Senator John Ossoff of Georgia has recently joined the chorus of Democrats in Congress calling for the impeachment of President Trump, despite the fact that he has only been in office for a little over 100 days. Ossoff’s remarks came after Trump hosted a lavish ‘Gala Dinner’ for the top 220 holders of his memecoin TRUMP.
During a town hall on Friday, Ossoff stated, “When the sitting president of the United States is selling access for what are effectively payments directly to him, there is no question that that rises to the level of an impeachable offense.”
The House of Representatives has the authority to impeach any federal official, including the President, for treason, bribery, or high crimes and misdemeanors. However, given the current Republican majority in the House, the likelihood of impeachment remains slim.
Trump has faced impeachment twice during his first term, but was acquitted both times by the Senate. Despite his efforts to position the US as a “Bitcoin Superpower” and his appointment of pro-crypto regulators, concerns have been raised by ethics experts regarding potential conflicts of interest arising from his involvement in various crypto ventures.
In a bid to hold Trump accountable, Senators Adam Schiff and Elizabeth Warren have called for an ethics investigation into whether Trump violated federal ethics rules by offering exclusive access to his top TRUMP investors. They have raised concerns about potential “pay to play” corruption, where presidential access is sold in exchange for money or favors, benefiting Trump personally and possibly even involving foreign or corporate interests.
Although calls for an ethics probe have been made, the investigation is unlikely to progress significantly, given the Republican control of the government and Trump’s appointee leading the ethics office. Trump and his family have been increasingly involved in the crypto space, with plans to launch a new stablecoin and reportedly earning over $350 million in fees from the TRUMP coin since its inception.
The push for impeachment and ethics investigations underscores the growing scrutiny surrounding Trump’s actions and potential conflicts of interest. As the political landscape continues to evolve, it remains to be seen how these developments will impact the future of the Trump administration and the broader crypto industry.