Trump’s crypto gala: ‘Bad food’, poor security, protests at the $148 million event

A black-tie crypto gala hosted by President Donald Trump at his Virginia golf club was meant to reward top buyers of his meme coin, $TRUMP. Instead, it preceded a 16% plunge in the token’s value and ignited fresh concerns among lawmakers and watchdogs, according to a report by CNBC.

The event, touted as “the most exclusive invitation in the world,” drew 220 attendees who had collectively spent $148 million on the token. The top 25 wallets were promised VIP treatment, including a private reception and a tour. As per the report, guests included crypto industry figures like Unstoppable Domains’ Sandy Carter, influencers, and even former NBA player Lamar Odom—who promoted his own $ODOM coin and praised Trump as “the greatest president.”

The report states that many attendees left unimpressed. 25-year-old Nicholas Pinto, who arrived in a Lamborghini courtesy of his father, said the food was subpar, drink options limited to water or Trump’s wine, and that Trump stayed just 23 minutes. “He didn’t talk to any of the 220 guests—maybe the top 25,” Pinto told CNBC. Phones weren’t restricted, and security reportedly loosened once Trump departed via helicopter.

Meanwhile, market confidence in $TRUMP wavered. Attendees checked prices mid-dinner, with several reportedly no longer holding the coin. The opulence of the gathering—marked by Richard Mille watches and designer suits—was undercut by a muted mood and declining token value.

Outside the venue, around 100 protesters rallied against what they called “crypto corruption.” Democratic senators Jeff Merkley and Chuck Schumer were among them, unveiling a proposed End Crypto Corruption Act. Much of the scrutiny centered on top token holder Justin Sun, who attended despite facing paused SEC fraud charges. Sun holds over $22 million in $TRUMP and praised Trump’s “unwavering support” for crypto in a post after the event, according to the report.