{"id":494263,"date":"2025-05-23T18:30:24","date_gmt":"2025-05-23T13:00:24","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=494263"},"modified":"2025-05-23T14:33:20","modified_gmt":"2025-05-23T09:03:20","slug":"trumps-crypto-con-under-fire-with-new-bill-hours-before-gala-dinner","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/trumps-crypto-con-under-fire-with-new-bill-hours-before-gala-dinner\/","title":{"rendered":"&#8216;Trump&#8217;s crypto con&#8217; under fire with new Bill, hours before gala dinner"},"content":{"rendered":"<ul>\n<li><em>Trump hosts crypto dinner, reinforcing U.S. leadership in Bitcoin and digital assets.<\/em><\/li>\n<li><em>Maxine Waters proposes a bill banning crypto activities for top U.S. officials amid controversy.<\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Donald Trump\u2019s much-talked-about crypto dinner has finally taken place, drawing hundreds of high-profile guests from both political and financial circles. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Held in Loudoun County, Virginia, 220 influential investors <a href=\"https:\/\/ambcrypto.com\/200-trump-crypto-investors-shell-out-394-mln-for-a-gala-dinner-but-concerns-arise\/\" target=\"_blank\" rel=\"noopener\">attended<\/a> the gala.\u00a0<\/span><\/p>\n<h2>Trump&#8217;s crypto claims \u2014 Fake or real?<\/h2>\n<p><span style=\"font-weight: 400;\">Ahead of the event, Trump took to Truth Social to reaffirm his pro-crypto stance, declaring that the United States is leading in <a href=\"https:\/\/ambcrypto.com\/category\/bitcoin-news\/\" target=\"_blank\" rel=\"noopener\">Bitcoin [BTC]<\/a> and digital assets, and that under his watch, it would stay that way. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">He <a href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/114553573338999017\" target=\"_blank\" rel=\"noopener\">said<\/a>,\u00a0<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">\u201cHeading 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!\u201d<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">Backing Trump\u2019s assertive stance on American crypto dominance, recent data from Bitcoin Treasuries reveals that the United States holds the largest national stash of Bitcoin, approximately 198,012 BTC, surpassing China\u2019s 190,000 BTC. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">These assets were primarily obtained through government seizures, but Trump aims to shift their strategic value. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">He has proposed establishing a U.S. Strategic Bitcoin Reserve, a move that would halt future government sales of seized BTC, contrasting sharply with the liquidation approach taken by previous administrations. <\/span><\/p>\n<h2>Maxine Waters takes aim at Trump&#8217;s crypto ventures<\/h2>\n<p><span style=\"font-weight: 400;\">However, as Trump\u2019s crypto dinner captured headlines, it also triggered a wave of political backlash. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Just hours before the event, U.S. Representative Maxine Waters <a href=\"https:\/\/democrats-financialservices.house.gov\/uploadedfiles\/05.22.2025_final_rm_cmw_cb.pdf\" target=\"_blank\" rel=\"noopener\">introduced<\/a> the \u201cStop Trading, Retention, and Unfair Market Payoffs in Crypto Act of 2025\u201d, aka \u201cStop TRUMP in Crypto Act.\u201d <\/span><\/p>\n<article class=\"text-token-text-primary w-full\" dir=\"auto\" data-testid=\"conversation-turn-358\" data-scroll-anchor=\"true\">\n<div class=\"text-base my-auto mx-auto py-5 [--thread-content-margin:--spacing(4)] @[37rem]:[--thread-content-margin:--spacing(6)] @[72rem]:[--thread-content-margin:--spacing(16)] px-(--thread-content-margin)\">\n<div class=\"[--thread-content-max-width:32rem] @[34rem]:[--thread-content-max-width:40rem] @[64rem]:[--thread-content-max-width:48rem] mx-auto flex max-w-(--thread-content-max-width) flex-1 text-base gap-4 md:gap-5 lg:gap-6 group\/turn-messages focus-visible:outline-hidden\">\n<div class=\"group\/conversation-turn relative flex w-full min-w-0 flex-col agent-turn\">\n<div class=\"relative flex-col gap-1 md:gap-3\">\n<div class=\"flex max-w-full flex-col grow\">\n<div class=\"min-h-8 text-message relative flex w-full flex-col items-end gap-2 text-start break-words whitespace-normal [.text-message+&amp;]:mt-5\" dir=\"auto\" data-message-author-role=\"assistant\" data-message-id=\"174fea78-65c8-4c9a-831f-4ebe86d2dabf\" data-message-model-slug=\"gpt-4-1-mini\">\n<div class=\"flex w-full flex-col gap-1 empty:hidden first:pt-[3px]\">\n<div class=\"markdown prose dark:prose-invert w-full break-words light\">\n<p data-start=\"0\" data-end=\"207\" data-is-last-node=\"\" data-is-only-node=\"\">The proposed law seeks to prohibit senior U.S. officials, such as the president, vice president, Congress members, and their families, from creating, holding, or promoting cryptocurrencies during their tenure.