Donald Trump made an unexpected visit to a Memecoin-themed gala in New York City on Wednesday night, drawing attention and ridicule as protesters outside heckled and denounced crypto insiders for perpetuating scams and corruption.
The former U.S. president, in all his usual navy outfit and red tie, walked into the high-profile event at an upscale hotel near Wall Street. Crypto investors, NFT fans, and blockchain proponents made up the guests at the event, with many of them cheering Trump’s arrival.
Trump, lately reported to be sponsoring some crypto-related initiatives, did not give a full speech but greeted the crowd and posed for photographs with top personalities in the digital asset ecosystem. Attendees at the event informed sources that the event was meant to commemorate the birth of memecoins—low-value cryptocurrencies that gain popularity online because of memes and celebrity backing.
On the sidewalk outside, however, a dozen protesters held signs that read “Crypto = Scam” and “Stop Enabling Fraud” and shouted condemnations of both Trump and the world of cryptocurrency, calling the event a “celebration of digital theft.”
“This is people losing their life savings while elites are partying and laughing. This is not innovation—it’s exploitation,” one protester shouted.
The majority of the criticisms follow recent scandals involving crypto scams, rug pulls, and influencer-marketed tokens that proved to be worthless. The industry has seen increased concern over lack of regulation and increasing cases of fraud.
Trump’s visit to the event was provocative, especially since he has earlier belittled cryptocurrency as “dangerous.” Political analysts, nonetheless, indicate his visit is a move to get the eye of young voters or massive donors in the tech field prior to the 2024 U.S. election.
The Memecoin Gala itself was gaudy, with crypto-themed decor, gold coin centerpieces, and meme-inspired performances. The high ticket prices were paid by those attending, with VIP tables said to cost up to $50,000.
Trump’s involvement has been criticized as being possibly indicative of an underlying political interest in the crypto space, even though he has previously expressed skepticism.
