Former U.S. President Trump plans to host two cryptocurrency dinners in May, sparking questions about his conflicts of interest. Previously, Massachusetts Senator Elizabeth Warren and other senators jointly wrote a letter to federal officials, asking them to deal with the conflict of interest issues surrounding Trump's meme currency, arguing that there were risks of bribery and corruption.

Trump announced on social media that he will host the major financiers of the TRUMP meme coin at a dinner in Washington at the end of this month. The dinner was planned by MAGA and attended by crypto czar David Sacks. The dinner was designed to raise money for the MAGA company's super PAC, with seats selling for as much as $1.5 million, making it one of the most expensive political fundraisers in recent memory.

Meanwhile, the $TRUMP meme coin extravaganza attracted a large amount of trading in the token, with the price surging by more than 50% after the announcement. Trump and NBC News reporter Kristen Welker had a heated argument over conflicts of interest. Welker pointed out that $TRUMP token holders have access to Trump, such as Justin Sun, who is a major investor in World Liberty Financial, a DeFi project supported by the Trump family, and one of the largest holders of the token.

Trump disagreed with this, saying that he was not clear about the value of the token and the price of the currency was not important. He also hit back, saying that politicians including Warren and Pelosi also profited from stock investments. According to data from the $TRUMP project website, approximately 80% of the $TRUMP supply is controlled by the Trump Organization and its affiliates. Chainalysis data shows that since its launch in January, about $325 million in transaction fees have flowed to insiders through the built-in mechanism.