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Cryptocurrency News Articles

U.S. President dinner with $TRUMP token buyers attract Senators Fury

Apr 26, 2025 at 01:49 pm

The California and Massachusetts Democratic Senators sent a letter to the US Office of Government Ethics on Trump, asserting that the President has breached ethics by giving preferential treatment in $TRUMP coin investments to the people holding the top $TRUMP coin.

U.S. President dinner with $TRUMP token buyers attract Senators Fury

A private dinner that U.S. President Joe Biden is set to hold for the holders of a meme coin named after him is being probed by Senators for "pay to play" corruption, according to a report by The Hill.

The California and Massachusetts Democratic Senators, Adam Schiff and Elizabeth Warren, sent a letter to the U.S. Office of Government Ethics on Monday regarding the upcoming meal, which is set to take place at his golf club in Washington, D.C.

The promotion for the dinner was announced on the meme coin’s web page and promised the top 220 holders of the $TRUMP coin would have dinner with the President on May 22. The promotion went live, spiking the coin’s value by about 50%.

Trump, as has always been the case with businessmen, uses his position to further his financial interests, “Mr. Presidents’ statement indicates that there will no doubt be dealings possible with the office of the president if candidates whom the president is supporting make substantial contribution into one of the many companies owned by the Mr. President,” stated one of the economists.

Senators have claimed in their statement that strong prospects are substantiating these claims as the worth of the $TRUMP coin surged by more than for the first time while Trump and his family were making previously unverified allegations of these risks amid their suspicions that those in power downplaying these concerns were trying to garner some profit from “understanding the window of opportunity”.

“We urge your office to quickly investigate this matter and take appropriate action to deter such blatant pay-to-play corruption by the president and his family,” the senators wrote.

“This is a blatant pay-to-play scheme designed to enrich the president and his family at the expense of the American people,” the senators continued. “It is also a clear violation of the president’s pledge to serve the public interest.”

The senators requested that the ethics office investigate the matter quickly and take any necessary steps to prevent similar occurrences in the future.

“The American people deserve a president who is focused on serving their needs, not his own financial interests,” the senators concluded. “We urge you to take immediate action to hold the president accountable for his actions.”

The $TRUMP coin is a meme coin that has been gaining popularity in recent months. The coin is a parody of the popular cryptocurrency Bitcoin, and it is designed to be a fun and accessible way to get involved in the cryptocurrency market.

The coin's creators say that it is a "community-driven project that aims to bring people together through shared experiences and common goals." The coin is also being used to raise money for charity.

The $TRUMP coin has been the subject of some controversy, with some critics arguing that it is a scam. However, the coin's creators say that it is a legitimate project that is being carried out in a transparent manner.

The $TRUMP coin is currently trading at around $0.0003. The coin has a market cap of over $500 million.

This story was originally reported by The Hill.

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