Congressional Democrats Take Action Against Trump’s Memecoin Dinner
Congressional Democrats are up in arms over U.S. President Donald Trump’s decision to host a dinner for the top holders of his $TRUMP memecoin at the Trump National Golf Club in Potomac Falls, Virginia. The controversial move has sparked lawsuits, legislation, and planned protests from critics who see it as a blatant display of corruption.
Trump’s decision to host the dinner led to a surge in the price of the $TRUMP memecoin, as interested parties scrambled to buy more tokens to secure an invitation. Critics have raised concerns about foreign buyers purchasing tokens, potentially skirting legal restrictions on donations to the president, and the lack of transparency surrounding the dinner’s attendees.
Tron creator Justin Sun made headlines by boasting about being the top holder of the $TRUMP token, with speculation linking the largest wallet to HTX, a crypto exchange associated with Sun.
Legal Challenges and Proposed Legislation
Sen. Richard Blumenthal has been vocal in his criticism of Trump’s memecoin dinner, likening it to auctioning access to the White House. He has hinted at the possibility of legal action to compel Trump to adhere to rules regarding foreign gifts or payments, citing previous lawsuits over constitutional violations during Trump’s first presidency.
Meanwhile, Representative Maxine Waters introduced a bill aimed at making the president’s crypto dealings explicitly illegal. The Stop TRUMP in Crypto Act prohibits senior government officials and lawmakers from owning or trading in digital assets if they have insider knowledge due to their positions.
Protests and Calls for Transparency
Democratic Senators Elizabeth Warren, Jeff Merkley, and Chris Murphy are set to hold a press conference denouncing Trump’s memecoin dinner and demanding transparency regarding the attendees. They are joined by consumer advocacy groups in raising concerns about foreign influence, national security, and corruption within Trump’s crypto empire.
Senator Merkley is also expected to participate in an evening protest near the venue of the dinner, highlighting the growing opposition to Trump’s crypto ventures among Democratic lawmakers.