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Today’s Green Deals are being led by ALLPOWERS’ Black Friday sale, which finally launched through Cyber Monday with new low prices on units like the R2500 Solar Generator bundle with a 600W solar panel for $1,499, among others. Continuing coverage of Black Friday appliance deals, we spotted GE’s 2-in-1 Electric Dryer and Ventless Heat Pump Dryer falling in price to $1,750, after spending much of the year above $2,000. There’s also a new low price on Leviton’s Level 2 48A Hardwired EV Charging Station at $559, with its smarter counterpart sitting $77 higher. And bringing up the rear is Jackery’s Explorer 100 Plus Portable Power Station beating out the brand’s direct Black Friday sale to return to the $89 low. Plus, all the other hangover Green Deals are in the links at the bottom of the page, like yesterday’s Lectric XPeak 2.0 e-bike pre-order special, Samsung’s Bespoke all-in-one washer/dryer Black Friday deal, and more.

Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

ALLPOWERS Black Friday sale drops R2500 solar generator with 600W panel to new $1,499 low (Save $700)

ALLPOWERS has begun its official Black Friday event that is taking up to $1,800 off power stations and bundles through December 3. Among the offers we’re seeing several new low prices, like on the R2500 Portable Power Station that comes bundled with a 600W solar panel for $1,499 shipped. Normally this solar generator package would run you $2,199 at full price, with the largest discount we’ve seen this year being a drop to the former $1,559 low back during Amazon’s Prime Day event in October. Now, during this Black Friday event, you can score $700 off its usual going rate at the best price we have seen to date – even beating its Prime Day low by $60. You’ll also find this bundle matching the price over at Amazon.

As we’ve seen with the other Black Friday sales from other brands, there’s some additional savings and free gifts being offered here too. To start, you can get an extra 5% taken off any order of $3,000 to $3,499, with that number increasing to 7% off on orders between $3,500 and $3,999, and up to 10% off once your total hits $4,000 or more (extra savings has not been factored in below). Likewise, when you spend over $1,900 you’ll get a free PB100 24,000mAh Power Bank, while spending over $2,300 gives you a free SP027 100W Portable Solar Panel, and over $3,200 lands you a free SF200 200W Portable Flexible Solar Panel.

Arriving in a sleek and streamlined unit, ALLPOWERS’ R2500 power station delivers a 2,016Wh LiFePO4 battery capacity with 14 output ports that can dish out up to 2,500W of power, peaking at 4,000W. It provides the typical collection of smart controls that you can access through its app alongside four methods of recharging its own battery – AC, solar, auto, and dual AC with solar. Connecting it to a standard wall outlet refills the battery in about 1.3 hours, while utilizing its 1,000W solar input can do the same in two hours time. These times can be cut down to just one hour when connecting both to an AC outlet while using the max solar input too.

There’s a few other great bundle options for this model, as well, with the solo power station starting things at $999, down from $1,599. From there, you can bundle it with a 200W solar panel for $1,179, or go further with a 400W solar panel at $1,359. If you want to expand the unit’s capacity, you can double things to 3,168Wh with an expansion battery for $1,399.

ALLPOWERS 299Wh R600 Black Friday deals:

ALLPOWERS 1,152Wh R1500 Black Friday deals:

ALLPOWERS 3,168Wh R3500 Black Friday deals:

ALLPOWERS 3,456Wh R4000 Black Friday deals:

ALLPOWERS Solar Panel Black Friday deals:

ALLPOWERS Black Friday

GE’s 2-in-1 electric washer/ventless dryer saves space or doubles up for faster laundry duty at $1,750 ($1,150 off)

As part of its ongoing Black Friday sale, Best Buy is offering the GE Profile 4.8 cu. ft. UltraFast Electric 2-in-1 Washer & Dryer with Ventless Heat Pump for $1,749.99 shipped. This ENERGY STAR appliance normally sits at $2,900 most days, with occasional discounts popping up every couple of months over the course of 2024. We’ve mainly seen in keeping above $2,000 during most sales, though we did spot it dropping to the $1,749 low earlier in the year. Today, you’re getting a near-match to its lowest rate at $1,150 slashed from its price tag, coming in as the second-lowest price that we have tracked that lands just $1 above the all-time low.

