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Trump's Crypto Gala Draws Democratic Ire Over Influence Concerns
Summary: President Donald Trump on Thursday praised the cryptocurrency industry ahead of attending a crypto gala in Virginia, an event that quickly drew sharp criticism from Democratic lawmakers. The gala was reportedly set to host the top 220 investors in his personal "$TRUMP" memecoin, with some top holders offered a private reception with the former president. ...
President Donald Trump on Thursday praised the cryptocurrency industry ahead of attending a crypto gala in Virginia, an event that quickly drew sharp criticism from Democratic lawmakers.
The gala was reportedly set to host the top 220 investors in his personal "$TRUMP" memecoin, with some top holders offered a private reception with the former president.
Democrats, including Sen. Elizabeth Warren, D-Mass., condemned the event over concerns about potential influence peddling and foreign access. Warren stated, "The American people don't know who is paying to get close to the president, or what they're getting in return."
Concerns over Trump's growing involvement in digital assets have escalated in Washington. Trump and his wife, Melania, have launched their own memecoins, and the Trump-backed World Liberty Financial, in which his family holds a significant stake, recently launched its own stablecoin. His sons are also expanding the family's crypto ties, including through plans for a Bitcoin mining company.
Sen. Richard Blumenthal, D-Conn., accused the administration of concealing the guest list for the event. "Donald Trump is selling access," Blumenthal said. "He is selling out America. He is selling it to foreign powers. He is putting our national security at risk."
This controversy unfolds as lawmakers continue to draft broader legislation to regulate the digital asset industry, with the Senate notably advancing the GENIUS Act aimed at stablecoins.