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"flex justify-start\">\n<div class=\"touch:-me-2 touch:-ms-3.5 -ms-2.5 -me-1 flex items-center p-1 select-none -mt-1 duration-[1.5s] focus-within:transition-none hover:transition-none pointer-events-none [mask-image:linear-gradient(to_right,black_33%,transparent_66%)] [mask-size:300%_100%] [mask-position:100%_0%] motion-safe:transition-[mask-position] group-hover\/turn-messages:pointer-events-auto group-hover\/turn-messages:[mask-position:0_0] group-focus-within\/turn-messages:pointer-events-auto group-focus-within\/turn-messages:[mask-position:0_0] has-data-[state=open]:pointer-events-auto has-data-[state=open]:[mask-position:0_0]\">Waters emphasized that the bill is intended to curb the misuse of political power for personal crypto gains, banning any financial involvement in mining, trading, or marketing of digital assets by public officials.<\/div>\n<div><\/div>\n<div class=\"touch:-me-2 touch:-ms-3.5 -ms-2.5 -me-1 flex items-center p-1 select-none -mt-1 duration-[1.5s] focus-within:transition-none hover:transition-none pointer-events-none [mask-image:linear-gradient(to_right,black_33%,transparent_66%)] [mask-size:300%_100%] [mask-position:100%_0%] motion-safe:transition-[mask-position] group-hover\/turn-messages:pointer-events-auto group-hover\/turn-messages:[mask-position:0_0] group-focus-within\/turn-messages:pointer-events-auto group-focus-within\/turn-messages:[mask-position:0_0] has-data-[state=open]:pointer-events-auto has-data-[state=open]:[mask-position:0_0]\">The bill noted,<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<blockquote><p><span style=\"font-weight: 400;\">\u201cAn 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.\u201d\u00a0\u00a0<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">Further, directing this to Trump\u2019s crypto ventures, Waters noted,\u00a0<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">\u201cTrump\u2019s crypto con is not just a scam to target investors. It\u2019s also a dangerous backdoor for selling influence over American policies to the highest foreign bidder.\u201d<\/span><\/p><\/blockquote>\n<p>However, not everyone was on the same page, as <a href=\"https:\/\/www.reuters.com\/world\/us\/trump-draws-global-crypto-investors-with-148-million-meme-coin-dinner-2025-05-22\/\" target=\"_blank\" rel=\"noopener\">reported<\/a> by Reuters.<\/p>\n<p>A White House spokeswoman, Karoline Leavitt, stood up for Trump and said,<\/p>\n<blockquote><p>&#8220;All of the president&#8217;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.&#8221;<\/p><\/blockquote>\n<h2>Impact on TRUMP memecoin<\/h2>\n<p><span style=\"font-weight: 400;\">This coincided with the <a href=\"https:\/\/ambcrypto.com\/trump-73-64-of-investors-expect-a-rally-will-they-be-right\/\" target=\"_blank\" rel=\"noopener\">Official Trump [TRUMP]<\/a> <a href=\"https:\/\/ambcrypto.com\/category\/memecoins\/\" target=\"_blank\" rel=\"noopener\">memecoin<\/a> experiencing a roller coaster ride.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> Initially surging to $15.12 on the 21st of May, just ahead of the event, the token saw a dip during early trading hours on the 22nd of May before briefly recovering to $15.80 by evening. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, momentum quickly faded after the dinner concluded, dragging the token down to around $13.76, a 4.95% drop in 24 hours, according to <a href=\"https:\/\/coinmarketcap.com\/currencies\/official-trump\/\" target=\"_blank\" rel=\"noopener\">CoinMarketCap<\/a>.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> In contrast, Bitcoin maintained strong upward momentum, trading at $110,796.74 after <a href=\"https:\/\/coinmarketcap.com\/currencies\/bitcoin\/\" target=\"_blank\" rel=\"noopener\">gaining<\/a> 6.45% over the past week, signaling diverging market sentiment.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Trump\u2019s memecoin sees rollercoaster trading and lawmakers introduce the \u201cStop TRUMP Act.\u201d<\/p>\n","protected":false},"author":66,"featured_media":494286,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[5824,66,3,4,20],"tags":[6427],"class_list":["post-494263","post","type-post","status-publish","format-standard","has-post-thumbnail","category-memecoins","category-new-news","category-news","category-social","category-trading-view","tag-ambcrypto"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>&#039;Trump&#039;s crypto con&#039; under fire with new Bill, hours before gala dinner - AMBCrypto<\/title>\n<meta name=\"description\" content=\"The $TRUMP memecoin soared, crashed, and confused investors, all within 24 hours. 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