日本語
한국어
Tiếng Việt
简体中文
President Trump’s meme coin gala, celebrating top buyers of his $TRUMP token, has sparked controversy. While attendees shelled out a combined $148 million for a seat at the table, some are saying the event fell short of expectations.
A Pricey Plate of Disappointment?
The exclusive black-tie dinner, held at Trump’s Virginia golf club, promised an unforgettable experience. However, crypto investor Nicholas Pinto, who attended the event, described the food as underwhelming. “The food sucked,” Pinto stated, adding that drink options were limited to water and Trump’s wine.
Despite the hefty investment required to attend, Pinto claimed that Trump’s appearance was brief. “He didn’t talk to any of the 220 guests – maybe the top 25,” he said, estimating the president’s total time at the event at just 23 minutes. He delivered a short speech and then departed by helicopter.
Security also seemed lax, according to Pinto. “Once Trump left, they didn’t really worry about anything else,” he noted, mentioning that phones weren’t secured.
Meme Coin Market Reacts
The price of the $TRUMP meme coin experienced a significant drop, plunging 16% shortly after the gala. The event, which drew crypto influencers and executives like Sandy Carter of Unstoppable Domains and former NBA star Lamar Odom, hasn’t quelled concerns surrounding Trump’s involvement in the crypto space.
Attendees observed that the opulent vibe didn’t match the enthusiasm of the group; Many were glued to their phones, monitoring the token’s price.
CNBC has reached out to Trump representatives for comment.
Crypto Controversy on Capitol Hill
The dinner has also ignited debate among lawmakers and regulators. The presence of Justin Sun, a crypto mogul facing SEC fraud charges, as the #1 token holder, has raised eyebrows.
Senator Jeff Merkley joined protestors outside the golf club, backing the End Crypto Corruption Act. Representative French Hill expressed concern that Trump’s meme coin ventures complicate efforts to regulate stablecoins, putting the GENIUS Act at risk.
Senate Democrats are reportedly pushing for a new provision to ban presidents and senior officials from profiting off crypto ventures while in office, a direct challenge to the Trump-linked stablecoin USD1.
Digital Dollar Race Heats Up
The potential derailment of the GENIUS Act could hinder the U.S.’s ability to compete in the global digital payments race. Major banks are reportedly exploring a unified digital dollar to rival Tether. The GENIUS Act would provide the required legal framework.
While the White House attempts to distance the president’s personal ventures from his official duties, the controversy surrounding Trump’s crypto involvement continues to grow.
Blockchain data reveals that many of the top $TRUMP wallets are linked to foreign exchanges, raising further questions about the project’s transparency and compliance.
Despite the criticism, David Sacks, White House AI and crypto czar, remains optimistic about bipartisan support for stablecoin legislation.
Keywords: Donald Trump, meme coin, $TRUMP, crypto, cryptocurrency, gala, dinner, Justin Sun, SEC, GENIUS Act, stablecoin, USD1, digital dollar, blockchain, regulation.