- Donald Trump’s crypto gala sparked controversy as lawmakers introduced the “Stop TRUMP in Crypto Act” to ban top officials from crypto dealings.
- Meanwhile, the Trump memecoin faced a sharp price drop amid political backlash, even as Bitcoin continued to surge.
In a dramatic clash of crypto ambition and political resistance, Donald Trump’s high-profile “Crypto Dinner” unfolded under a storm of controversy in Loudoun County, Virginia. The glitzy event, attended by 220 influential investors and financial leaders, came just hours after Representative Maxine Waters unveiled a bill directly targeting Trump’s crypto ventures — the “Stop TRUMP in Crypto Act.”
The bill aims to prohibit top U.S. officials and their families from owning, promoting, or profiting from digital assets while in office. Waters did not mince words, calling Trump’s crypto involvement “a dangerous backdoor for selling influence over American policies to the highest foreign bidder.” The act has sparked heated debate in Washington, dividing lawmakers and spotlighting ethical concerns at the intersection of politics and finance.
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Meanwhile, Trump used the event to double down on his support for Bitcoin and digital assets. In a post on Truth Social, he declared, “The U.S.A. is DOMINATING in Crypto, Bitcoin, etc., and we are going to keep it that way!” He touted the idea of a U.S. Strategic Bitcoin Reserve, suggesting a halt to future government sales of seized BTC — a stark shift from past federal policies.
Despite the bold rhetoric, the Official Trump [TRUMP] memecoin faced a turbulent 24 hours. After peaking at $15.80 during the dinner excitement, the token plunged nearly 5%, closing at $13.76 — reflecting investor unease amid the political firestorm. By contrast, Bitcoin remained resilient, climbing over 6% in the past week to hover above $110,000.
A White House spokeswoman defended Trump, noting that all his assets are held in a blind trust and suggesting his business acumen is a cornerstone of his appeal to voters.
As crypto continues to fuse with campaign strategies, the battle over regulation, ethics, and influence is heating up — and Trump’s gala may be just the beginning of a larger national showdown.