Donald Trump hosted top memecoin holders at his Mar-a-Lago club in Palm Beach, Florida, on Saturday, where they got a chance to have an in-person meeting with him, despite the coin’s underwhelming performance.

The event, which Trump branded as the “most exclusive” crypto and business conference in the world, is similar to last year’s dinner at his Virginia country club, where he hosted holders of his memecoin.

But circumstances differ: the coin has plunged more than 95% from its peak value.

Crypto billionaire and major investor Justin Sun, who finished first in Trump’s annual memecoin contest for the second consecutive year, has sued a separate Trump-linked crypto business, World Liberty Financial. He alleged the company illegally froze his tokens and threatened to delete his holdings, describing it as “criminal extortion.”

Now, Trump is trying to lure investors in with new benefits, including spots on the Trump Coin leaderboard, which can be obtained by purchasing the memecoin or Trump merchandise, such as sneakers, watches, and fragrances.

The 297 largest $TRUMP token holders who registered for the contest were in attendance. The list included boxer Mike Tyson, American motivational speaker Tony Robbins, and crypto execs. The qualifying winners hold roughly $29 million worth of $TRUMP, which, according to a Nansen analysis prepared for Reuters, is sharply down from the $148 million they held for the inaugural May 2025 contest.

In addition, the top 29 VIPs received a “special VIP reception and champagne toast” with Trump.

Guests were gifted a Trump-branded fragrance, a commemorative poster, and a “Fight Fight Fight Red Beauty Watch”, according to the Washington Post.

“It’s a big industry, and we want to beat China at the industry,” Trump said when explaining why he attended the conference. “We’re leading with crypto, we’re leading with AI.”

He also told reporters that he felt an “obligation” as president to support the crypto industry and lead it to success.

“As a president, I have to be able to make sure that all of our industries do well,” he said.

Trump has been backing the crypto industry since his return to office. Despite the slipping value of his token, which is currently near its all-time low, an investigation by Reuters found that the Trump family is continuously benefiting from the crypto industry.

The examination revealed that the family has taken in more than $1 billion from crypto asset sales, including at least $336 million tied to memecoin sales in the first half of 2025 alone, with potentially billions more in unrealized gains.

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