Trump's New Memecoin Sparks Outrage

A recent move by U.S. President Donald Trump to reward top holders of his personal cryptocurrency with exclusive access to a White House dinner has sparked sharp criticism

A recent move by U.S. President Donald Trump to reward top holders of his personal cryptocurrency with exclusive access to a White House dinner has sparked sharp criticism from both sides of the political aisle, including among Republicans.

The controversy centers around Trump’s memecoin, which was launched in January with the promise of offering select holders an opportunity to dine with the president and tour the White House. The offer, which was announced on April 23, has drawn scrutiny for blurring ethical lines and prompting concerns about monetizing political access.

Senator Cynthia Lummis was among those expressing unease. While she later praised Trump for backing pro-Bitcoin legislation on the Senate floor, she also questioned the appropriateness of offering White House access in exchange for crypto holdings.

Her remarks followed those of fellow Republican Lisa Murkowski, who likened the gesture to selling Capitol tours, calling it improper.

The memecoin initiative, which launched just months after Trump’s re-election, has already faced a storm of criticism. Ethics advocates and lawmakers argue that it opens a direct financial pathway for influence.

“This is a clear abuse of public trust,” said Craig Holman, a policy expert at Public Citizen. “We’re now in a situation where a meme can buy access to the president.”

Democratic Senator Jon Ossoff has gone further, publicly calling for impeachment proceedings. During a town hall on April 25, he condemned the initiative as a form of “pay-for-access.”

Ossoff's comments come amid broader concerns over potential conflicts of interest and campaign finance violations.

Despite the backlash, Trump’s team has not yet clarified who will attend the planned May 22 event. Speculation continues online, with sleuths poring over memecoin wallet rankings and suggesting that high-profile supporters like Justin Sun or Elon Musk might be involved, though neither party has confirmed any participation.

Meanwhile, Trump’s executive support for the BITCOIN Act—which proposes the creation of a strategic national crypto reserve—has won applause from parts of the digital asset community.

But the merging of policy influence with personal crypto ventures continues to raise questions about transparency, ethics, and the evolving relationship between government and digital finance in the coming year.

The post Trump’s crypto dinner invite sparks criticism from both sides of political aisle appeared first on Chain Link.

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