A few hundred of $TRUMP’s top memecoin holders were treated to a personal moment with US President Donald Trump and his distinguished guests on Saturday at an event at his Florida club where Trump warned bankers against obstructing crypto legislation.
Speaking at the private Mar-a-Lago gathering in Palm Beach, Florida, Trump echoed the position his White House crypto advisers had taken on the Digital Asset Market Clarity Act. He pushed back against bank lobbyists who had blocked the legislation – the crypto industry’s main political goal.
The White House won’t let banks ruin crypto market structure legislation, Trump said at the event, a largely finance-focused gathering billed as “the world’s exclusive conference.”
In negotiations in recent months, banking groups convinced some senators to express concern about how U.S. regulations would pave the way for stable rewards programs that bankers say could threaten their traditional deposit accounts. The Senate objection derailed progress in efforts to secure a new U.S. regulatory regime for crypto, although recent discussions suggest the bill could still get back on track and could potentially survive a tighter legislative timetable this year. Trump has signaled that this is a priority.
The chairman’s event featured a roster of crypto 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 crypto, 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 assets industry, Trump stuck to his usual script: “We are the leader in crypto. It’s become mainstream,” he said.
The conference comes as Trump continues to support crypto projects linked to his name, attracting both industry support and political scrutiny. His close personal ties to digital asset companies were among the other sticking points during the passage of the Clarity Act, as Democratic negotiators insisted that top government officials, including the president, be barred from profiting from the industry.
A previous event he attended for his memecoin investors last year sparked protests and Democratic criticism that his policies are intended to benefit his own business interests, an example of government corruption that must stop. He was also criticized for meeting privately with unnamed foreign affairs figures who actually paid for their attendance.