US Senator Jon Ossoff compares experience of financial firms navigating cryptocurrency regulations to playing “the floor is lava” – but in the dark

Speaking at the “Know Your Custodian” event on April 25, Peirce said firms trying to engage with crypto-related activities face unclear guidelines

Recent reports suggest that US Senator Jon Ossoff is open to launching impeachment proceedings against President Donald Trump, fueled by concerns over a private dinner offered to top holders of the “Official Trump” memecoin.

During a town hall event in Georgia on Thursday, Ossoff voiced his support for impeachment, citing his worry over the president’s participation in what he described as selling access for direct cryptocurrency payments.

"Where a sitting president of the United States is selling access for what are effectively payments directly to him. There is no question that that rises to the level of an impeachable offense," Ossoff said, as reported by NBC News.

The Senator noted the difficulty of impeachment with the current political balance, with Republicans controlling both chambers of Congress and the president's role as the leader of his party. However, he hinted at the possibility of impeachment arising again if Democrats regain the majority in the 2026 midterm elections.

The impeachment issue has been a subject of discussion since April, when the Trump memecoin project announced plans for an exclusive dinner at Trump’s golf club in Washington, D.C., inviting the top 220 TRUMP token holders. The event sparked a surge in the memecoin's price, with CoinMarketCap reporting gains of over 50% for the TRUMP token following the news.

To apply for the dinner, candidates had to undergo background checks and meet eligibility requirements, such as not being on any Know Your Customer (KYC) watchlists, according to the Official Trump project’s website.

Amid speculation that participants would need to hold up to $300,000 in TRUMP tokens to qualify, the memecoin team clarified that the cutoff would be based on a public leaderboard, not raw token balances, and that locked or non-participating wallets would not count.

Earlier this year, legal experts raised concerns about possible conflicts of interest linked to the president’s cryptocurrency ventures, including the TRUMP memecoin and the World Liberty Financial decentralised finance (DeFi) project. Some argued that any policy decisions affecting the digital asset industry could overlap with the president’s personal financial interests.

"In just a couple of days of him taking office, he’s signed a number of executive orders that are significantly going to affect the way that our cryptocurrency and digital assets industry works," said Charlyn Ho of law firm Rikka.

"So if he has a personal pecuniary benefit arising from his own policies, that’s a conflict of interest."