The TRUMP Party Concludes Smoothly Despite Ongoing Criticism

On the morning of May 23, 2025, a lavish dinner hosted by President Donald Trump for top holders of the TRUMP token concluded at the White House. During the event, Trump reportedly shared his vision for the future of cryptocurrency, pledging to make the U.S. the “crypto capital of the world.” However, the event sparked a wave of intense political criticism, raising concerns about the risk of “buying power” through memecoins.

Among the guests, Justin Sun—the founder of TRON—claimed to own the largest TRUMP wallet. Blockchain data showed this wallet is linked to HTX, a foreign-based exchange, raising national security concerns and the influence of external forces on U.S. politics. Questions about the transparency of political funding grew more serious.

Despite the controversy, the TRUMP token price rose 10% ahead of the event, reaching a peak of $15.8 before stabilizing at $14.5—the highest in the past month.

However, the reaction from lawmakers was highly critical. Senator Richard Blumenthal, who previously sued Trump during his first term for violating foreign benefit clauses in the Constitution, called the event “an auction for seats in the White House.” He stated he was prepared to refile the lawsuit if necessary, emphasizing that civil organizations could sue with support from lawmakers.

Just hours before the dinner, Representative Maxine Waters introduced the “Stop TRUMP in Crypto Act,” aimed at prohibiting senior officials from owning, trading, or operating cryptocurrency organizations. This bill mirrors a proposal from Representative Ritchie Torres. Waters criticized Trump for exploiting his position to profit from opaque crypto projects that do not provide real value.

On the same day, Senators Elizabeth Warren, Jeff Merkley, and Chris Murphy held a press conference at the Capitol, joined by consumer protection organizations. They collectively demanded that Trump publicly disclose the guest list for the dinner.

“With wallets linked to foreign entities, untraceable transactions, and media access denied, this event raises a red flag about foreign influence, national security, and corruption in Trump’s crypto empire,” they emphasized.

Warren, Chair of the Senate Banking Committee, called it “a debauched feast of corruption.”

Senator Murphy asserted, “Even if the guest list is made public, this is still misconduct. But at least we know who paid to access him.”

However, there were divisions within the Democratic Party. Some members argued that while Trump’s actions may be wrong, introducing new crypto legislation is unnecessary. This viewpoint created a rift amid a rare bipartisan agreement on stablecoin legislation, complicating the debate further.

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