Trump’s Memecoin Dinner Sparks Political Backlash Over Crypto Ties

President Donald Trump is under fire for hosting a private dinner with top memecoin investors, including Tron founder Justin Sun, at his Trump National Golf Club near Washington, D.C. The event, set for Thursday evening, will reportedly bring over 200 crypto supporters together—many of whom spent millions to secure a seat at the table. Critics argue the gathering is less about blockchain innovation and more about personal gain, fueling accusations of corruption.

Leading the opposition, Representative Maxine Waters announced a Capitol Hill press event at 12:45 p.m. Thursday, calling out Trump for allegedly leveraging his political influence to promote crypto ventures tied to himself and his family. Waters plans to introduce a bill aimed at banning U.S. presidents, vice presidents, lawmakers, and their families from profiting from crypto investments during their terms.

Senators Elizabeth Warren, Chris Murphy, and Jeff Merkley will join Waters’ criticism with their own press conference at 2:30 p.m. Murphy previously proposed the MEME Act—designed to block federal officials from profiting off digital assets. Protestors from the progressive group “Our Revolution” will also rally outside Trump’s golf club under the slogan “America Is Not For Sale.”

While Trump’s team denies any wrongdoing, critics claim that anonymous memecoin buyers—possibly foreign—are gaining political access, raising transparency and national security concerns. The backlash has momentarily slowed progress on key crypto legislation, including the U.S. stablecoin bill, though it cleared a procedural Senate hurdle this week.

Despite growing scrutiny, Trump’s campaign continues to embrace crypto, a move that could redefine how digital assets and political influence intersect in the 2024 election cycle. The controversy underscores the urgent need for clear crypto ethics rules in U.S. politics.