Trump promotes $TRUMP at an exclusive gala – protests in front of the golf club!

Trump promotes $TRUMP at an exclusive gala – protests in front of the golf club!

On May 22, 2025, an exclusive gala was held at US President Donald Trump's golf club in Virginia, attracting leading cryptocurrency investors, including numerous foreign participants. The aim of the event was to influence future US financial regulations for digital assets. The gala was described as "the most exclusive invitation yet" and attracted a diverse audience, including entrepreneurs, social media influencers and true Trump fans.

The focus of the event was the cryptocurrency “$TRUMP”, Trump's personal memecoin, which was particularly noticed by large buyers and investors such as Justin Sun, the founder of the cryptocurrency platform Tron. Sun invested over $40 million in the memecoin, which had already reached a market cap of over $6 billion at the time of the gala. Trump acknowledged the challenges faced by crypto companies during his speech and promised a more open regulatory environment for digital assets.

Protests and criticism

However, the event was not without controversy. Dozens of protesters gathered outside the golf club, chanting slogans such as “Stop crypto corruption.” Senator Jeff Merkley described the gala as a “crypto corruption club” and pointed out the potential problems associated with the close connection between the gala and the sale of the $TRUMP token. Observers see the event as an important moment for the digital assets community, although specific regulations were not discussed.

The $TRUMP coin, which serves as a tool for investors to connect with Trump's business interests, has generated at least $320 million in fees since its launch on January 17, 2025. Industry leaders such as SuKyung Na and Yan Liberman were also in attendance and supported Trump's pro-crypto stance.

Regulatory issues and legal concerns

The launch of $TRUMP has drawn both enthusiastic reactions and criticism. While some lawyers see the token as a sign of positive regulatory change in the US, others warn of potential legal problems, particularly with regard to the US Constitution. Attorney David Lesperance noted that the token can be easily acquired by foreign individuals or governments, which could be a possible violation of the Foreign Emoluments Clause. Bill Hughes, another lawyer with a desire for a regulatory framework for innovation in crypto, said he does not believe all crypto regulations will be eliminated.

Whether incoming Attorney General Pam Bondi will take action against Trump or the memecoin remains unclear. The authenticity of the $TRUMP token was initially questioned as there were many unofficial copies, including one by Martin Shkreli with the ticker symbol DJT. Nevertheless, the memecoin was later endorsed by the Trump family, causing its price to rise.

Currently, $TRUMP is trading at around $27, down 19% from its all-time high of $35 reached on January 18th. Despite these developments, Trump's gala shows how close the connection between politics and the cryptocurrency industry has become and points to future challenges and opportunities in the market. The gala remains a significant event in the context of the reforms the Trump administration may advance in the digital assets space.