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Donald Trump’s exclusive gala for $TRUMP meme coin investors, held at Trump National Golf Club in Virginia, ended with widespread dissatisfaction among attendees. The black-tie dinner on May 22 drew 220 crypto investors who had collectively spent $148 million to gain access.
Many guests expressed disappointment with a premium networking experience. Attendees reported poor food quality, limited interaction with Trump, and unmet expectations. Nicholas Pinto, a young investor who contributed $360,000, described the meal as substandard. “The food sucked,” he told WIRED, noting the only highlights were bread and butter.
Guests were promised a gourmet meal of filet mignon and halibut, but several claimed the served dishes did not match what was advertised. Trump’s brief 23-minute appearance added to the frustration. He delivered a short speech, avoided questions, and left via helicopter without engaging with the broader crowd.
While the event marketed exclusive access, only the top 25 wallets secured a private reception with Trump. Influential names like Chinese billionaire Justin Sun and former NBA star Lamar Odom attended, yet even media figures like OANN’s Caitlin Sinclair couldn’t get a photo with the former president.
Senator Elizabeth Warren condemned the gathering, calling it “an orgy of corruption” and accusing Trump of exploiting political influence for financial gain. Her statement followed reports that over 80% of the $TRUMP token supply remains under Trump Organization control. Despite U.S. regulations, blockchain analysis showed that most top wallets traded through offshore exchanges.
Protesters, including Senator Jeff Merkley, gathered outside the venue. Many criticized the event’s optics, especially as lawmakers debated stablecoin regulations on Capitol Hill. Rep. French Hill, co-sponsor of the GENIUS Act, called the dinner a distraction from crypto policy progress.
The criticism has complicated the passage of the GENIUS Act, a bill introduced by Democrats and Republicans to manage stablecoins. Senior Democrats also suggested adding a clause to prevent government officials and presidents from making gains in the crypto space during their tenure. This move directly challenges Trump’s ongoing crypto involvement, including backing the USD1 stablecoin.
Crypto czar David Sacks defended the legislative push. He stated that the U.S. must quickly clarify the $200 billion stablecoin market. However, some fear the bill could face delays with Trump-linked ventures raising ethical concerns.
Meanwhile, the next day, the meme coin's price decreased by 16% from the previous day. Those attending watched the charts while at the meeting, and many doubted the coin's worth over time. The gala made many investors wonder if the event provided any benefit besides being visually spectacular.
Also Read: $140 Million Trump Memecoin Frenzy: Crypto Traders Go All In
