The $TRUMP token dropped by 7% on Saturday morning, hours after President Donald Trump hosted a black-tie gala at his Virginia golf club. The event was held for holders of his meme coin, who collectively spent $148 million just to attend. Guests were promised access, luxury, and a moment with Trump. What they got instead was bad food, weak security, and a brief fly-by appearance from the president himself. According to CNBC , it was a night that left many attendees frustrated — and some outright angry. Among the 220 people who showed up were crypto figures like Sandy Carter from Unstoppable Domains and former NBA star Lamar Odom, who used the occasion to promote his own token, $ODOM. Trump showed up, said a few words, and left in a helicopter without greeting most of the room. One guest, 25-year-old Nicholas Pinto, said , “He didn’t talk to any of the 220 guests — maybe the top 25.” Pinto added that he had nothing to drink besides Trump-branded wine or water. “I don’t drink, so I had water. My glass was only filled once,” he said. As for the food? “The food sucked,” he said plainly. Guests ignored, wallets tracked, and complaints everywhere The top 25 wallets were promised a special reception and tour. But others like Pinto — who was driven there in a Lamborghini by his dad — left unimpressed and hungry. Trump only stayed 23 minutes, gave a quick speech recycling old crypto lines, then flew off without taking pictures or answering any questions. Pinto noticed that phones were not locked in RFID pouches and said security became an afterthought once Trump was gone. “Once Trump left, they didn’t really worry about anything else,” he said. Inside the ballroom, guests flaunted money. “Richard Mille watches weren’t even rare,” Pinto said. “I saw at least 16 people wearing them.” But he said the energy was off. “Lots of people didn’t even hold the coin anymore. They were checking their phones during dinner to see if the price moved.” Outside the gates, about 100 protesters gathered. One of them was Senator Jeff Merkley, who showed up to support a new bill with Chuck Schumer. The bill — called the End Crypto Corruption Act — aims to stop presidents and high officials from profiting off crypto ventures while in office. Protesters held signs saying “Crypto Corruption” and “Trump is a traitor.” Inside the event, the #1 holder of the $TRUMP coin was Justin Sun, the Chinese-born crypto billionaire. Justin holds over $22 million in the $TRUMP token and $75 million in World Liberty Financial’s token. He’s currently facing SEC fraud charges, although the case has been paused. Justin didn’t seem worried though. “As the top holder of $TRUMP and proud supporter of President Trump, it was an honor to attend the Trump Gala Dinner,” he posted. “Thank you @POTUS for your unwavering support of our industry!” The chaos around the dinner added fuel to what’s becoming a mess on Capitol Hill. Representative French Hill, a Republican from Arkansas, said the Trump family’s involvement in meme coins is “making his work in Congress harder.” Hill is one of the lawmakers behind the GENIUS Act, a bill designed to finally regulate stablecoins. But now, with Trump’s name tied to controversial tokens, he says the gala was “a distraction from the good work we need to do.” The GENIUS Act now faces a serious risk. Senator Josh Hawley added a clause that would limit credit card late fees, which banks hate. It’s now being called a poison pill that could kill support for the whole thing. While the gala was happening, Senate Democrats said they would push for new rules blocking US presidents and top officials from profiting off crypto — a direct challenge to USD1, a stablecoin linked to Trump and launched this spring. If the bill collapses, the damage could go global. JPMorgan, Bank of America, and Citi are reportedly in early discussions about building a US digital dollar. Their plan is to compete with Tether, which now dominates 60% of global crypto transactions. But those banks are waiting for legal clarity. If the GENIUS Act doesn’t pass, the US could lose momentum in the international crypto race. KEY Difference Wire : the secret tool crypto projects use to get guaranteed media coverage
