Warren, Schiff, and Blumenthal Investigate Trump Mar-a-Lago Memecoin Conference
Senators request documents on whether the President played a role in planning, promoting, and profiting from April 25 crypto luncheon gala
“It is essential that Congress fully understand the extent to which President Trump and his family are profiting off of his cryptocurrency ventures.”
“Congress must also take steps to prohibit and prevent these egregious conflicts of interest.”
Washington, D.C. – U.S. Senators Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, Adam Schiff (D-CA), and Richard Blumenthal (D-CT), sent a letter to Fight Fight Fight LLC, requesting documents, communications, and information about the conference and gala luncheon on April 25, 2026 at Mar-a-Lago to better understand the extent of the President’s role in planning, promoting, and potentially profiting off of the conference.
The conference reportedly limits attendance to the top 297 $TRUMP token holders and offers special VIP access to President Trump to the top 29 holders based on their coin holdings. In the letter, the Senators note that CIC Digital LLC, an affiliate of the Trump Organization, and Fight Fight Fight LLC collectively own 80% of Trump Cards and receive trading revenue from $TRUMP activity.
“The announcement of the Conference ‘set off a quick but brief run-up in the price of the $TRUMP meme coin, which reached $3.08 before tumbling back down,’” the Senators highlighted. “President Trump financially benefits from the market value and activity of the $TRUMP cryptocurrency.”
“Notably, not all $TRUMP holders have benefited from their investment: according to recent reports, $TRUMP – and the First Lady’s meme coin, $MELANIA – “erased an estimated $4.3 billion in retail wealth” in recent months, with “roughly 2 million holders currently underwater” (insiders, however, reportedly made a fortune: forty-five ‘early-deployment wallets’ earned $1.2 billion off the meme coins–meaning that ‘for every dollar insiders earned, retail investors lost $20’),” they continued. “Despite Fight Fight Fight LLC’s promotion of the event as a way for $TRUMP investors to access the President, it remains unclear whether or not President Trump will actually be able to attend.”
“In other words, event organizers are promoting a conference by dangling access to President Trump to potential attendees (and in doing so, are encouraging purchases of his meme coin that will generate transaction fees for the President and his family) on a day he may not actually be able to attend,” they concluded. “We have previously raised concerns with President Trump’s willingness to use the presidency for personal profit – including a similar dinner President Trump promoted for meme coin holders last year. It is essential that Congress fully understand the extent to which President Trump and his family are profiting off of his cryptocurrency ventures. Congress must also take steps to prohibit and prevent these egregious conflicts of interest.”
The Senators are requesting documents in writing no later than April 21, 2026.
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