Trump Arranges Two Cryptocurrency Dinners for Month Amidst Escalating Ethics Debate
Heads Up! Crypto Galas and the Trump Scene
Gear up, crypto enthusiasts! Donald Trump is throwing two crypto-themed soirees this month, and you're invited - but it might cost you more than dinner and drinks.
Trump attended a star-studded crypto event on May 5, bumping elbows with the crypto elite at a $1.5 million-per-plate dinner at the Trump National Golf Club in Virginia, hosted by MAGA Inc., his super PAC. David Sacks, the self-proclaimed "crypto czar," was also in attendance.
On May 22, Trump has a special plan for his most loyal crypto supporters - a VIP dinner at his private Trump National Club. But there's a catch - access is based on your wallet's haul of Trump's memecoin, $TRUMP. The top 25 wallets will even score a private White House tour and VIP reception.
Goin' Trump Crazy
The $TRUMP leaderboard is a public showcase of who's got the most coins in their wallets, with usernames and pseudonymous wallets vying for a spot. As of now, the top spots are up for grabs, with the contest closing on May 12.
The cryptoverse has erupted with critiques, as politicians accuse Trump of selling presidential access to wealthy crypto backers. Senators Elizabeth Warren and Adam Schiff even penned a letter, condemning meme coin gala offers for "exclusive access to the presidency in exchange for significant investment in one of the President's business ventures."
Warren has also voiced concerns over the Trump-linked stablecoin USD1, questioning potential foreign influence and national security risks. The coin, co-founded by Trump's son Eric, has seen a surge in value following a $2 billion investment from the MGX Group, causing critics to raise flags.
Red Flags Everywhere
Lawmakers from both sides of the aisle have weighed in, with Senator Jon Ossoff calling the dinner an abuse of power that could be an impeachable offense. Senator Cynthia Lummis, a crypto advocate, and Senator Elizabeth Warren have also expressed concerns about undefined lines between politics and business.
Accountable.US has labeled the event as "the most nakedly corrupt self-enrichment scheme in U.S. presidential history," citing potential foreign influence via the pseudonymous nature of crypto wallets. Tron founder Justin Sun has even been suggested as the largest $TRUMP holder.
As for Trump's participation, his attendance isn't guaranteed, with terms allowing the event to be canceled or substituted with a Trump-branded NFT. But as the say goes, all's fair in crypto and politics, right?
Edited by Sebastian Sinclair
Subscribe to the Daily Debrief Newsletter
Stay informed about crypto scandals, PR stunts, and more! Sign up for our newsletter now.
- The crypto-themed galas hosted by Donald Trump this month, such as the one on May 22 at his private Trump National Club, require significant investment in his memecoin, $TRUMP, for VIP access.
- The $TRUMP leaderboard, showcasing users with the most coins in their wallets, is causing controversy as critics accuse Trump of selling presidential access to wealthy crypto backers.
- Senators Elizabeth Warren and Adam Schiff have penned a letter condemning meme coin gala offers for "exclusive access to the presidency in exchange for significant investment in one of the President's business ventures."
- Warren has also voiced concerns over the Trump-linked stablecoin USD1, questioning potential foreign influence and national security risks.
- Crypto advocates like Senator Elizabeth Warren and Senator Cynthia Lummis have expressed concerns about undefined lines between politics and business in these events.
- Accountable.US labeled the event as "the most nakedly corrupt self-enrichment scheme in U.S. presidential history," citing potential foreign influence via pseudonymous crypto wallets.
- Tron founder Justin Sun has been suggested as the largest $TRUMP holder, and Trump's participation in the events might not be guaranteed, with terms allowing for a substitution with a Trump-branded NFT.
