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citizens for responsibility and ethics in washington
'Fuck This Coin': Trump Crypto Gala Admission Price Plummets as Meme Coin Value Down Over 90%
The president and his family made billions off Trump meme coins while investors got fleeced.
Apr 24, 2026
The price to attend Saturday's second "VIP reception" for investors in President Donald Trump's meme coin has plunged nearly as much as the cryptocurrency itself, leaving investors bamboozled and bankrupt.
Meme coins are highly volatile cryptocurrencies inspired by internet memes, jokes, or cultural trends. While many thousands of meme coins are introduced daily, the overwhelming majority of them fail after a short period as influencer-driven hype and investor "FOMO"—fear of missing out—subside.
The president's $TRUMP meme coin debuted just before his January 2025 return to the White House. Its price soared by more than 50% after its website announced last April that the coin’s top 220 investors would be invited to a private gala dinner with the president. The watchdog Citizens for Responsibility and Ethics in Washington (CREW) revealed that invitees included dozens of investors in crypto assets named after white supremacist and outright Nazi themes.
However, even then, $TRUMP was already down significantly from its high of over $75 just after its launch. On Friday, it was trading at less than $3, and the top-tier entry price to Saturday's gala at the president's Mar-a-Lago resort in Palm Beach, Florida is indicative of that precipitous plunge.
Tomorrow, President Trump will host an event for 297 $TRUMP memecoin holders at Mar-a-Lago. It’s the second time in less than a year that the president has offered special access to people who can afford to buy enough of his memecoin—and it’s somehow even worse than the first.🧵
— CREW (@citizensforethics.org) April 24, 2026 at 7:36 AM
According to the Financial Times, the 29 premier access attendees of Saturday's event held a median investment of $539,000. That's nearly 84% less than the $3.28 million median investment they had prior to last year's gala. Furthermore, the newspaper reported that many premier access winners have apparently liquidated their $TRUMP holdings since securing their VIP spots.
“Nobody likes it,” Morten Christensen, a crypto investor who went to last year's gala and plans on attending the Mar-a-Lago dinner, told Politico Thursday. “People are losing on the coin, and they are vocal. They are the people on Twitter like, ‘Fuck this coin’ or, ‘It’s a scam.’ And they’re right, basically.”
That's not stopping the gala organizers from touting what they're calling “THE MOST EXCLUSIVE CRYPTO & BUSINESS CONFERENCE IN THE WORLD!”
As Politico reported Thursday:
It is open to the top 297 $TRUMP investors, who will get the chance to hear from an eclectic lineup of speakers that includes several crypto executives, boxing legend Mike Tyson, motivational coach Tony Robbins, and Trump, who will speak during the event’s luncheon, according to promotional materials. He is expected to be in Washington later in the day for the White House Correspondents’ Dinner.
While $TRUMP investors may be losing big, Trump and his family have made billions of dollars in crypto profits, while the Trump family and the coin's creators raked in $320 million in trading fees, even as the coin's value tanked.
A small group of elite investors has likewise been spared severe losses, including insiders who bought up $MELANIA, First Lady Melania Trump's meme coin, prior to its launch, a practice known as "sniping" that netted them around $100 million, according to the Financial Times.
$MELANIA launched on the eve of Trump's second inauguration and soared to an all-time high of $13.73 on Inauguration Day. It's now trading at $0.12, a 99% dive. Investors subsequently sued $MELANIA's creators, alleging that it's part of a fraudulent "pump-and-dump" scheme in which they manipulated the launch of $MELANIA and other coins in order to enrich themselves while later investors got wiped out.
That's not the only lawsuit targeting the president's family over alleged crypto fraud. Billionaire investor Justin Sun is suing World Liberty Financial, a cryptocurrency firm co-founded by Trump and his sons, accusing the company of illegally blocking Sun from selling up to $1 billion worth of digital tokens. Sun said last year that he's the world's largest single holder of the president's meme coin.
Last year, US Sens. Elizabeth Warren (D-Mass.), Adam Schiff (D-Calif.), and Richard Blumenthal (D-Conn.), as well as Rep. Jamie Raskin (D-Md.), launched investigations into $TRUMP events.
“He’s normalized his corruption,” Blumenthal said of Trump during a Thursday interview, adding that the Mar-a-Lago gala is “simply another way to generate more money for himself, profiting directly from his office."
