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Trump’s Crypto Dinner: A Gala of Grit, Gaffes, and Glaring Contradictions!

BBG News
  • Trump hosts crypto dinner, reinforcing U.S. leadership in Bitcoin and digital assets.
  • Maxine Waters proposes a bill banning crypto activities for top U.S. officials amid controversy.

Ah, the much-anticipated crypto dinner hosted by none other than Donald Trump has finally graced us with its presence, attracting a veritable who’s who of political and financial elites. It was like the Oscars, but with more bling and fewer actual awards. 🎉

Set in the picturesque Loudoun County, Virginia, the gala boasted an impressive guest list of 220 influential investors. I mean, who wouldn’t want to rub elbows with the crème de la crème of the crypto world while munching on overpriced hors d’oeuvres?

Trump’s Crypto Claims — Fake or Real?

In the lead-up to this grand soirée, Trump took to Truth Social (because where else would he go?) to reaffirm his unwavering pro-crypto stance. He boldly declared that the United States is not just participating in Bitcoin [BTC] and digital assets; it’s leading the charge! 🚀

He proclaimed,

“Heading to the Crypto Dinner in Loudon County, Virginia, in a little while. The U.S.A. is DOMINATING in Crypto, Bitcoin, etc., and we are going to keep it that way!”

Backing up his claims, recent data from Bitcoin Treasuries shows that the U.S. holds the largest national stash of Bitcoin—approximately 198,012 BTC. That’s right, folks, we’re beating China by a nose with their measly 190,000 BTC. Talk about a nail-biter!

These assets were primarily acquired through government seizures, but Trump has grand plans to rebrand their strategic value. He’s proposed a U.S. Strategic Bitcoin Reserve, which sounds impressive until you realize it’s just a fancy way of saying, “We’re not selling this stuff anytime soon.”

Maxine Waters Takes Aim at Trump’s Crypto Ventures

But wait! Just as Trump’s crypto dinner was stealing the spotlight, a political storm brewed on the horizon. Hours before the event, U.S. Representative Maxine Waters introduced the “Stop Trading, Retention, and Unfair Market Payoffs in Crypto Act of 2025,” affectionately dubbed the “Stop TRUMP in Crypto Act.” Because why not throw a wrench in the works?

“An issuer required to file reports with the Securities and Exchange Commission under section 13 of the Securities Exchange Act of 1934 may not issue or sell, or otherwise transact with respect to, a digital asset on behalf of a covered individual.”

Waters didn’t stop there. She took a direct shot at Trump’s crypto escapades, stating,

“Trump’s crypto con is not just a scam to target investors. It’s also a dangerous backdoor for selling influence over American policies to the highest foreign bidder.”

But not everyone was on the same page. A White House spokeswoman, Karoline Leavitt, came to Trump’s defense, saying,

“All of the president’s assets are in a blind trust, which is managed by his children. And I would argue, one of the many reasons that the American people re-elected this president back to this office is because he was a very successful businessman before giving it up to publicly serve our country.”

Impact on TRUMP Memecoin

Meanwhile, the Official Trump [TRUMP] memecoin was having its own dramatic saga. Initially soaring to $15.12 on May 21st, just before the event, it took a nosedive during early trading hours on May 22nd, only to briefly recover to $15.80 by evening. Talk about a roller coaster ride! 🎢

However, the excitement fizzled out post-dinner, dragging the token down to around $13.76—a 4.95% drop in just 24 hours, according to CoinMarketCap. Ouch! In contrast, Bitcoin was flexing its muscles, trading at $110,796.74 after gaining 6.45% over the past week. Clearly, the market sentiment was as divided as a family at Thanksgiving dinner.

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2025-05-23 16:18

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