President Trump hosted an exclusive dinner Thursday night for his 220 largest $TRUMP (TRUMP-OFFICIAL-USD) memecoin buyers, an event that sparked controversy in the U.S. capital at a crucial juncture in the cryptocurrency world.

According to The New York Times, Trump told the dinner guests, “The previous administration made your lives miserable.”

According to The Wall Street Journal, he added, “The Biden administration persecuted crypto innovators, and we are bringing them back to America where they belong.”

This high-profile event, held at his private golf club in Virginia, has caused widespread unease among Democrats (and even some Republican lawmakers), who have highlighted concerns about a conflict of interest.

Wyoming Republican Senator Cynthia Loomis, speaking to NBC earlier this month about the dinner, said, “We’re talking about my president, but I have to say, it gives me pause.”