The team behind the Trump memecoin is assuring fans that they do not have to spend more than $300,000 to stand a chance to qualify for an invitation to an exclusive dinner with the president.

After the release of the "Dinner with President Trump" contest, rumours started to circulate on social media and crypto forums that participants would $300,000 to qualify for an invitation to the exclusive event.

$400 dollars is all you need to win a chance to have dinner with the President

The speculation comes after some community members noted that the 220th largest wallet, which appears to be the cutoff for dinner eligibility, held approximately $300,000 in tokens.

This led to the assumption that such a huge investment was needed to qualify for the event, sparking backlash that the event was secretly designed to be exclusively for its wealthiest holders.

But in a statement on X, the $TRUMP team clarified that the eligibility for the dinner is determined solely by a time-weighted average of $TRUMP tokens balances held by registered users on the official leaderboard throughout the contest period.

Hence, the leaderboard ranking, which was mistook as the benchmark, was an inaccurate metrics, because the ranking included locked tokens, exchange holding and wallets not participating in the contest.

The post adds that based on just the $TRUMP tokens balances, the 220th ranked participant held just $400 worth of TRUMP memecoin, not the six-figure some have feared. Basically, the draw is open to anyone and everyone, the Trump team said.

The contest, which promises the top 220 $TRUMP holders a seat at a private gala dinner with President Trump at his Washington, D.C. golf club on May 22, has sent the token’s price soaring by more than 50% and reignited debate over the intersection of crypto, politics, and access.

The top 25 holders will receive additional perks, including a VIP reception and a special White House tour the following day. All attendees must pass background checks, and no guests are allowed, according to the event rules.

The $TRUMP team also announced that tokens from upcoming unlocks and daily distributions will remain locked for an additional 90 days, extending beyond the competition’s end.

They teased future contest features, reiterating that “the field is wide open and it’s anyone’s opportunity to have Dinner with President Trump.”

Campaign drawing criticism from lawmakers

The campaign has drawn sharp criticism from lawmakers and ethics experts, with some calling for a federal investigation into whether the contest constitutes “pay-to-play” access to the presidency.

Senators Adam Schiff and Elizabeth Warren have formally requested an ethics inquiry, arguing that the dinner offer blurs the line between political influence and personal financial gain.

Critics point to the coin’s price surge and the nearly $900,000 in trading fees reportedly earned by Trump and his allies in just two days following the announcement.

Meanwhile, Trump Media and Technology Group continues to expand its digital asset footprint, announcing a partnership with Crypto.com and Yorkville America Digital to launch a suite of exchange-traded funds under the Truth.Fi brand.

These ETFs will blend exposure to cryptocurrencies and U.S.-centric equities, with up to $250 million in company capital allocated to the initiative.

The $TRUMP dinner contest highlights a broader trend in the crypto space, where tokens are increasingly being used not just for speculative trading, but as tools for identity, access, and community engagement.

As the lines between finance, fandom, and politics continue to blur, the role of digital assets in political campaigns and fundraising is likely to face even greater scrutiny in the months ahead.