Trump’s Crypto Dinner: A New Hustle Echoing the Trump University Scam, Critics Say
By The Haitian Pulse Editorial Team
May 24, 2025
As the red carpet rolled out at Trump National Golf Club in Sterling, Virginia, and attendees clinked glasses over their $100,000 Trump-branded watches, critics across the political spectrum were already ringing the alarm bells. President Trump’s much-publicized “Crypto Dinner” — an exclusive event for top buyers of his $TRUMP meme coin — may have been dressed in gold, but many see it as the latest chapter in a long history of self-enrichment schemes cloaked in populist marketing.
The former president’s promotion of the $TRUMP token — a meme coin with no utility and no road map — culminated in a glitzy dinner reportedly attended by over 200 investors who spent millions to earn a seat at the table. Yet for observers familiar with Trump’s business playbook, the affair wasn’t innovative; it was hauntingly familiar.
Déjà Vu for the Duped: Critics Draw Parallels to Trump University
To critics, this crypto gala echoes the scandalous story of Trump University — a now-defunct for-profit “school” that promised ordinary Americans the secrets to real estate success, only to leave thousands out of pocket. The university operated from 2005 to 2010 and was aggressively marketed using Trump’s image and claims of personal involvement. It cost participants tens of thousands of dollars for access to so-called mentorships and “elite programs,” many of which turned out to be generic seminars or recycled advice.
By 2013, Trump University was the target of multiple lawsuits, including one from the New York Attorney General who called it “straight up fraud.” In 2016, Trump agreed to pay a $25 million settlement to former students — without admitting wrongdoing.
“Trump has a pattern of exploiting people's hopes and selling them a fantasy,” said Norman Eisen, a former ethics czar under the Obama administration. “Whether it’s real estate education or digital currency, the playbook hasn’t changed — only the packaging has.”
From "You're Gonna Be Rich" to “HODL for Trump”
This time around, the pitch is digital. Instead of real estate blueprints, it’s tokens and slogans. Investors in the $TRUMP meme coin were promised exclusive access and an opportunity to “be part of history.” The dinner was billed as a “once-in-a-lifetime” evening — with promises of proximity to Trump, limited-edition merchandise, and status in a burgeoning crypto movement.
But attendees reported a lackluster event where Trump gave a brief speech, offered no meaningful crypto insights, and disappeared behind closed doors with high-tier guests. “It was more about buying clout than engaging with crypto,” one anonymous investor told New York Magazine. “The whole thing felt like a Trump NFT, but in person.”
Critics were quick to pounce. The Lincoln Project mocked it as “a vanity coin gala for the gullible,” while legal experts questioned whether Trump’s promotion of the coin — which could be seen as a financial asset — blurs the line between campaign fundraising and personal enrichment.
A Familiar Face in a New Hustle
To those who remember Trump Steaks, Trump Vodka, Trump Casinos, and Trump University, this new endeavor is hardly surprising. But the concern is greater now, especially as Trump remains a dominant political figure.
“What we’re seeing is an unrepentant grifter,” said Barbara McQuade, a former U.S. Attorney. “Trump has always tested the boundaries of legality, ethics, and shameless self-promotion. But using political fame to push a worthless cryptocurrency takes it to a dangerous new level — especially when so many Americans are financially vulnerable.”
Crypto or Campaign Cash?
Trump’s camp insists the $TRUMP coin and associated events are completely separate from his 2024 campaign, but watchdog groups are skeptical. “Anytime you see someone monetizing access, especially a political figure, it raises red flags,” said Robert Maguire of Citizens for Responsibility and Ethics in Washington (CREW). “He’s making money off the aura of the presidency — again.”
Others point out that Trump is tapping into a particular demographic: frustrated, financially anxious Americans eager for a quick win. Just as Trump University lured thousands with the promise of financial freedom, $TRUMP coin investors are being sold the illusion of wealth — all tied to Trump’s name.
“Trump knows exactly who he’s selling to,” said Rashad Robinson, president of Color of Change. “People who feel left behind, who think Trump can give them a leg up. But he’s not lifting them — he’s leveraging them.”
A Warning from the Past
As the glitter fades from the crypto gala, the message from critics is clear: history is repeating itself. Trump’s ventures often begin with a bang, bask in media attention, and end with lawsuits or mass disappointment. From Atlantic City to altcoins, the consequences are almost always felt most by the everyday person who believed the hype.
For those in the Haitian and broader Black diaspora watching from afar, this story is not just about Donald Trump — it’s about the broader dangers of charismatic leaders who use identity, loyalty, or desperation to build their own empires. In a world already full of exploitation, vigilance must remain high.
The Haitian Pulse will continue to track how the $TRUMP token saga unfolds, and whether more victims — or lawsuits — emerge from this crypto spectacle dressed in red, white, and gold.
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