Daily SumUp

US President Donald Trump will host top purchasers of the cryptocurrency that bears his name at a gala dinner on Thursday.

$TRUMP was launched shortly before his inauguration in January, initially rocketing in value before falling sharply shortly afterwards.

"It's fundamentally corrupt -- a way to buy access to the President," Democrat senator Chris Murphy wrote on X, one of a number of people to question the ethics of the event.

Some have also suggested the expected attendance of many foreign investors poses a threat to national security.

But the White House has batted away such allegations, saying Trump is only motivated by public service