactions in just the first six months of 2025, with potentially billions more in unrealized profits.
White House spokesperson Anna Kelly addressed the concerns, stating: “President Trump’s assets are in a trust managed by his children. There are no conflicts of interest.” Kelly emphasized that the president “only acts in the best interests of the American public.”
Similar ethical questions arose from last year’s meme coin competition at Trump’s golf facility near Washington, D.C., and a February conference at Mar-a-Lago organized by the president’s sons, Eric and Don Jr., for World Liberty Financial, the Trump family’s most profitable crypto enterprise. That event attracted prominent figures from both Washington and Wall Street.
Competition standings were determined not just by $TRUMP holdings but also by purchases of Trump-branded products including sneakers, watches, and fragrances between March 12 and April 14. Winners will receive Trump-branded prizes such as a commemorative poster, trading cards, a “Fight Fight Fight Red Beauty” watch, and fragrance.
The $TRUMP token currently trades near its lowest levels ever. When the competition ended earlier this month, $TRUMP closed at $2.81, a dramatic fall from its $75 peak shortly after its January 2025 introduction.
The 297 qualifying participants collectively hold approximately $29 million in $TRUMP tokens, according to cryptocurrency analytics company Nansen, significantly less than the $148 million Reuters reported they possessed for the first contest in May 2025.
“The contrast with last year’s launch is stark,” according to Nansen’s analysis prepared for Reuters. During the initial launch, investors accumulated and maintained their positions, helping drive a sustained price increase. “The 2026 contest generated a moment of activity, but not the same conviction we saw in 2025. Demand just isn’t sticking.”
Meme coins represent a category of cryptocurrency without practical utility or inherent value, drawing their worth from internet trends and viral cultural movements. Most display steep price patterns, typically rising rapidly in early stages before experiencing sharp declines.
Blockchain records show that cryptocurrency billionaire Justin Sun owns one of the largest $TRUMP wallets and claimed first place in the contest for the second year running.
Sun, recognized as one of the biggest known investors in World Liberty, filed a lawsuit against the company Tuesday, claiming it froze his investments. Investors have expressed frustration with the venture, describing it as lacking transparency, heavily controlled, and unresponsive to their concerns.
World Liberty co-founder and CEO Zach Witkoff, son of Trump administration special envoy Steve Witkoff, responded to the lawsuit through social media, calling it “meritless” and accusing Sun of “misconduct that required World Liberty to take action to protect itself and its users.”
Sun has not responded to requests for comment.
