The flashy online announcement called it “the most EXCLUSIVE INVITATION in the World,” a chance to have “an intimate private dinner” with President Donald Trump at his members-only golf club in Virginia, followed by a tour of the White House.

A seat would be reserved for each of the top 220 investors in $TRUMP, a cryptocurrency Trump launched on the eve of his inauguration.

A website promoting $TRUMP, the president’s so-called meme coin, announced Wednesday that the coin’s largest buyers would be invited to meet him. The effort was, in effect, an offer of access to the White House in exchange for an investment in one of Trump’s crypto ventures.

As he markets digital currencies to the public, Trump has also appointed regulators who are scaling back crypto enforcement and called for legislation that would boost the industry’s prospects in the United States.

As news of the dinner invitation spread on social media, the meme coin’s price surged more than 60%.

“This is really incredible,” said Corey Frayer, who oversaw crypto policy for the Securities and Exchange Commission during the Biden administration. “They are making the pay-to-play deal explicit.”

A business entity linked to Trump owns a large tranche of the coins, meaning the president personally profits every time the price increases, at least on paper. Trump and his business partners also collect fees when the coins are traded, a windfall that amounted to nearly $100 million in the weeks after the coin debuted in January.

Early this year, the SEC issued official guidance saying meme coins, a type of cryptocurrency based on an online joke or celebrity mascot, would not be subject to oversight by the agency. Crypto skeptics criticized the policy as a risky move that could open the door to fraud.

As president, Trump has broad immunity from laws governing conflicts of interest, a loophole he has pointed out in the past.