President Donald Trump is under scrutiny following his announcement of a private dinner for the top 220 holders of his $TRUMP cryptocurrency. The event is scheduled for May 22 at Trump National Golf Club, with the top 25 investors also invited to a VIP reception and a White House tour. Attendees are required to provide their legal name, contact information, and wallet address. Democratic Senators Elizabeth Warren and Adam Schiff have called on the Office of Government Ethics to investigate whether the dinner constitutes 'pay-to-play' corruption. They cite concerns that the offer of exclusive access to the president in exchange for significant investment in the coin could breach federal ethics laws. The senators also highlighted risks that foreign investors, including a reported $13 million purchase through a Chinese-linked crypto exchange, could use the token to gain influence without public disclosure. The $TRUMP coin's price rose from about $12 to $15.2 following the dinner announcement, with a spike of up to 60% in value and market capitalization increasing from $1.6 billion to over $3 billion in a week, before plunging 18% the next day. Onchain data shows large holders accumulating the token, and a wallet linked to the Trump team recently transferred approximately 1.35 million $TRUMP tokens, valued at nearly $20 million, to Binance, OKX, and Bybit. Launched in January, the $TRUMP coin has generated an estimated $350 million to $550 million in sales. The Trump Organization and affiliates reportedly hold 80% of the token supply. President Trump has called the coin 'the greatest of them all.' His broader involvement in the cryptocurrency sector includes ventures such as World Liberty Financial, which is launching a stablecoin, and policy changes that have included dropping SEC lawsuits against crypto firms and authorizing a strategic bitcoin reserve.