TRUMP memecoin drops after Mar-a-Lago gala; spot BTC ETFs $2.12B

Donald Trump’s official TRUMP memecoin fell about 10% in a 24-hour period after a closed-door investor gala at Mar-a-Lago. The token traded near $2.67 on Saturday.

The event brought together 297 of the largest TRUMP holders for a conference and a VIP reception attended by 29 people. The coin is down more than 96% from its early-2025 peak of $75.35. Organizers held a similar contest-style gathering for top holders last May.

Over the same period, US spot Bitcoin exchange-traded funds posted nine straight days of net inflows totaling about $2.12 billion between April 14 and April 24. The busiest day was April 17, when funds attracted about $663.91 million. April 14 added roughly $411.50 million and April 22 about $335.82 million. The smallest daily inflow was $14.45 million on Friday.

On the weakest day, BlackRock’s IBIT led inflows with $22.88 million. Fidelity’s FBTC recorded $1.69 million in outflows. Bitwise’s BITB and ARK 21Shares’ ARKB saw withdrawals of $8.85 million and $9.02 million, respectively. Grayscale’s GBTC and several smaller products reported largely flat activity.

The April streak is the first nine-day run for US spot Bitcoin ETFs since October, when funds recorded single-day inflows of $1.21 billion and $875.6 million on consecutive days.

Separately, the Department of Justice announced that 22-year-old Evan Tangeman of California was sentenced to 70 months in prison for his role in a criminal organization that stole about $263 million in cryptocurrencies. Tangeman pleaded guilty in December 2025 to laundering at least $3.5 million of stolen funds, which prosecutors say were spent on luxury goods, exotic cars and real estate. The DOJ said he attempted to destroy evidence after co-conspirators were arrested.

Jeanine Pirro, the US Attorney for the District of Columbia, described the enterprise as “built on greed so brazen it borders on the cartoonish.” She added that Tangeman’s attempt to destroy evidence reflected “consciousness of guilt.”

Prosecutors tied the sentence to a wider rise in attacks and social-engineering schemes that target cryptocurrency users, noting law enforcement reports increased use of violence and fraud tactics to steal digital assets.