At a private Mar-a-Lago gathering Saturday, U.S. President Donald Trump forcefully defended a long-sought crypto bill and warned bank lobbyists not to derail it — all while rubbing elbows with top memecoin holders and high-profile industry figures.
The event, billed as “the most exclusive conference in the world,” drew a few hundred of the largest $TRUMP memecoin holders and 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 also attended.
Trump used the forum to reiterate the White House position on the Digital Asset Market Clarity Act, telling bankers they would not be allowed to “ruin” the market-structure legislation. Banking groups had recently persuaded some senators to push back over provisions they say could enable stablecoin rewards programs that threaten traditional deposits — objections that have stalled Senate progress on a new U.S. regulatory framework for crypto. Still, negotiators say the bill could yet be revived and find a path through a compressed congressional calendar, and Trump signaled getting it done is a priority.
“We are the leader in crypto. It's become mainstream,” the president declared, while also touching on foreign-policy issues including Iran and Venezuela and calling NATO a “paper tiger” that is “never there for us.”
The gathering underscores a growing tension between industry enthusiasm and political scrutiny. Trump continues to back crypto ventures tied to his brand, a posture that has won support inside the sector but raised concerns among Democrats negotiating the Clarity Act. They have pushed for rules that would bar senior government officials, including the president, from profiting from the industry — a demand tied directly to Trump’s personal business links to digital-assets projects.
Last year’s memecoin event at his club prompted protests and Democratic accusations that his policy positions could benefit his own business interests. He has also faced criticism for private meetings with unnamed foreign business figures who effectively paid to attend his events — episodes opponents cite as conflicts of interest as Congress weighs how to regulate crypto.
As the Clarity Act’s future remains uncertain, Saturday’s Mar-a-Lago gathering made clear the administration’s intention to keep crypto legislation moving and to resist industry pushback from traditional financial institutions.
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