A few hundred top $TRUMP memecoin holders enjoyed some personal time with US President Donald Trump and his high-profile guests on Saturday at an event at his Florida club where Trump warned bankers not to stand in the way of cryptocurrency legislation.
Speaking at the private Mar-a-Lago meeting in Palm Beach, Florida, Trump adopted the stance his White House crypto advisers had taken on the Digital Asset Market Clarity Act, according to a person who attended the conference. He rejected the bank lobbyists who had stalled the legislation, the main political goal of the crypto industry.
The White House won’t let banks screw up legislation on cryptocurrency market structure, Trump said at the event, a finance-focused gathering billed as “the most exclusive conference in the world.”
In negotiations in recent months, banking groups had won over some senators over concerns about how U.S. regulations would pave the way for stablecoin rewards programs that bankers say could threaten their traditional deposit accounts. The objection derailed the Senate’s progress in the effort to achieve a new US regulatory regime for cryptocurrencies, although recent discussions suggest the bill could still get back on track and has a potential path to surviving a stricter legislative calendar this year. Trump has indicated that this is a priority.
The president’s event featured a roster of cryptocurrency executives and investors, including Tether CEO Paolo Ardoino, Ark Invest’s Cathie Wood, and Anchorage Digital CEO Nathan McCauley. Boxer Mike Tyson was also present.
Beyond cryptocurrencies, Trump addressed foreign policy issues, including Iran, Venezuela and NATO, which he described as a “paper tiger” that is “never there for us.”
As for the digital asset industry, Trump stuck to his usual script: “We are the leader in crypto. It has become commonplace,” he said.
The conference comes as Trump continues to back crypto companies linked to his name, attracting both industry support and political scrutiny. His close personal connections to digital asset companies have been one of the other sticking points in passing the Clarity Act, as Democratic negotiators have insisted that top government officials, including the president, be prohibited from profiting from the industry.
A previous event he appeared at for his memecoin investors last year sparked protests and Democratic criticism that his politics aim to benefit his own business interests in an example of government corruption that must stop. He was also criticized for meeting privately with anonymous foreign businessmen who had effectively paid for his attendance.
