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Democrats propose crypto ban for politicians, protest outside Trump’s memecoin gala

BBG News

When Memecoins Meet Mayhem: The Gala of Giggles and Grit! 🎉💰

Oh, what a splendidly silly day it was! Just hours before the grand spectacle of President Donald Trump’s memecoin gala, a band of merry Democratic lawmakers decided to play the role of the party poopers. They waved their legislative wands and conjured up a bill to tackle what they dubbed the rising tide of “crypto corruption” in the hallowed halls of Washington. 🏛️

Leading the charge was the ever-spirited Rep. Maxine Waters, who, along with 14 other House Democrats, introduced the “Stop Trading, Retention, and Unfair Market Payoffs in Crypto Act of 2025.” Quite a mouthful, isn’t it? It sounds like a spell from a wizarding world where politicians can’t play with digital toys! 🧙‍♂️

This whimsical bill would put a big, fat NO on the president, vice president, members of Congress, and their nearest and dearest from owning, promoting, or profiting from those shiny digital assets while they’re busy running the country. Talk about a party foul! 🎈

But wait, there’s more! Lawmakers would also be forbidden from holding crypto assets in ways that let them pull the strings like puppet masters. “Trump’s crypto con is not just a scam to target investors,” Waters exclaimed, “It’s a sneaky backdoor for selling influence over American policies to the highest foreign bidder.” Oh, the drama! 🎭

As if that wasn’t enough, this legislation popped up just as Trump was getting cozy with the crypto crowd. The president and his glamorous wife, Melania, recently launched their very own personal memecoins. How charming! 💖

And let’s not forget the Trump family’s latest escapades! They’ve backed a stablecoin through the crypto firm World Liberty Financial, and his sons are off mining Bitcoin like it’s gold in the Wild West. Yeehaw! 🤠

Blockchain records reveal that Justin Sun, the founder of Tron and a Chinese national, is one of the biggest holders of TRUMP (TRUMP) — the memecoin that serves as a golden ticket to Thursday night’s dinner. What a tangled web we weave! 🕸️

Protests outside the gala

Meanwhile, outside the exclusive gala at Trump’s golf club in Virginia, a ruckus was brewing! The top 220 $TRUMP holders, some of whom splurged between $55,000 and nearly $38 million in tokens for an invite, were about to enjoy a night of luxury while critics were having none of it. 🎩

Senators like Richard Blumenthal were wagging their fingers, accusing Trump of “auctioning” access to the White House and possibly breaking the Constitution’s ban on foreign gifts. Oh dear, what a pickle! 🥒

Protests erupted outside the event, with Senators Chris Murphy, Elizabeth Warren, and Jeff Merkley, along with Rep. Sam Liccardo and various advocacy groups, declaring Trump’s upcoming “meme coin” fundraising dinner a threat to national security and a potential corruption risk. A note shared with crypto.news revealed their concerns. 📜

At a press conference today, the group demanded the release of attendee names and any promised favors. Murphy also took the opportunity to promote his recently introduced MEME Act, aimed at curbing digital asset profiteering by public officials. Because who doesn’t love a good meme, right? 😂

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2025-05-22 22:47

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