US Lawmakers Should Impeach President Donald Trump for His Decision to Reward Investors

US lawmakers should impeach President Donald Trump for his decision to reward investors who bought his memecoin with a “gala dinner,” according to US Senator Jon Ossoff.

A US lawmaker has said that President Donald Trump should be impeached for his decision to reward investors who bought his memecoin with a “gala dinner.”

There’s “no question” that Trump’s actions rise to the level of an impeachable offense, according to US Senator Jon Ossoff, who made the remarks at a town hall in Georgia on Friday.

The House of Representatives can vote to impeach any federal official, including the president, for treason, bribery and “other high crimes and misdemeanors.”

That triggers an impeachment trial in the Senate. If the president were be found guilty by two-thirds of senators, he would be removed from office.

Trump was impeached twice in his first term. In both impeachment trials, the Senate voted to acquit the president.

In his quest to make the US a “Bitcoin superpower,” Trump has appointed pro-crypto regulators and pushed for new, crypto-specific legislation.

At the same time, the president has launched or backed several crypto businesses, drawing condemnation from ethics experts, congressional Democrats and even Ethereum co-founder Vitalik Buterin, who says the ventures create a conflict of interest.

Crypto businesses linked to Trump or members of his family include stablecoin issuer World Liberty Financial, crypto-based exchange-traded funds, a Bitcoin mining venture and a pair of memecoins named after the president and the First Lady.

On Wednesday, the website for the TRUMP memecoin said the top 220 investors will be invited to a gala dinner with the US President at his Virginia golf club on May 22.

The top 25 holders will also be invited to a VIP reception with the president and receive a tour of the White House.

The memecoin has soared more than 40% since the announcement. Trump and his collaborators own 80% of the token’s supply, a stash worth an estimated $10.8 billion as of Friday.

“I saw just 48 hours ago, he is granting audiences to people who buy his memecoin,” Ossoff, a Democrat from Georgia, told a frustrated crowd at the town hall in a video snippet shared by Georgia political reporter Greg Bluestein.

“In our corrupt political system, it is a standard practice, tragically, for elected officials to grant audiences and time to people in exchange for campaign contributions. He is granting audiences to people who purchase the memecoin that directly enriches him.”

Trump doesn’t direct benefit from the purchase of TRUMP tokens. Still, critics say the token could be used to bribe the president, as any large purchases could drive up the token’s value — and, in turn, Trump’s net worth — as they did immediately after the gala dinner was announced.

Impeachment proceedings could be a long way off, Ossoff conceded. That’s because there’s little chance that Republicans who control the House will turn on the president.

“The only way to achieve what you want to achieve is to have a [Democrat] majority in the US House of Representatives,” Ossoff told the crowd on Friday.