Scoring this 2-in-1 washer/dryer for your home gives you far more freedom when it comes to your laundry setup, as its ventless heat pump tech, aside from “providing 50% more energy efficient airflow drying,” allows for it to be placed anywhere regardless of any pre-existing vents, saving you space or even allowing you to double up to get through Laundry faster. Complete with the usual smart controls you’d expect, accessed through the SmartHQ app, it will also automatically update itself through your home’s Wi-Fi, and even sends notifications and status alerts to your smartphone. One such example of an update is a recent one that directed its airflow system to separate hair and pet dander from fabrics before the wash cycle begins, collecting it into the EZ Access lint filter (which has saved my girlfriend and her family from plenty of suffering from their allergies since using one).

Another of its standout features is the inclusion of the SmartDispense technology that allows it to hold up to 32 loads of detergent and fabric softener before you’ll need to refill it. You can even scan the barcode on whatever detergent bottle you’re using so that the unit’s AI can adjust the dispensed amounts out based on the brand and your laundry’s load size.

Leviton level 2 48A EV charger

Save $140 on Leviton’s level 2 48A hardwired EV charging station while it’s at a new $559 low

Amazon is offering a rare chance at savings during this Black Friday season on Leviton’s Level 2 48A Hardwired EV Charging Station for $559 shipped. Normally sitting full price at $699, this is the first discount we’ve spotted on this standard EV charger in 2024 since seeing it last during 2023’s Black Friday period at $595. After nearly a year of no price changes, we’re finally seeing it come down with a 20% markdown, saving you $140 while also giving you the new lowest price that we have tracked.

This level 2 EV charger from Leviton arrives compatible with most EVs on the market – Audi, BMW, Ford, Honda, Subaru – plus, you can even use it to charge your Tesla vehicles with the supplied adapter, often averaging around 25 miles per hour of charging. It comes housed within a water-resistant enclosure to protect it from adverse elements and inclement weather, with its charging cable designed to prevent freezing and cracking too. This is a hardwired model that comes easy to install indoor or outdoors, but keep in mind that it does require a 60A breaker.

If you would prefer this charging station with additional smart controls, the alternate Leviton Level 2 48A Smart Hardwired EV Charging Station is also seeing a discount to the second-lowest price of $636 shipped, down from $749. You’ll get the same compatibility, performance, and features here, but with the added bonus of smart control functionality though the My Leviton App via Wi-Fi.

ALLPOWERS Black Friday

Get 99Wh/31,000mAh of juice through Jackery’s Explorer 100 Plus LiFePO4 power station at $89 low

Jackery is offering a return low price through its official Amazon storefront on the Explorer 100 Plus Portable Power Station that is down at $89 shipped, after clipping the on-page $40 off coupon. Already down from its full $149 price tag, we’ve mainly seen discounts bring the costs down to either $100 or $90 throughout 2024, with the first drop further to the $89 low occurring during September’s Labor Day sales, only repeating for a short-lived Prime Day time period. Today though, you’re looking at another chance to grab it for your personal backup power needs at the lowest price we have tracked – even beating out Jackery’s direct Black Friday rates by $1.

If you’re in need of a larger, but still portable backup power solution for your personal everyday devices, Jackery’s Explorer 100 Plus definitely beats out plenty of power banks with its 99Wh (31,000mAh) LiFePO4 battery capacity and 128W output power speeds. The compact form factor stashes away inside your bag for charging-on-the go during your regular everyday travels and trips out of town alike. The dual USB-C ports and the single USB-A port cover your devices, while the unit’s own battery can be refilled to 70% in about an hour via a wall outlet, while it takes up to two hours for it to reach full. What’s more, there’s solar charging capabilities here with a max 100W solar input, with recharging through this method taking about two hours. You can also plug it into your car’s auxiliary port for a full battery in up to three hours. There is one bundle option to get the station with a 40W solar panel for $170, after clipping the on-page $60 off coupon.

With Jackery’s Black Friday sale still going, many of the best deals on larger power station units can be found there, however, there are a few standouts that are being matched or beaten out at Amazon, which provide more capacity and more output power levels:

If you’re looking for even larger options, be sure to check out the full spread of Jackery’s Black Friday sale, which has plenty of low prices across power stations, solar generator bundles, and even new releases. 

Best Black Friday e-bike deals!

Best new Green Deals landing this week

The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.

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California announces lawsuit to resist Congress’ illegal attacks on clean air

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12 hours ago

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May 22, 2025

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California announces lawsuit to resist Congress' illegal attacks on clean air

california governor gavin newsom

California will go to court to protect its clean air in the face of illegal attacks by republicans in Congress, said California Governor Gavin Newsom today.

