Democrats Scrutinize Trump’s Meme Coin Dinner, Raising Ethical Concerns
A private dinner hosted by former President Donald Trump for meme coin enthusiasts is now under intense scrutiny from House Democrats. The event, which gathered cryptocurrency influencers, has sparked an investigation into potential ethical and legal violations.
- The dinner has drawn the attention of House Democrats.
- Representative Jamie Raskin is demanding a list of attendees and probing the source of funds used to purchase cryptocurrencies.
- Ethical and legal questions surround the event, particularly concerning Trump Media Group’s Bitcoin reserve plans and business dealings in the Middle East.
- The meme coin market has seen a decline in market capitalization since the private dinner.
Trump’s meme coin dinner, intended for holders of his official Trump (TRUMP) token, included notable figures such as a Chinese billionaire, a lawyer, and a former basketball star, according to reports. The event has prompted a formal inquiry from House Democrats, who are raising serious concerns about its legality and ethical implications.
Top Attendees at Trump’s Crypto Dinner
Among the key attendees was Justin Sun, the founder of TRON and a Chinese cryptocurrency billionaire who has previously faced charges from the U.S. Securities and Exchange Commission (SEC). Sun is a significant investor in World Liberty Financial, a DeFi firm linked to the Trump family. He also holds a substantial amount of TRUMP tokens, valued at nearly $22 million, and approximately $75 million in World Liberty Financial’s native token.
Anthony Bravo, a Florida-based cryptocurrency investor, was also present. Bravo previously made headlines when he had his girlfriend arrested for allegedly stealing TRUMP tokens worth $850,000 from him.
The co-founders of Delphi Digital and the CEO of Wintermute, a market maker, were also among the guests, along with Trump’s business partner and friend, Bill Zanker.
Democrats Demand Transparency on Funding Sources
House Democrats have initiated an investigation into Trump’s dinner, with Representative Jamie Raskin leading the charge. Raskin has requested a detailed list of dinner attendees and has vowed to investigate Trump’s involvement in the cryptocurrency venture.
Democrats are particularly concerned about the ethical and legal implications of the private dinner, including the expenses involved, the origin of the funds used by attendees to purchase TRUMP tokens, and the potential involvement of foreign governments seeking to influence the White House.
“The publication of this list will also allow the American people to know who is putting tens of millions of dollars in our president’s pocket so that we can begin to figure out what—beyond virtually worthless meme coins—they are getting in return for all this money,” stated Rep. Raskin.
Lawmakers are questioning whether political entities are profiting from coin sales and whether buyers are adhering to disclosure requirements and other legal restrictions typically applied to political campaign donations.
More Scrutiny Ahead
The Trump Media and Technology Group’s plan to raise $2.5 billion from 50 investors to purchase Bitcoin and establish a strategic reserve is also under scrutiny. This move has raised further questions about the Trump family’s cryptocurrency-related business dealings, agreements in the Middle East, and the operations of Fight Fight Fight, a Delaware-registered entity led by Trump’s friend and associate, Bill Zanker. Together, these entities control 80% of the total supply of TRUMP tokens, fueling Democrats’ concerns about Trump’s cryptocurrency ventures.
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