US President Donald Trump Will Reportedly Hold a Lavish Gala for Major Holders of TRUMP Memecoins

A lavish gala hosted by former US President Donald Trump for major holders of TRUMP memecoins is set for May 22 in Washington, D.C, reports Pintu News. The event will include a tour of the White House for some of the coin holders.

Senator Elizabeth Warren of Massachusetts and Senator Adam Schiff of California have issued warnings that the gala offers private access to the president in exchange for financial investment.

In a joint letter, they stated that Trump’s announcement promised exclusive access to the president in exchange for a large investment in one of Trump’s business ventures. Senator Jon Ossoff, in a town meeting on April 25, stated that this action was an offense that could lead to impeachment.

Senator Cynthia Lummis, who is pro-crypto, also expressed her concerns, saying that the president’s offer of exclusive access made her rethink.

Critics argue that the gala announcement blurred the line between public duty and private business.

The Trump family stablecoin surged to 7th largest in the world because of a shady crypto deal with the United Arab Emirates—a foreign government that will give them a crazy amount of money. The Senate shouldn’t pass a crypto bill this week to facilitate this kind of corruption.https://t.co/7jH1Q8W88v

— Elizabeth Warren (@SenWarren) May 4, 2025

On May 4, Senator Warren posted on X (formerly Twitter) that the Trump family’s stablecoin, USD1, surged in value after a deal with the United Arab Emirates.

According to him, the investment uses USD1 and raises serious concerns regarding national security. The $2 billion investment was made by investment firm MGX Abu Dhabi and announced by Eric Trump at a crypto conference in Dubai.

Data from CoinMarketCap shows that USD1’s market capitalization jumped from less than $137 million on May 1 to more than $2.1 billion on May 2. Critics pointed to the deal as evidence of foreign financial involvement with a sitting US president.

However, Eric Trump defended the crypto initiative in a panel discussion at Token2049 in Dubai, saying that the US sees that the financial world must evolve.

At the same event, he added that the family’s stablecoin project is still in the early stages of development and has a lot more to offer.

During a campaign stop in December 2023, Trump said he would host a gala for the major holders of his memecoin, TRUMP.

He stated that the event would include a tour of the White House for some of the coin holders.

The goal was to raise at least $1 billion for his 2024 campaign and $2 billion for his new family investment firm, Trump Organization, which is focused on private equity, real estate, and blockchain investments.

In a video clip shared by Warren, Trump is seen giving mixed answers when asked if he has made any money from memecoins.

He replied, “I haven't even looked yet.”

This defense suggests vagueness and possible evasion of a sensitive question. Critics argue that this shows a lack of transparency and potential conflicts of interest that could affect the president’s policies.

Overall, the controversy surrounding Trump’s memecoin gala and the spike in the value of USD1 highlights the larger issue of ethics and transparency in government.

This planned event, and the associated financial involvement, will probably continue to be a topic of debate and investigation in political and public circles.

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Reference:บทวิเคราะห์โดย - TokenInsight

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