Pull Up a Chair: Hester Peirce Talks Crypto Regulation and Enforcement
Trump-backed digital currency surges following announcement of exclusive dinner with top investors
In a candid chat on 'The Claman Countdown', SEC commissioner Hester Peirce discusses the thorny issue of crypto regulation.
The internet is abuzz with excitement as a certain meme coin sees a significant surge in value. Guess who's the key player behind this crypto surge? None other than President Donald Trump himself.
On Wednesday, the $TRUMP meme coin spiked over 60% after an announcement that the coin's top 220 investors would be graced with an exclusive invitation to dine with the President next month. That's not all; the top 25 investors would score an ultra-private VIP reception with the Prez and a tour of the Trump National Golf Club in Washington D.C.
But here's the catch - while the invitation card reads "Donald J. Trump President of the United States," there's a tiny disclaimer: "President Trump may not be able to attend, but winners will receive a limited-edition TRUMP non-fungible token (NFT) 'in lieu thereof.'"
This sensational gala dinner is only the latest in a series of crypto-related ventures that Trump and his family have been part of over the past year. These fascinating projects include the crypto exchange World Liberty Financial and the Trump Media & Technology Group's venture into crypto finance.
Touting himself as a "crypto president," Trump promised to make the U.S. the "bitcoin superpower of the world." Since taking office, his administration has been busy reshaping the regulatory landscape for the emerging crypto industry.
However, critics have raised concerns about potential conflicts of interest and influence peddling due to Trump's connection with these cryptocurrency ventures. Tony Carrk, executive director of the government ethics watchdog group, Accountable.US, stated emphatically, "There has never been a clearer case of a President using their office to put money in their pocket, or a greater potential for special interests to buy an administration's favor that could threaten the public interest."
But the White House was quick to respond, with Anna Kelly, the deputy press secretary, stating, "President Trump's assets are in a trust managed by his children. There are no conflicts of interest."
With a history of intriguing crypto projects, Trump's meme coin launched just before his inauguration in January 2025. It reached as high as $74.59 before plummeting to $7.14 on April 7. It recently spiked above $14 during its latest surge and has since settled around $12.24 as of noon on Thursday. Crypto analytics firm Chainalysis found that as of March 12, the coin had generated at least $350 million in fees for entities connected to the President.
Just last week, crypto watchers were expecting the $TRUMP coin to collapse as 40 million new tokens were set to unlock. However, the meme coin's account announced a 90-day delay in the unlocking process.
As the world of crypto continues to evolve, it remains to be seen howTrump's ventures will shape the industry and whether there will be any ethical or financial repercussions.
Fox Business contributed to this report.
Behind the Scenes:
Donald Trump's involvement in various cryptocurrency projects has raised questions about potential conflicts of interest.
Closer Look at Projects
- $TRUMP Cryptocurrency: Launched shortly before Trump's inauguration in January 2025, this meme coin experienced a surge in value following an announcement promising the top 220 investors an exclusive dinner with Trump. The top 25 investors were offered exclusive receptions and tours of the White House[1][3][5].
- World Liberty Financial: Another crypto venture associated with Trump, facilitating activities like borrowing, lending, and investing in cryptocurrencies[2].
Ethical Concerns
- Leveraging Presidential Influence: The exclusive events associated with the $TRUMP cryptocurrency, such as a White House tour, raise ethical concerns about using political power for financial gain.
- Regulatory Influence: Trump, as President, could potentially influence cryptocurrency regulations or public perceptions, impacting the market and his own ventures.
- Transparency and Disclosure: Lack of transparency in Trump's ventures and disclosure of his personal stakes and profits is a point of concern.
- Political Impact: Trump's involvement in cryptocurrency could influence public perception and policy decisions regarding digital assets.
These projects highlight the need for clarity on how Trump's political role intersects with his financial ventures in the fast-evolving sector of cryptocurrency.
- Hester Peirce, SEC commissioner, recently discussed the intricate issue of cryptocurrency regulation, shedding light on the unpredictable world of digital assets amidst the latest surge of a meme coin known as the $TRUMP coin.
- President Donald Trump, in a rather unusual move, has found himself at the center of the crypto markets with the launch of the $TRUMP meme coin, which promises exclusive dinner opportunities with the President himself to its top investors.
- Amidst the flurry of ventures into cryptocurrency by Trump and his family, the $TRUMP coin has served as a significant talking point, with its recent surge raising eyebrows due to potential ethical and financial concerns.
- Disturbing allegations of conflicts of interest and influence peddling have surfaced following Trump's involvement in the $TRUMP meme coin, with critics raising concerns over the use of political power for financial gain.
- With Trump's administration reshaping the regulatory landscape for the emerging cryptocurrency markets, the general news and political circles are closely watching the industry's development andTrump's ventures, as they strive to uncover any ethical or financial repercussions that may arise.
- The cryptocurrency scene has long been a buzzing topic among the general public and traders alike, and with Trump's recent ventures, the industry's impact on politics and potential financial implications are becoming increasingly relevant in the discourse surrounding both crypto markets and political events.
