Trump Meme Coin Slumps 10% Amid Mar-a-Lago Event

Donald Trump's TRUMP memecoin fell nearly 10% in 24 hours on Saturday, the same day he hosted an exclusive event at Mar-a-Lago for top token holders. The token was trading at around $2.67 at the time of publication, down from its all-time high of $75.35 reached in early 2025.

The Saturday gathering brought together 297 of the largest TRUMP investors for a crypto and business conference. A smaller group of 29 top holders attended a VIP reception with a champagne toast.

Democratic Senators Elizabeth Warren, Richard Blumenthal, and Adam Schiff sent a letter to Bill Zanker earlier this month, questioning whether the conference was being used to imply personal access to the sitting president. The senators argued that promoting the event appeared tied to encouraging purchases of the token, which generates transaction fees for the president and his family.