A seat at Donald Trump’s next crypto lunch could cost as little as $70,000. It could also cost more than $6 million, depending on how participants choose to climb the leaderboard that determines entry, even though the token is trading nearly 96% below its peak.
The event, announced last week, will take place April 25 at Mar-a-Lago, Trump’s private club in Palm Beach, Florida. Stake is capped at 297 and is tied to TRUMP memecoin holdings. Wallets are ranked based on “Trump Points,” which reflect token exposure over time. These rankings, rather than simple ownership, determine who is qualified for invitations.
This lunch marks the second such meet-and-greet event with the president, following the announcement of the last dinner in April 2025. That previous dinner prompted Democratic lawmakers to protest and voice concerns about Trump profiting from his own crypto token while simultaneously championing legislation to support the industry and appointing regulators to oversee crypto. These concerns have, in part, delayed current legislation sought by the crypto industry, while US lawmakers are currently trying to advance the Digital Asset Market Clarity Act.
Onchain data shows that participants in this new event are approaching it in very different ways (previously, only the top 220 holders received invitations), and the ranking of these winning wallets provides the clearest example.
Over the past week, the address labeled DNTpoX, currently in first position in the ranking, received over $6 million worth of TRUMP tokens from Binance, including transfers of 1 million and 999,999 tokens over a short period of time, reflecting the majority of its holdings. The trend indicates rapid accumulation, suggesting that the holder has moved up the rankings through recent purchases rather than long-term positioning.
This short-period buying spree aligns with broader business patterns around the token. The ranking rewards both strategies: Wallets that accumulated early and held on during the token’s decline have accrued points over the months, while deep-pocketed laggards can still climb the rankings quickly by deploying capital at scale.
The top 29 ranking holders will attend a private VIP reception with Trump and receive a tour of the event venue, while the remainder will only attend the gala itself.
However, not all entries in the ranking appear to correspond to individual investors.
One of the wallets that appears in the ranking is labeled “Sun”, implying that it could be the portfolio of crypto investor Justin Sun. Although Sun purchased $21 million worth of memecoin last year, on-chain analysis shows that the wallet is flooded with wallet transfers from HTX – an exchange with close ties to Sun. However, the data appears to come from internal portfolio shuffling rather than a single entity owning it. Justin Sun did not respond to CoinDesk’s request for comment.
Further down the ranking, the cost of qualification appears significantly lower.
Based on portfolio balances near the lower end of the top 300 and current prices, some positions are worth tens of thousands of dollars. This places the likely entry threshold around $70,000, although the exact threshold will depend on how the rankings evolve.
This range is well below the multi-million dollar positions at the top, but still represents a significant financial commitment.
What the rankings show is that the rankings reflect a mix of approaches from investors who want to be invited.
Some participants accumulated tokens months ago and held them. Others seem to be creating positions more recently. In some cases, wallets may represent balances linked to exchanges rather than individuals.
Overall, the data suggests that qualification for the event depends not only on volume held, but also on when positions were established and how they are increased.
The TRUMP memecoin team did not immediately respond to CoinDesk’s request for comment.
A familiar but different approach
While invitations to the previous Gala were limited to the top 220 token holders, this time it appears things are slightly different.
Last year’s crypto dinner selected attendees based on token activity, attracting a mix of traders, entrepreneurs and public figures. Reporting by NBC News, CNBC and The Intercept identified participants, including former NBA player Lamar Odom, while many others remained pseudonymous.
Some attendees said they hoped to influence Trump’s views on crypto policy, while critics argued the event blurred the line between financial activity and political access.
Data from Dune and Token Terminal shows that TRUMP generated a huge trading volume in the days following its launch in January 2025, with activity declining sharply afterward. This story shapes the current ranking: wallets that accumulated tokens early, during this period of high liquidity, accumulated Trump Points over months of holding. Newer entrants compete in a smaller market, but large deals can still move rankings quickly, meaning both strategies remain viable.
Where it differs this time is who gets the invitations.
For the new event, Solscan data shows that the largest TRUMP wallets, including those linked to the project team, exchanges and liquidity pools, control the majority of the supply but do not appear in the leaderboard – probably because individual invitations cannot be sent to companies or organizations.
Instead, addresses linked to higher-ranked participants tend to hold much lower total holdings. The wallet ranked third in the ranking, for example, contains around $4 million in tokens and is around 30th in terms of total number of token holders. Another high-ranking participant holds between $4 million and $10 million and is in a similar range.
The group competing for entry appears distinct from the chain’s largest holders and for some participants, these positions were built months ago.
Several prominent wallets show large inflows of TRUMP tokens dating back eight to ten months, typically moving from exchanges such as Binance, OKX, and Gate.io. In many cases, these tokens appear to have been held since.
This suggests that the ranking reflects not only current balances and trading activity, but also duration, giving an advantage to participants who accumulated earlier and maintained their exposure.
However, recent activity shows that positions are not fixed and late buyers can still participate in the leaderboard.
The top-ranked portfolio entries indicate that large purchases can still quickly change the ranking. Participants do not necessarily need to have held tokens from the start, provided they are willing to deploy capital at scale.
The result is a system in which early accumulation and late entry remain viable strategies.
TRUMP is currently trading at $3.70, having gained more than 25% since the gala announcement. It remains significantly lower than when it was introduced last year.