Earlier today, the US Senate voted to revoke California’s waiver to set its own clean air rules using the Congressional Review Act (CRA). The House previously voted on a similar measure earlier this month.

For more than half a century, California has asked for and been granted this waiver that allows it to set its own emissions rules. Other states can follow California’s rules (and around 11 states do so, though that amount differs for each rule), as long as they do so exactly, and as long as those rules are stronger than the national ones.

It has this unique authority because California had its own Clean Air Act before the federal Clean Air Act was passed, and because the state had a unique problem with smog at the time and needed stricter rules than the rest of the country. So a carveout was made in the federal law in recognition of this, and California has been granted this waiver over 100 times after following proper rulemaking processes, and denied zero times.

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California’s clean air laws have been effective in reducing pollution, with vehicle-based pollutants dropping by 98% in the last 50 years. But of course, there’s still more to be done, as the LA area remains one of the smoggiest in the country due to factors including geography, high car dependency, heavy shipping traffic, and a lack of public transitt.

Despite the protestations of industry at the time and since, these rules have not made it impossible for them to operate, or sell cars, or profit from selling cars, in California or any other states that follow its rules.

California’s newest set of rules is set to save Californians, and the residents of other states who follow them, hundreds of billions of dollars on health, fuel, and maintenance costs through 2050 by encouraging electrification – and of course will save thousands of lives due to pollution reductions.

Republicans targeted not just California’s regulation on light duty vehicles (ACC II), but also some other truck emissions rules (the ACT and HD low-NOx Omnibus rules), with their CRA action today.

The problem is, Congress does not have the power to revoke this waiver, because that’s not how the CRA works.

The CRA is an until-recently rarely-used Act which allows Congress to disapprove of recent rules set by a federal government agency, and bar that agency from implementing similar rules.

However, California’s waiver is not a rule from a federal government agency, it’s a waiver from the EPA to let California set its own rules. Therefore, the CRA doesn’t apply, as acknowledged by the Senate Parliamentarian, the Government Accountability Office, many, many other legal observers, and even Congress itself, where Senator Mike Lee voted to rescind the waiver, despite saying clearly that it “cannot be reviewed under the Congressional Review Act (CRA).”

It’s also outside the 60 day window allowed for review by the CRA. Stack another violation of law on top of the first one.

So, today’s action by Congress is illegal, and California is now going to court to stop it.

California announces lawsuit to protect clean air

Hot on the heels of republicans declaring their desire to raise health and fuel costs for Americans, and their opposition to clean air, California Governor Gavin Newsom came out with a response, committing to taking the issue to court, as California has done (and won) in the face of previous republican attacks on clean air.

Gov. Newsom declared his opposition to the republican plan to “Make America Smoggy Again” today, saying:

“This Senate vote is illegal. Republicans went around their own parliamentarian to defy decades of precedent. We won’t stand by as Trump Republicans make America smoggy again — undoing work that goes back to the days of Richard Nixon and Ronald Reagan — all while ceding our economic future to China. We’re going to fight this unconstitutional attack on California in court.”

-California Governor Gavin Newsom

California Attorney General Rob Bonta also spoke at the press conference, saying:

“With these votes, Senate Republicans are bending the knee to President Trump once again. The weaponization of the Congressional Review Act to attack California’s waivers is just another part of the continuous, partisan campaign against California’s efforts to protect the public and the planet from harmful pollution. As we have said before, this reckless misuse of the Congressional Review Act is unlawful, and California will not stand idly by. We need to hold the line on strong emissions standards and keep the waivers in place, and we will sue to defend California’s waivers.”

In its press release, the California Governor’s Office pointed to the decades of precedent upholding California’s waiver, which is protected by the Clean Air Act. It also pointed out that the California Air Resources Board was established under Governor Ronald Reagan, and waivers were first granted by President Richard Nixon.

Both of these individuals are republicans, though from a time before the party had fallen quite so far down the rabbit hole of openly wishing harm on Americans.

California goes on to talk about how Congress’ actions make driving less affordable by raising fuel and health costs, hand over the keys to the auto industry to China by slowing down the US auto industry’s transition to EVs, and harm the climate leadership of California, the most productive state and the 4th largest economy in the world, which has grown by 78% since the year 2000 while cutting greenhouse gas emissions by 20% since then.

