President Trump is scheduled to host winners of his $TRUMP meme coin contest at Mar-a-Lago this Saturday, even as the token’s value has plummeted and his family’s cryptocurrency dealings face increased examination.

Meme Coin Contest and Value Decline

U.S. President Donald Trump is preparing to welcome the 297 largest $TRUMP token holders to Mar-a-Lago in Palm Beach, Florida. The event, promoted by Trump as the world’s most exclusive crypto and business conference, will feature a keynote address from the President.

The $TRUMP cryptocurrency has experienced a dramatic 96% decline in value since its peak last year. A select group of the top 29 participants will also enjoy a VIP reception with a champagne toast alongside the President.

Ethical Concerns and Trump's Crypto Wealth

This event marks the latest instance of Trump combining his presidential role with his family’s cryptocurrency ventures, a combination that ethics experts consider unprecedented. Concerns are heightened by the substantial increase in Trump’s personal crypto wealth while he influences U.S. crypto policy.

Reuters investigations reveal the Trump family has amassed over $1 billion from crypto asset sales, including at least $336 million specifically from meme-coin sales during the first half of 2025, with potentially billions more in unrealized gains.

White House Response and Previous Events

The White House maintains there are no conflicts of interest, stating President Trump’s assets are managed by a trust overseen by his children and all actions are in the best interest of the American public. Spokesperson Anna Kelly conveyed this position.

Similar ethical debates arose from last year’s meme coin contest held at a Trump golf club and a February conference at Mar-a-Lago hosted by Eric and Don Jr. for World Liberty Financial – the Trump family’s most profitable crypto undertaking.

Contest Details and Token Performance

Contest rankings were determined by $TRUMP holdings and purchases of Trump-branded merchandise, including sneakers, watches, and fragrances, made between March 12th and April 14th. Winners will receive Trump-branded items like a poster, trading cards, a watch, and a fragrance.

The $TRUMP token closed at $2.81 when the contest concluded, a significant drop from its peak of $75 in January 2025. The 297 qualifying winners collectively hold approximately $29 million worth of $TRUMP, down from $148 million held by the inaugural contest winners in May 2025.

Nansen Analysis and Justin Sun's Involvement

Crypto analytics firm Nansen notes the 2026 contest generated only a temporary surge in activity, unlike the sustained demand seen during the 2025 launch. Justin Sun, a crypto billionaire, secured first place for the second year running.

Sun, a major investor in World Liberty, recently filed a lawsuit alleging his holdings were frozen, adding to investor frustration regarding the venture’s transparency. World Liberty’s CEO, Zach Witkoff, dismissed the lawsuit as meritless and accused Sun of misconduct.