TRUMP Meme Coin Crashes 90% as Gala Triggers Senate Response

- TRUMP meme coin plunges over 90% from peak, hitting new lows after Mar-a-Lago gala news - WLFI token tumbles nearly 75%, fueling new warnings about celebrity-linked crypto risks On April 12, 2026, Cryptopolitan reported that prices for the Solana-based TRUMP meme coin had nosedived more than 90% from their January 2025 high of $73, and the token was then trading close to $2.83. The dramatic sell-off led to broad concerns across the crypto market and highlighted the volatility of celebrity-backed tokens. According to Cryptopolitan on April 12, 2026, the price crash accelerated after President Donald Trump announced an exclusive Mar-a-Lago gala for top TRUMP token holders scheduled for April 25. The announcement raised red flags among U.S. lawmakers about the ethics of offering privileged access based on meme coin ownership, and it quickly drew political scrutiny. In response to the gala news, leading Democratic senators Elizabeth Warren, Richard Blumenthal, and Adam Schiff issued public statements questioning the legality and propriety of linking political influence to cryptocurrency assets, according to Cryptopolitan on April 12, 2026. Their comments intensified scrutiny of Trump’s role in the crypto sector and, as a result, amplified market instability. The downturn in TRUMP was mirrored by a steep fall in WLFI, another Trump-backed coin. Cryptopolitan reported on April 12, 2026, that WLFI had dropped over 19% in the last week and had plunged nearly 75% from its 2025 peak, while controversy grew over large, self-collateralized loans using WLFI on the Dolomite platform. Industry analysts cited by Cryptopolitan on April 12, 2026, said these rapid declines spotlight the risks of investing in celebrity-driven meme coins, and critics warned that such projects may disproportionately enrich their high-profile promoters while leaving ordinary investors exposed to steep losses. According to market data referenced by Cryptopolitan on April 12, 2026, at 09:08 UTC, OFFICIAL TRUMP (TRUMP) was trading at $2.791, down 1.378% over 24 hours, while World Liberty Financial (WLFI) stood at $0.08, up 1.14%.