California did not yet file the lawsuit, merely stated its intent to do so today. But courts have ruled in favor of California many times in the past in cases related to its authority to protect its own air, most recently doing so in December.

Clean air groups also offered their support for California’s lawsuit. The Environmental Defense Fund said:

“We stand with California’s leaders in protecting the health and safety of millions of people from harmful vehicle pollution. The state’s clean air standards for new cars and trucks protect children’s lungs and the communities where they grow up from smog and soot. They help farmers, builders, and others who work outdoors breathe easier. They reduce the climate pollution that fuels deadly wildfires, droughts, and other disasters. They save hard-earned money at the pump — and they save thousands and thousands of lives”

-Vickie Patton, General Counsel, Environmental Defense Fund

While the EDF did not yet join the lawsuit (as it hasn’t been filed), a number of nonprofits joined another California lawsuit against an illegal freeze on charging funds today, so we may expect future comment from the groups involved in that lawsuit.

On another note, republicans took action to cut the rooftop solar credit today. That means you could have only until the end of this year to install rooftop solar on your home, before republicans raise the cost of doing so by an average of ~$10,000. So if you want to go solar, get started now, because these things take time and the system needs to be active before you file for the credit.

To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here. – ad*

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Tesla Model Y compared to ‘Tesla killer’ Xiaomi YU7: it’s not even close

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13 hours ago

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May 22, 2025

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Tesla Model Y compared to 'Tesla killer' Xiaomi YU7: it's not even close

Here we compare the specs of the new Tesla Model Y (Chinese version) to the newly unveiled Xiaomi YU7, a vehicle dubbed the ‘Tesla killer’.

For years, we laughed at people using the term ‘Tesla killer’ for new electric vehicles. To this day, even as Tesla’s sales are declining, it’s a bit dumb to use the term since no single EV is going to “kill” Tesla.

However, there’s one that is as close to do it as we have seen so far.

Earlier this year, we reported on how Xiaomi’s first electric vehicle, the SU7, had a major negative impact on Tesla’s Model 3 sales in China.

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At the time, we reported that the bigger concern for Tesla was that the Chinese electronics giant was now planning to launch a new EV, the YU7, aimed at competing against Tesla’s popular Model Y.

The Xiaomi YU7 was unveiled today, and we can now provide a side-by-side specs comparison that highlights Tesla’s problem in China.

Tesla Model Y vs Xiaomi YU7

The only thing that is missing about the YU7 as of the time of writing is the price, but it is expected to be very similar to Model Y and even likely to undercut by a bit.

Specs Tesla Model Y RWD Tesla Model Y Long Range AWD Xiaomi YU7 Standard (RWD) Xiaomi YU7 Pro (AWD) Xiaomi YU7 Max (AWD)
Launch Date January 2025 January 2025 July 2025 (expected) July 2025 (expected) July 2025 (expected)
Price (CNY) ¥263,500 ¥303,500 ~¥250,000 (est.) Not announced Not announced
Price (USD) ~$36,600 ~$42,200 ~$34,700 (est.) Not announced Not announced
Dimensions (L x W x H) 4,797 x 1,920 x 1,624 mm 4,797 x 1,920 x 1,624 mm 4,999 x 1,996 x 1,600 mm 4,999 x 1,996 x 1,600 mm 4,999 x 1,996 x 1,600 mm
Wheelbase 2,890 mm 2,890 mm 3,000 mm 3,000 mm 3,000 mm
Weight 1,921 kg 1,992 kg Not specified 2,405 kg 2,405 kg
Powertrain Single motor RWD Dual motor AWD Single motor RWD Dual motor AWD Dual motor AWD
Power Output Not specified (est. 200-250 kW) Not specified (est. 350-400 kW) 235 kW (315 hp) 508 kW (681 hp) 508 kW (681 hp)
0-100 km/h 5.9 s 4.3 s 5.8 s 4.3 s ~3.2 s
Top Speed 201 km/h 201 km/h 240 km/h 253 km/h 253 km/h
Battery Type LFP NMC LFP LFP Li-ion ternary (CATL)
Battery Capacity ~62.5 kWh ~80 kWh 96.3 kWh 96.3 kWh ~101.7 kWh
Range (CLTC) 593 km 719 km 835 km 750 km 760 km
Charging Architecture 400V 400V 800V 800V 800V
Seating Capacity 5 (7 optional) 5 (7 optional) 5 5 5
Key Features – Updated design – Rear seat touchscreen – FSD-capable – Same as RWD – Higher performance – Panoramic HUD – HyperOS – Larger cabin – Same as Standard – Higher performance – Top-tier performance – Premium interior (assumed)
Autonomous Driving FSD with AI4 computer FSD with AI4 computer Nvidia Thor chip (700 TOPS) Nvidia Thor chip (700 TOPS) Nvidia Thor chip (700 TOPS)

These specs show that the vehicles are extremely similar. The main difference is that Xiaomi packs a lot more batteries into the YU7 than Tesla puts into the Model Y, resulting in a significant difference in range.

