Trump to Host Exclusive Luncheon for Memecoin Holders Amid Legal Tensions

President Donald Trump is scheduled to host a private gathering at his Mar-a-Lago estate in Florida for up to 297 of the largest holders of the 'Official Trump' (TRUMP) memecoin. The event, which repeats a similar gathering from May 2025, is expected to draw a variety of industry leaders, including Tether CEO Paolo Ardoino, Upbit founder ChiHyung Song, and Bitcoin advocate Anthony Pompliano. However, the guest list remains clouded by legal friction. Justin Sun, the founder of Tron and the top holder of the TRUMP token with 2.4 billion points, has not confirmed his attendance. Sun recently initiated a lawsuit against World Liberty Financial, the crypto platform co-founded by the President's sons, alleging that his tokens were frozen and threatened with destruction without proper justification. Eric Trump has publicly dismissed the litigation as 'ridiculous.' The luncheon has sparked significant backlash from lawmakers and ethics watchdogs. The nonprofit Citizens for Responsibility and Ethics in Washington has criticized the event, suggesting that the President is dangling access to the office for financial gain. They further noted that the structure of the token allows for profits through trading fees regardless of the asset's overall value. Market performance for the TRUMP token has been poor. Since its launch in January 2025, the asset has plummeted more than 93% from its all-time high of approximately $45, currently trading at under $3.