Trump—who once said he's "not a fan" of cryptocurrencies, "whose value is highly volatile and based on thin air"—has pushed crypto since returning to office, most notably in a January 2025 executive order calling for the establishment of a working group on digital assets to explore the possibility of creating a “national digit asset stockpile," a top crypto industry wish list item.
“It is literally cashing in on the presidency—creating a financial instrument so people can transfer money to the president’s family in connection with his office,” Campaign Legal Center executive director Adav Noti said last year.
Experts have warned prospective investors about the dangers associated with $TRUMP.
“Two exclusive promotional events offering access to the president created temporary price increases but did not reverse the long-term downward trend,” Marquette University finance professor emeritus David Krause wrote last month.
“With approximately 80% of the token supply controlled by Trump-affiliated entities and over $324 million in trading fees accruing to insiders, the token raises significant questions about the alignment of promotional activities with retail investor protection,” Krause added. “As political meme coins continue to emerge, the $TRUMP token may serve as a cautionary case for the risks of speculative assets tied to political figures.”
Looking forward to Saturday's Mar-a-Lago gathering—which Trump may not even attend, according to small print on the event's website—CREW said Wednesday that "like the first event, Trump will almost certainly host holders of alt-right and racist coins, foreign attendees—including those with potential ties to foreign governments—and people seeking favors."
"This weekend will provide a prime example of the level of corruption and profiteering that no other president would have even dreamt of engaging in, but Trump is comfortable doing so openly," the group added.
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‘Ruthlessly Corrupt’: Democrats Take Aim at Trump's ‘Plunder’ of US Taxpayers in New Bill
Sen. Elizabeth Warren said the bill would stop Trump from "trying to snatch up billions of taxpayer dollars to line his own pockets and settle personal scores."
Apr 15, 2026
Four Democratic lawmakers on Wednesday unveiled legislation aimed at ending what they described as President Donald Trump's "plunder" of US taxpayers.
The Ban Presidential Plunder of Taxpayer Funds Act—cosponsored by Sens. Chuck Schumer (D-NY) and Elizabeth Warren (D-Mass.) and Reps. Jamie Raskin (D-Md.) and Dave Min (D-Calif.)—was crafted in response to Trump's effort to get the federal Internal Revenue Service to hand him a $10 billion settlement for the 2020 leak of his tax records and his demand that the US Department of Justice (DOJ) pay him $230 million over its past criminal investigations of him.
Among other things, the bill would bar both the president and the vice president, as well as their immediate family members, from collecting settlement payments from the federal government while in office.
The proposed legislation would also prohibit both the president and the vice president from filing administrative claims for damages while in office, and would only allow presidents and vice presidents to "collect compensatory damages awarded by a federal court if the court appoints an independent counsel to represent the agency and makes all proceedings public."
The bill allows former presidents and vice presidents to collect damages from the federal government, but only if the agency being sued "appoints career expert staff to lead the agency’s review or adjudication of any administrative claim brought by the former president/VP, and no official appointed by any president/VP is involved in handling the claim."
Additionally, any settlement made to a former president or vice president must be made public within seven days.
Warren said that the legislation was necessary to stop Trump from "trying to snatch up billions of taxpayer dollars to line his own pockets and settle personal scores."
Raskin accused Trump of exploiting the power of his office to "loot billions of dollars from American taxpayers," an operation that he described as the "ongoing scandal of this ruthlessly corrupt administration."
"The ‘Ban Presidential Plunder of Taxpayer Funds Act’ will prevent the president from pursuing the emerging MAGA grift of suing the government as a ‘plaintiff’ on bogus grounds," Raskin added, "and then settling the suit as ‘defendant’ for big bucks, a collusive settlement scam they recently executed with the disgraced former National Security Adviser Michael Flynn, who waltzed off with more than a million dollars for a bogus claim already dismissed by a federal court."
Flynn settled with the DOJ last month in a case in which he accused the government of "improperly and politically" targeting him, after he was charged with making false statements to the FBI in 2017.
The Democrats' bill has earned the endorsements of government watchdogs Democracy Defenders Action, Common Cause, Citizens for Responsibility and Ethics in Washington (CREW), and the Project on Government Oversight (POGO).
Debra Perlin, vice president of policy at CREW, praised the bill for establishing "common sense guardrails to protect against corrupt payouts to the president and the vice president during their terms in office and after they depart."
"Since returning to office, Donald Trump keeps finding troubling new ways to enrich himself at the taxpayers' expense," Perlin noted. "The president’s lawsuit against the IRS for $10 billion is emblematic of a pattern of self-dealing and corruption that appears pervasive in his administration."
