Two rallies and two press events have been announced by Democratic lawmakers and advocacy organizations in advance of the May 22 memecoin gathering scheduled to be held at the U.S. president’s golf club.
Plans to protest what has been described as the sale of access to the office of the U.S. president have been announced by Democratic-leaning organizations and members of Congress, referring to Donald Trump’s upcoming memecoin dinner on May 22. It has been reported that attendees of the event collectively spent over $100 million for the opportunity to meet with the president.
Following the announcement by the Official Trump (TRUMP) memecoin project that the top 220 tokenholders would be granted an opportunity to apply for an exclusive dinner with the president, criticism has been voiced by numerous U.S. lawmakers and leaders within the crypto industry. The event has been condemned as potentially exposing the presidential office to bribery and corruption.
Support for crypto-related legislation in Congress, including the market structure and stablecoin bills, has been withdrawn by some Democratic lawmakers following the announcement of the memecoin dinner.
It was stated by a spokesperson for the consumer advocacy group Public Citizen—an organization planning to protest near the May 22 memecoin dinner—that “Trump collecting gifts from foreign governments is unconstitutional.” The spokesperson added that accepting investments from foreign governments through his memecoin is not much better, emphasizing that American foreign policy should not be placed for sale.
Tokenholders expected to attend the dinner at the Trump National Golf Club near Washington, DC, include notable crypto industry figures such as Tron founder Justin Sun, Kronos Research chief investment officer Vincent Liu, Hyperithm co-CEO Oh Sangrok, and Synthetix founder Kain Warwick. According to the memecoin project, all applicants were required to undergo a background check and were barred from participating if they originated from a “[Know Your Customer] watchlist country.”
A rally near the golf club will be held by Public Citizen in collaboration with the progressive political group Our Revolution, with Oregon Senator Jeff Merkley expected to be in attendance. Additionally, a separate gathering will be hosted by the Arlington and Loudoun Democrats to call on U.S. officials to “hold [Trump] accountable.” Two press events have also been scheduled by Democratic leadership in Congress on May 22, prior to the memecoin dinner.
It was stated by Ryan Ruzic, chair of the Loudoun County Democratic Committee, that “President Trump’s belief that positions of power are solely for personal gain will not be accepted by Americans.” He further emphasized that a moral obligation exists to speak out against corruption, regardless of the potential consequences.
TRUMP Memecoin Backlash Sparks Disruption in Crypto Lawmaking
Opposition to the passage of the GENIUS Act—a bill aimed at regulating payment stablecoins—was initially expressed by some lawmakers who pointed to the memecoin dinner and the Trump family’s ties to the crypto firm World Liberty Financial. The company’s issuance of its own USD1 stablecoin in March raised concerns over potential conflicts of interest involving Trump. Nevertheless, the legislation advanced with Democratic support by passing a crucial procedural vote in the Senate on May 19, positioning it for formal debate in the chamber.
A statement made by Senator Mark Warner prior to the May 19 vote expressed that “very real concerns are held by many senators, including myself, regarding the Trump family’s use of crypto technologies to bypass oversight, conceal questionable financial activities, and gain personal profit at the expense of everyday Americans.” He added, however, that such corruption must not prevent recognition of a broader truth: blockchain technology is here to stay.
The GENIUS Act was opposed by Senator Chris Murphy, who urged bipartisan cooperation to revise the bill with provisions explicitly prohibiting a U.S. president from issuing stablecoins. Additionally, a request was made by Murphy for the White House to disclose the full list of attendees at the memecoin dinner, implying that some, if not all, participants might attempt to gain favors from the president in return for their token purchases.
Senators Chris Murphy and Elizabeth Warren are scheduled to participate in a press event on May 22 alongside representatives from Public Citizen. On the same day, a separate press conference will be held by California Representative Maxine Waters, the ranking member of the U.S. House Financial Services Committee, during which a bill is expected to be introduced aiming to “block Trump’s memecoin and put an end to his crypto-related corruption once and for all.”
By May 21, the total number of individuals attending the dinner had not been disclosed. A select group of 25 tokenholders had additionally qualified to apply for a “VIP tour” and reception—presumably to be held at the White House—with former President Trump. However, the full list of expected participants had not been made public at the time of reporting.
