US President Donald Trump is poised to collect millions of dollars this month through two fundraising events: one targeting political donors, the other tapping into the meme coin millionaires.

The events are organized by MAGA Inc., a super PAC that supports Trump, and are expected to raise substantial funds.

The first event took place on May 5 and featured a US$1.5 million-per-plate dinner with venture capitalist David Sacks.

The second event is scheduled for May 22 at Trump National Golf Club near Washington, D.C. Entry to this event is contingent upon ownership of the $TRUMP meme coin.

🔗 Source: CNBC

🧠 Food for thought

1️⃣ Campaign finance inflation has exploded amid regulatory shifts

The US$1.5 million per-plate dinner reflects a dramatic escalation in fundraising price points over the past decade.

For context, winning a House seat cost candidates an average of US$407,600 in 1990, but has skyrocketed to US$2.79 million in 2022, while Senate races jumped from US$3.87 million to US$26.53 million during the same period1.

This fundraising acceleration correlates with regulatory changes, particularly the 2010 Citizens United decision that removed spending limits on corporations and unions, fundamentally altering the campaign finance landscape1.

The 2020 election cycle saw nearly US$14 billion in total spending, making it the most expensive in US history and establishing a precedent for the unprecedented per-plate costs we’re now seeing1.

This pattern of increasingly expensive political access points to a fundamental shift in how campaigns operate, with high-dollar events becoming normalized despite representing donation amounts that would have been considered extraordinary just a few election cycles ago.

2️⃣ Cryptocurrency has rapidly transformed from political fringe to fundraising mainstream

Trump’s embrace of crypto fundraising represents a significant evolution from traditional campaign finance methods to emerging digital assets.

During the 2017-2018 election cycle, cryptocurrency donations totaled just over US$1.2 million across all candidates, while Trump’s campaign alone has now raised approximately $3 million in cryptocurrency donations this cycle23.

This growth is part of a broader trend, with crypto-focused political action committees contributing US$119 million to federal elections in the current cycle4.