To be fair to Tesla, it still dominates in efficiency as it does more with fewer batteries, which is an important skill to have. However, most customers don’t care about that and want a longer range. They don’t care how you make it happen.

Another big difference is the design.

As we previously reported, the Tesla Model Y design refresh looks similar to other Chinese EVs.

Based on the online reception, the Model Y is viewed as having a more tired design that is not as luxurious as the YU7.

That’s particularly true of the exteriors.

It’s a similar situation in the interior, but Xiaomi also outshines Tesla here with more technology, like display along the dash:

Both vehicles feature a large center display where most of the controls are located.

Electrek’s Take

I think Tesla is in trouble in China. The competition is impressive and there are vehicles that clearly directly target Model Y, Tesla’s bread and butter, and there’s no better example than this one.

The only thing missing is pricing, but if it’s priced as expected, which is like the SU7 to the Model 3, it will make it a no-brainer for most buyers.

Also, Xiaomi often gets mentioned as a ‘Tesla killer’ because the vehicles are not only ultra competitive with Tesla, but it is also producing them in high volumes.

SU7 outsold the Model 3 within a year of launching. The YU7 is coming to market within the next 2 months, and it should reach impressive volumes that are going to put pressure on Tesla’s Model Y sales by the end of the year.

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Top $TRUMP holders head to crypto dinner with president that Democrats call ‘orgy of corruption’

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13 hours ago

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May 22, 2025

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Top $TRUMP holders head to crypto dinner with president that Democrats call 'orgy of corruption'

Jonathan Raa | Nurphoto | Getty Images

Nick Pinto is a marketing director at his family’s law firm in New Jersey. He’s also a crypto trader who spent enough money on Donald Trump’s meme coin to win a spot at a private black-tie dinner with the president scheduled for Thursday night.

“I was kind of early in bitcoin and ethereum, so I’ve always been trading crypto,” said the 25-year-old Pinto, who claims he finished number 72 on the leaderboard for the token contest. “Once I saw the announcement that Trump was releasing a coin, I immediately started to purchase it.”

Pinto said in an interview that he spent half a million dollars on the $TRUMP meme token in order to attend the dinner, which is being held at President Trump’s private golf club in Potomac Falls, Virginia, near Washington, D.C. Pinto shared screenshots with CNBC that appear to back up his claim.

The $TRUMP coin, which has no attached asset or underlying value, was launched just ahead of the president’s inauguration in January and has drawn heavy scrutiny from Democratic lawmakers who say President Trump is profiting from his position of power.

The dinner was announced last month and promised to reward the top 220 token owners with “the most exclusive invitation in the world.” The top 25 finishers were also told they would get a private reception with the president, as well as a “special VIP tour.”

President Trump hosts meme coin megadonors amid conflict of interest claims

Democratic senators called the competition a blatant example of “‘pay to play’ corruption” — the coin jumped 50% after the dinner announcement. Earlier this week, the Senate advanced a Trump-backed crypto regulation bill called the GENIUS Act after getting enough Democratic support to clear a potential filibuster.

Guests for Thursday night’s dinner were required to complete a background check, according to a copy of the invitation viewed by CNBC. Attendees were instructed not to arrive before 5:30 p.m., with the dinner starting at 7 p.m. and expected to last three hours.

Pinto doesn’t know what his investment in $TRUMP will get him other than the dinner. He said he thinks the tokens will be usable in a digital Trump golf game that was announced in December and is expected to launch next month, according to a press release.

“There’s a few things that I want to ask him,” Pinto said. “I definitely want to find out if he’s going to want to use this coin in the game. That’s probably my top question, because not many people know about that game.”

The Trump coin team didn’t immediately respond to a request for comment.

