Former President Donald Trump hosted a private dinner at his Trump National Golf Club in Virginia for major investors in his personally endorsed meme cryptocurrency, triggering a political uproar and widespread protests.
The cryptocurrency, officially authorized by Trump, has attracted substantial investment—some attendees reportedly poured in millions of dollars. The event was seen as a gesture of appreciation to the project’s top backers.
Among the high-profile guests was Tron founder Justin Sun, along with other notable figures from the crypto industry. However, the presence of foreign investors raised national security concerns and fears of foreign influence.
Democratic lawmakers and progressive organizations harshly criticized the event, accusing Trump of “blurring the lines between presidential authority and private business interests” and labeling the gathering a form of “crypto corruption” and “pay-to-play influence.”
Representative Maxine Waters, a senior member of the House Financial Services Committee, announced plans to introduce legislation that would prohibit presidents and their family members from participating in any cryptocurrency ventures to prevent future conflicts of interest.
Protests broke out in Washington and outside the golf club on the night of the dinner, with slogans like “America Is Not for Sale” and “Stop Crypto Corruption.” Activist groups such as Public Citizen and Our Revolution urged Congress to increase oversight of presidential family finances, warning that political power must not be repackaged as a digital asset.
Senators Chris Murphy and Elizabeth Warren held a press conference on Capitol Hill, reaffirming the need for the Modern Executive Monetary Ethics (MEME) Act, which would ban high-ranking government officials from profiting off cryptocurrencies. Warren stated, “This is not just a matter of financial transparency—it’s about the moral integrity of our nation.”
The guest list remains undisclosed, but total investments are estimated to exceed $100 million. Some attendees were reportedly promised access to the White House, fueling outrage over what critics describe as a “crypto-for-access” scheme. Several lawmakers have since announced they will withhold support for legislation related to stablecoins and digital asset market structures until the “Trump crypto controversy” is resolved.
In response, Trump’s team maintained that the event was “a legitimate private gathering,” claiming all attendees underwent background checks. A spokesperson defended the Trump family’s business dealings as lawful, accusing critics of using political agendas to tarnish Trump’s reputation.
Nonetheless, the incident has shaken public perception of the crypto industry and intensified scrutiny of its intersection with political power. The controversy marks a pivotal moment in the debate over the ethical boundaries of digital assets and governance.
Democrats have vowed to press forward with legislation to prevent what they describe as the “commodification of the presidency.” In the coming weeks, the fate of crypto regulation in the U.S. may be significantly altered by the fallout from this event.