- At the event where Trump hosts an expensive meme coin dinner, disappointed attendees saw the $TRUMP coin drop 16% right afterward. It seems the Trump Hosts Expensive Meme event didn’t go as planned for investors.
- Guests criticized the food, weak security, and Trump’s short 23-minute appearance.
- Lawmakers and regulators raised concerns about crypto corruption and political influence after the gala.
Donald Trump held a black-tie dinner at his Virginia golf club. The event honored the biggest buyers of his meme coin. These guests spent over $148 million combined to get invited. However, just hours after the dinner, the coin’s value dropped by 16%. Many attendees expected more but left disappointed. The event was supposed to be exclusive and luxurious. Instead, it left guests hungry, confused, and watching the coin price fall during dinner.
Crypto Influencers, Executives, and Celebrities Joined the Event
The guest list included crypto influencers and industry leaders. Sandy Carter from Unstoppable Domains attended. Former NBA star Lamar Odom was also there. He praised Trump and promoted his own crypto token, $ODOM. Around 220 people made it to the dinner. Many of them no longer even held the $TRUMP coin. Some guests spent the evening checking their phones. They watched the token’s price dip in real time while eating. The excitement faded quickly as people realized what the night was really about.
Trump Made a Short Appearance Then Left By Helicopter
Donald Trump showed up late and left early. According to guest Nicholas Pinto, the former president stayed for only 23 minutes. He gave a quick speech filled with old crypto ideas. Then, he left the golf club in a helicopter. Pinto said Trump didn’t speak to most guests. He may have interacted with only the top 25 wallet holders. Others, like Pinto, didn’t even get a picture with him. Many had hoped for more access or at least a personal thank-you.
Guests Complained About the Food and Weak Security
Pinto also criticized the dinner itself. “The food sucked,” he said. He only got water or Trump-branded wine to drink. Pinto doesn’t drink alcohol, so he drank water. But his glass was only filled once. The event lacked basic service for such a high-profile night. Security also seemed weak. Phones were not locked in special pouches. Once Trump left, staff stopped checking on guests or enforcing rules. This raised more concerns about how seriously the organizers took the event.
Protesters Gathered Outside and Politicians Raised Concerns
Outside the gates, about 100 protesters gathered. They held signs with phrases like “Crypto Corruption” and “Trump is a traitor.” Senator Jeff Merkley from Oregon joined the protest. He supports the End Crypto Corruption Act. Senate leaders are pushing new rules to stop presidents and top officials from making money through crypto while in office. This new move clearly targets Trump and his growing involvement in crypto.
Trump’s Top Crypto Supporter Faces Federal Charges
The largest holder of the $TRUMP token is Justin Sun. He is a Chinese-born crypto billionaire who holds over $22 million worth of Trump’s token. He also owns $75 million in another coin from World Liberty Financial. Sun faces fraud charges from the SEC, although the case is currently on pause. He attended the dinner and thanked Trump on social media. His involvement raised even more red flags for lawmakers and regulators.
Trump’s Crypto Event Could Hurt Stablecoin Legislation
The dinner created a political storm in Washington. Representative French Hill, a Republican, said the event made his job harder. He leads work on the GENIUS Act, a bipartisan bill to regulate stablecoins. Hill said the gala was a distraction. Political tension over Trump’s crypto empire could stop the bill from moving forward. If that happens, the U.S. might fall behind in the global race for digital money.
Senate Democrats Push to Ban Crypto Profits for Politicians
During the gala, Senate Democrats announced a bold plan. They want to ban presidents and top officials from profiting from crypto. This would directly affect Trump’s new stablecoin, USD1. If passed, this rule would prevent future leaders from mixing public power with private digital currency deals. Democrats say Trump’s actions show why these rules are necessary now more than ever.
U.S. Banks Prepare to Launch a Regulated Digital Dollar
Big banks are also watching closely. JPMorgan, Bank of America, and Citi are planning a unified U.S. digital dollar. Their goal is to compete with Tether, a foreign-backed stablecoin with 60% of the market. But these banks need clear laws before they can act. If the GENIUS Act fails, the U.S. might miss its chance to lead in global digital payments. That could damage trust in American finance.
White House Distances Itself from Trump’s Private Crypto Work
Press secretary Karoline Leavitt told reporters the event was private. She said Trump attended in his own time. It was not a White House dinner. The White House refused to release a guest list. But blockchain data revealed that many top wallet holders used foreign crypto exchanges. Bloomberg reported that only six of the top 25 wallets were tied to U.S. platforms. Most guests seemed to come from offshore markets.
Some Firms Spent Millions and Still Didn’t Get a Seat
One company, Freight Technologies, spent $2 million on Trump’s token. They hoped to use the event to promote U.S.–Mexico trade. But they didn’t rank high enough. They placed 250th and didn’t get invited. This shows how competitive and unclear the invitation system was. It also reveals how Trump’s token blurred the line between business and politics.
Trump Family Builds a Crypto Empire with High Stakes
The $TRUMP coin has already generated $324 million in trading fees since January. Trump and his affiliates control about 80% of the token supply. Their second token, WLFI, made $550 million from sales. These numbers show how serious Trump’s family is about crypto. They are building a massive digital empire.
White House Crypto Leader Still Sees Hope for Regulation
David Sacks, the White House crypto adviser, believes the GENIUS Act will pass. He said there is strong bipartisan support. “We already have over $200 billion in stablecoins,” Sacks said. “If we give legal clarity, we could boost demand fast.” Sacks sold $200 million in crypto before taking his government job. But Trump and his family continue to expand their crypto reach. They support the USD1 stablecoin, which is backed by cash and U.S. Treasurys.
Foreign Funds Pour Billions into Trump’s Stablecoin
Abu Dhabi’s MGX investment fund recently pledged $2 billion to USD1. They gave it to Binance, the world’s largest crypto exchange. This is the biggest crypto investment Binance has ever received. It shows how much global money is backing Trump’s stablecoin. But it also adds more pressure to pass laws that clearly separate personal profit from public power.
