An elite crypto feast, resulting in TRUMP's overall value shrinking significantly.

Article by: Oluwapelumi Adejumo

Translated by: Saoirse, Foresight News

On April 25th, the White House Correspondents’ Dinner was forced to be interrupted due to gunfire. A man armed with multiple weapons forcibly stormed the security checkpoint of this large event, causing President Donald Trump to evacuate urgently.

Trump posted on Truth Social that U.S. law enforcement officers had subdued the suspect, who was later identified as Cole Allen. Meanwhile, a large number of controversial comments regarding the incident flooded social media.

In the early stages of the incident, Trump initially requested the organizers to “proceed with the event as usual,” but it was later confirmed that authorities had issued an emergency evacuation order according to safety protocols.

He stated that neither the First Lady, the Vice President, nor cabinet members were injured, and later released photos of the suspect being subdued and security surveillance footage.

TRUMP Token Falls to Record Low

This White House security panic marked the end of a tumultuous day. Earlier that day, the crypto market experienced sharp fluctuations related to assets associated with Trump.

On the morning of April 25th, the president hosted 297 large holders of TRUMP Meme Coin at Mar-a-Lago in Florida.

This event was a high-end exclusive gathering, where Trump delivered a keynote speech; among them, 29 top holders were invited to a private reception to toast with him.

This was also the second offline exclusive event for this token hosted by Trump in the past year.

However, the endorsement effect brought by the presidential identity failed to boost the TRUMP token’s market performance. The token’s value plummeted over 97% in the past year.

According to CryptoSlate data, the TRUMP price dropped to as low as $2.52, nearly 20% below the 24-hour high; compared to the peak above $75 during the inauguration frenzy in January 2025, the decline is extremely severe.

The token’s market capitalization evaporated by about $100 million in a single day, leaving only $590 million.

The overall asset shrinkage is staggering. Data from CoinMarketCap shows that the token’s market cap plummeted from nearly $10 billion at the beginning of last year to approximately $618 million at the time of writing.

Trump’s Cryptocurrency Strategy Faces Scrutiny and Doubt

This closed-door estate dinner further intensified external criticism of Trump’s extensive involvement in the crypto space, with U.S. Democratic lawmakers calling for a special investigation.

In addition, ethicists have repeatedly pointed out serious flaws: the deep entanglement of the president’s public authority with his personal speculative digital assets, posing severe and abnormal conflicts of interest.

Criticism and skepticism within the crypto industry have also grown louder. Simon Dedic, founder of venture capital firm Moonrock Capital, sharply criticized:

“This Trump Meme Coin dinner is one of the most damaging events to the reputation of the crypto industry in recent years, with negative impacts even surpassing the FTX collapse and LUNA crash. Those projects at least pretended to be compliant before collapsing; now, the U.S. president is openly leveraging his status to harvest retail investors, even packaging it as a high-end dinner, without any restraint.”

Dedic also pointed out that this Trump-linked token has absorbed over $4.3 billion from retail investors, with 45 internal related wallets profiting up to $1.2 billion.

TRUMP Token Major Holders (Source: Detective)

On-chain analysis shows that most large wallet addresses attending the dinner immediately sold or transferred all their tokens after the event, cashing out en masse.