Because crypto wallets are pseudonymous, most participants in the competition appeared only as three- to four-letter usernames linked to cryptographic wallet addresses. Many of the winners are tied to international exchanges, according to blockchain analytics firm Inca Digital, raising concern that non-Americans may be paying for the opportunity to try and influence the U.S. president.  

While Pinto is going public about his participation, most of the identities tied to top wallets are unknown. Blockchain data shows that a majority of the top entrants used offshore exchanges barred to U.S. residents. An analysis by Bloomberg revealed that 19 of the top 25 wallets, and more than half of the top 220, are almost certainly owned by individuals operating outside the U.S.

The competition drew an estimated $148 million in purchases from supporters around the world, a massive fundraising haul for a digital asset launched just months ago. Among those attending is Justin Sun, the Chinese-born founder of the TRON blockchain, who confirmed this week that he is the contest’s top-ranked investor.

At current prices, Sun’s stake in $TRUMP is now worth more than $20 million. Sun was also one of the first major backers of World Liberty Financial, the Trump family’s crypto venture, buying at least $75 million of its native token “WLFI.”

In 2023, U.S. regulators accused Sun of illegally selling unregistered securities and artificially inflating token prices. A month into Trump’s second White House term, a federal court filing showed the SEC was in settlement talks with Sun to resolve the civil fraud charges.

Trump hosts exclusive gala for meme coin holders as lawmakers raise ethics concerns

Final leaderboard

MemeCore, a Singapore-based crypto network that was vocal in its quest to secure a spot at the Trump dinner, landed in second place with an investment of around $19.7 million, according to a post on X that the company later deleted. MemeCore didn’t immediately respond to a request for comment.

Some buyers didn’t make the cut.

Freight Technologies, a Houston-based logistics company, said it spent $2 million on $TRUMP tokens as part of what it called a strategic push to “champion fair and free trade” across the U.S.-Mexico border. The company still finished in 250th place. Freight trades on the Nasdaq as a penny stock and has a market cap of about $6.5 million.

The final leaderboard was calculated using a time-weighted formula that factored in both the size and duration of each participant’s holdings. That means early buyers who held onto their tokens consistently, like Pinto, could outrank bigger last-minute spenders.

Investors in $TRUMP, like with other meme coins, have to be prepared for big ups and downs.

Immediately after its launch in January, the Trump coin spiked to a $15 billion market cap before crashing within days. It’s currently worth about $2.1 billion.

That volatility has created stark winners and losers. Blockchain data shows that more than $5.2 billion in profits flowed to the top wallets, while over 590,000 wallets — mostly small retail traders — collectively lost nearly $4 billion.

Since January, more than $324 million in trading fees have been routed to wallets tied to the project’s creators, according to Chainalysis. The token’s code automatically directs a cut of each transaction to these addresses, allowing the team to profit from ongoing activity. The blockchain analytics firm stopped tracking the president’s meme token about two weeks ago, citing a need to refocus resources on paying clients.

The Trump family has reaped enormous financial benefit. Roughly 75% of proceeds from World Liberty Financial and more than 80% of profits from the meme coin have gone directly to the Trump Organization and affiliated entities. The project has also generated hundreds of millions of dollars in trading fees.

Senator Chris Murphy, D-Conn., has introduced legislation that would ban sitting presidents from profiting off meme coins while in office.

In a press conference hours before the dinner, Murphy warned that “just because the corruption is playing out in public where everybody can see, it doesn’t mean that it isn’t rampant, rapacious corruption.” He called tonight’s event “maybe the most corrupt, of all of the corruption.”

Sen. Elizabeth Warren, D-Mass., went further, describing the gathering as “an orgy of corruption” and accusing Trump of using the presidency “to make himself richer through crypto.” She called for changes to the GENIUS Act that would bar any president from profiting off stablecoin ventures.

With Republicans in control of both chambers of Congress, Democrats have limited ability to force action.

In response to CNBC’s questions about the dinner, Deputy White House Press Secretary Anna Kelly said, “The president is working to secure good deals for the American people, not for himself,” adding that he “only acts in the best interests of the American public.”

Pinto, who paid $500,000 for his invitation and still holds most of his tokens, said the risk is worth it.

“I didn’t put in more than I’m willing to lose,” he said. “I’m fine if it goes to zero.”

WATCH: Bitcoin surges to new record high above $111,000: CNBC Crypto World

Bitcoin surges to new record high above $111,000: CNBC Crypto World

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