Trump’s Meme Coin Soirée Flops: Cold Steak and Lax Security Leave Crypto Bros Hungry

Security was as thin as the soup at Donald Trump’s latest meme coin fundraiser—guests reportedly waltzed in without checks while nibbling on what one attendee called ’airline-grade’ filet mignon.

The event, pitched as a high-roller gathering for crypto’s elite, instead delivered all the glamour of a gas station deli. No word on whether the token’s whitepaper was printed on napkins.

Another swing at relevance by a man who still thinks ’ATH’ is a gym supplement. The only thing mooning here? Disappointment.

Guests ignored, wallets tracked, and complaints everywhere

The top 25 wallets were promised a special reception and tour. But others like Pinto — who was driven there in a Lamborghini by his dad — left unimpressed and hungry. TRUMP only stayed 23 minutes, gave a quick speech recycling old crypto lines, then flew off without taking pictures or answering any questions.

Pinto noticed that phones were not locked in RFID pouches and said security became an afterthought once Trump was gone. “Once Trump left, they didn’t really worry about anything else,” he said. Inside the ballroom, guests flaunted money. “Richard Mille watches weren’t even rare,” Pinto said. “I saw at least 16 people wearing them.” But he said the energy was off. “Lots of people didn’t even hold the coin anymore. They were checking their phones during dinner to see if the price moved.”

Outside the gates, about 100 protesters gathered. One of them was Senator Jeff Merkley, who showed up to support a new bill with Chuck Schumer. The bill — called the End Crypto Corruption Act — aims to stop presidents and high officials from profiting off crypto ventures while in office. Protesters held signs saying “Crypto Corruption” and “Trump is a traitor.”

Inside the event, the #1 holder of the $TRUMP coin was Justin Sun, the Chinese-born crypto billionaire. Justin holds over $22 million in the $TRUMP token and $75 million in World Liberty Financial’s token. He’s currently facing SEC fraud charges, although the case has been paused. 

Justin didn’t seem worried though. “As the top holder of $TRUMP and proud supporter of President Trump, it was an honor to attend the Trump Gala Dinner,” he posted. “Thank you @POTUS for your unwavering support of our industry!”

The chaos around the dinner added fuel to what’s becoming a mess on Capitol Hill. Representative French Hill, a Republican from Arkansas, said the Trump family’s involvement in meme coins is “making his work in Congress harder.”

Hill is one of the lawmakers behind the GENIUS Act, a bill designed to finally regulate stablecoins. But now, with Trump’s name tied to controversial tokens, he says the GALA was “a distraction from the good work we need to do.”

The GENIUS Act now faces a serious risk. Senator Josh Hawley added a clause that WOULD limit credit card late fees, which banks hate. It’s now being called a poison pill that could kill support for the whole thing. While the gala was happening, Senate Democrats said they would push for new rules blocking US presidents and top officials from profiting off crypto — a direct challenge to USD1, a stablecoin linked to Trump and launched this spring.

If the bill collapses, the damage could go global. JPMorgan, Bank of America, and Citi are reportedly in early discussions about building a US digital dollar. Their plan is to compete with Tether, which now dominates 60% of global crypto transactions.

But those banks are waiting for legal clarity. If the GENIUS Act doesn’t pass, the US could lose momentum in the international crypto race.

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