Intense public criticism has come up about the Trump Memecoin Event taking place on May 22, 2025, at Trump National Golf Club. They regard it as a dishonest transaction for presidential visits.

President Trump promised the holders of his $TRUMP memecoin in the top 220 spots that they would be invited to the dinner. Pretty quickly, the public started to talk about bribery and possible unconstitutional actions.

Key-Takeaways:

• Critics complained that the Trump Memecoin Event might involve bribery and influence from foreign sources, leading to lawsuits, a DOJ inquiry and fresh legislation.
• While there are those who want strict rules for crypto, others focus on stablecoins which reveals that opinions about crypto’s role in politics are very divided.

Democrats in Congress are Threatening Lawsuits

Democrats have taken a number of lawsuits against the Trump Memecoin Event. Richard Blumenthal, the Senator, is taking the lead and looking into how these actions might break constitutional laws.

Blumenthal said the event was a way to “auction off” entry to the White House. He called Trump out for trying to sell his office’s influence.

The senator from Connecticut said he is ready to bring lawsuits against states. He is looking to target any possible violations of the foreign emoluments clause, much like he did during Trump’s time in office.

Thirty-five members of Congress have requested that the Justice Department look into the Trump Memecoin Event. An official letter to the Public Integrity Section was created, asking for actions to be taken right away.

Ritchie Torres, who is positive about cryptocurrency, is included as is Brad Sherman, who often voices doubts. Many of them warned that governments from outside could be effectively buying influence by secretly purchasing crypto assets.

The letter lists possible infractions of the federal laws on bribery. It includes worries about possible violations of constitutional emoluments clauses.

The Senator said there was a possibility that private groups could challenge the Trump Memecoin Event in court. He explained that lawmakers could support these matters by offering their views in amicus briefs.

Central to the arguments is the part of the Constitution that says public officials cannot accept money from foreign entities. It can happen without the approval of Congress.

A New Law Concerns Presidential Crypto Activities

In response to the Trump Memecoin Event, Representative Maxine Waters introduced the Stop TRUMP in Crypto Act. Under the bill, senior government officials would no longer be permitted to hold or influence cryptocurrency companies.

Waters, who serves as the top Democrat on the House Financial Services Committee, harshly criticized Trump over crypto. She called out his attempt to promote questionable cryptocurrency companies through the White House for his own advantage.

The legislation is similar to past proposals from Senator Chris Murphy’s MEME Act and Representative Sam Liccardo’s House bill. They are designed to prevent officials from trading digital assets with information that sources ahead of others.

They are a direct result of issues addressed at the Trump Memecoin Event. They want to narrow the differences between what is moral and what governments allow in crypto spaces.

The event with Trump Memecoin has brought disagreements among Democrats about crypto policy. A number of individuals fiercely denounce both the dinner and crypto.

At the same time, a different group of Democrats has joined with Republicans to support stablecoin legislation. While they admit Trump’s behavior is concerning, they see no reason to implement more limits on cryptocurrency.

A number of protests were held to go along with the Trump Memecoin Event, with Public Citizen and Our Revolution leading marches close to the golf club venue. Attending the protest that evening was the Oregon Senator Jeff Merkley, while Arlington and Loudoun Democrats encouraged responsibility for presidential actions with their separate events.

Consumer advocacy groups issued statements suggesting that the Trump Memecoin Event gave foreign governments a way to benefit by buying so-called memecoins for presidential access. According to the spokesperson, it is wrong for American foreign policy to be bought or sold and the event was seen as a questionable gift from foreign bodies.

Senators Elizabeth Warren, Jeff Merkley and Chris Murphy invited the media to hear their demands for details about people who attended the Trump Memecoin Event. She called the meeting an “accumulation of corruption.”

She said that Justin Sun, who is known to hold many of the Tron tokens, was reported to be in attendance. The senators pointed out that wallets connected to foreign countries, as well as anonymous transactions, may have been involved in the event.

Among those present at the Trump Memecoin Event were Justin Sun, Vincent Liu from Kronos Research, Oh Sangrok from Hyperithm and Kain Warwick from Synthetix. Lawmakers were particularly troubled by Sun’s claim to be the biggest token holder and blockchain experts found links between Sun’s wallet and the HTX exchange.

Everyone who attended was said to have passed background checks and to be from countries outside of “Know Your Customer watchlist” lists, but the full list of guests was not released. Twenty-five tokenholders were entitled to attend special VIP tours at the White House, but there wasn’t any information shared about what these tours might involve.

Conclusion

Democrats have become even more opposed to presidential crypto actions following the Trump Memecoin Event. The situation caused many legal actions, new proposals and protest marches over corruption and foreign impact.

It has been said that the dinner lets high-value investors gain VIP access that campaign rules don’t grant. Both crypto regulation and ethics related to the president are now mainly focused on the controversy.