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Dems Introduce Bill to 'Stop Apparent Bribery Involving Trump Ballroom Donations'
"Billionaire companies are bankrolling Trump’s ballroom and it stinks of bribery," said Sen. Elizabeth Warren.
Nov 18, 2025
Amid concerns over President Donald Trump's White House ballroom, a pair of Democratic US lawmakers on Tuesday introduced legislation "to root out apparent bribery and corruption" involving the $300 million project.
Sen. Elizabeth Warren (D-Mass.) and Rep. Robert Garcia (D-Calif.) introduced the Stop Ballroom Bribery Act, described by Warren's office as "the first piece of legislation addressing the ballroom that would impose donation restrictions."
“Billionaires and giant corporations with business in front of this administration are lining up to dump millions into Trump’s new ballroom—and Trump is showing them where to sign on the dotted line," Warren said in a statement. "Americans shouldn’t have to wonder whether President Trump is building a ballroom to facilitate a pay-to-play scheme for political favors. My new bill will put an end to what looks like bribery in plain sight."
Billionaire companies are bankrolling Trump’s ballroom and it stinks of bribery.That’s why @robertgarcia.house.gov and I introduced a bill to crack down on this potential corruption.
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— Elizabeth Warren (@warren.senate.gov) November 18, 2025 at 11:16 AM
Garcia said: "Donald Trump is raising hundreds of millions of dollars to build himself a White House ballroom at a time when millions of American families can barely make ends meet. It's outrageous that the White House won’t reveal who’s bankrolling Trump’s pet project, and that the people’s house could be funded by shady figures, corrupt money, and bad actors."
"This bill will ban contributions from anyone with a conflict of interest, prevent bribery, and ensure we can hold any administration accountable for blatant corruption," he added.
Noting that many of the "wealthy individuals, corporations, and organizations" funding the ballroom "need something from the Trump administration," Warren's office flagged "serious concerns of quid-pro-quo arrangements and possible bribery."
"Ethics experts have argued that the apparent pay-to-play relationship between Trump and business leaders oversteps the norms of presidential behavior and could erode Americans’ trust in government," the senator's office added.
As Warren's office noted:
Key ballroom donors currently have business interests in front of the Trump administration. For example, Google, which recently donated $22 million to settle President Trump’s censorship lawsuit against YouTube, will benefit if Trump’s [Department of Justice] decides not to appeal a recent judicial ruling in a relevant antitrust case. Meanwhile, Union Pacific Railroad is seeking federal approval of a lucrative merger and Palantir is working to get more federal contracts.
The White House has refused to be fully transparent, publishing only a noncomprehensive donor list missing multiple key donors and offering donors anonymity. Donations for projects like the ballroom are often channeled through the National Park Service and philanthropic partners; nonprofits with formal ties to property used by the president and [Vice President JD Vance] raise unique conflict-of-interest risks when fundraising from individuals and corporations with interests in front of the federal government.
The Stop Ballroom Bribery Act would:
- Impose pre-donation restrictions, including banning contributions from entities and individuals that present a conflict of interest, make it clear that donations cannot be conditioned on receipt of benefits from the federal government, require congressional approval for foreign donations, and proscribe the president and other senior officials and their families from taking donations;
- Impose post-donation restrictions, including banning the display of donors’ names and logos, enact a two-year cooling-off period before a donor to a covered project can lobby the federal government, and prohibit conversion of leftover donated funds to anyone’s personal use or to benefit the president and other senior officials and their families;
- Require transparency, including the disclosure of any meetings with senior federal officials or their relatives within a year of the donation, and mandate National Park Service publication of all donations to covered projects and ban anonymous donations; and
- Enable enforcement, judicial review, and the pursuit of civil and criminal penalties for violators.
"President Trump's decision to unilaterally destroy the East Wing of the White House to build a ballroom financed by wealthy individuals and corporations not only ignores our country's laws but raises serious ethical concerns—namely, whether individuals and corporations funded this project in the hopes of buying access and influence," said Debra Perlin, vice president for policy at Citizens for Responsibility and Ethics in Washington (CREW), which supports the legislation.
Virginia Canter, chief counsel and director for ethics and anticorruption at Democracy Defenders Action—another backer of the bill—said that "over the past year, President Trump has raised millions of dollars for vanity projects at the White House—like paving over the Rose Garden and demolishing the beloved East Wing."
"These funds have come from private donors without meaningful transparency or accountability,” Canter added. “The highest office in the land should never be for sale, nor should it ever appear to be."
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