Trump Faces Mounting Legal Scrutiny After Hosting Controversial $TRUMP Memecoin Investor Dinner

President Donald Trump faces mounting legal scrutiny after hosting a controversial $TRUMP memecoin investor dinner at his Virginia golf club.

President Donald Trump is facing an increasing level of legal scrutiny following a widely-discussed dinner with memecoin investors at his Virginia golf club. The event, which featured the official presidential seal on display and was part of a broader effort to fund Trump’s $TRUMP memecoin, has sparked debate over potential violations of federal law and the Emoluments Clause of the U.S. Constitution.

The president addressed around 220 investors on Thursday evening at Trump National Golf Club in Bedminster, New Jersey, where he was standing in front of a lectern that displayed the presidential seal.

The president addressed around 220 investors on Thursday evening at Trump National Golf Club in Bedminster, New Jersey, where he was standing in front of a lectern that displayed the presidential seal.

However, the use of the seal for personal gain is strictly forbidden by federal law, with violators risking a year in jail and/or $1,000. Legal experts interviewed by Blockworks pointed out that the seal’s presence at the fundraiser - which was part of Trump’s broader effort to fund his $TRUMP memecoin, launched earlier this year - would suggest the president’s cryptocurrency is being endorsed by the government.

This assertion was further made by 35 House Democrats in a Friday letter to the Justice Department, where they requested an investigation into the dinner. The lawmakers claimed the event may have breached the Emoluments Clause, which bars presidents from accepting foreign gifts without congressional approval, and implicated federal bribery statutes.

They also noted that most of the dinner attendees were likely foreign nationals involved in crypto exchanges in China, Hong Kong, India, Israel, Korea, Singapore, Turkey, Vietnam and the UAE, according to a previous Bloomberg report.

They also noted that most of the dinner attendees were likely foreign nationals involved in crypto exchanges in China, Hong Kong, India, Israel, Korea, Singapore, Turkey, Vietnam and the UAE, according to a previous Bloomberg report.

The盅燉屋所suggest the dinner created an avenue for foreign governments to exert influence in a veiled manner. It was reported that attendees paid up to $148 million in TRUMP tokens for the dinner, which also included an “ultra-exclusive” VIP reception with members of the Trump family.

“This opens the door for foreign governments to buy influence in the U.S. government anonymously, and it creates an implication that the president is personally endorsing these investment vehicles,” stated the lawmakers in their letter.

Among the high-profile guests at the dinner was Tron founder Justin Sun, a main investor in Trump’s crypto ventures. Sun, who invested $40 million in $TRUMP tokens, is also a shareholder of World Liberty Financial, a Trump-linked firm that is currently under regulatory scrutiny.

Trump’s involvement in cryptocurrency has become increasingly apparent. During his first term, he famously dismissed Bitcoin (BTC) as “a scam” in an interview with Fox News in 2019.

Trump’s involvement in cryptocurrency has become increasingly apparent. During his first term, he famously dismissed Bitcoin (BTC) as “a scam” in an interview with Fox News in 2019.

But now, with his $TRUMP memecoin boasting a valuation of $3 billion, the former president has become a central figure in the crypto sphere. The token’s price had been on a downward trajectory since it reached a high of $74.34 in January, with its price crashing to $14.45 by May 22.

After the dinner announcement last week, the token experienced a brief 50% surge in a single day, which resulted in nearly $900,000 in trading fees being paid to Trump allies who hold large positions in the token.

However, critics have linked the token’s volatility to gambling, adding that it lacks any inherent value and is essentially an investment vehicle that relies solely on Trump’s brand.

This isn’t the first time Trump has faced backlash over the use of the presidential seal. Previously, Forbes reported that Trump’s golf clubs had been placing presidential seal golf markers in the clubs’ pro-shop, a move that several legal experts interviewed by the publication called “improper.”

Pointing out that the seal is usually used to denote the president’s official acts, attorney Tracey Gallagher added that such displays at private fundraisers would likely violate federal rules.

Moreover, Trump’s arrival at the golf club in Marine One further blurs the lines between personal and presidential acts. Outside the venue, protesters were seen holding up signs like “America is not for sale” and “No Impunity for Trump!” as Senator Jeff Merkley (D-OR) described the upcoming dinner as the “Mount Everest of Corruption.”

In response to claims of a conflict of interest, White House Press Secretary Karoline Leavitt said the dinner is a private affair and Trump’s assets are in a blind trust managed by his children.

However, experts in governmental ethics stated that the trust lacks the requisite independence and that the president’s actions in launching a memecoin and fundraising for it are covered by Section 1(1) of the Presidential Bribery Act.

“This is unprecedented - a president is directly profiting and selling access to the president.”

Daniel Weiner, an expert in presidential ethics at the Brennan Center for Justice, told Blockworks that the dinner is part of a broader pattern of Trump allegedly seeking to profit personally from his political office.

“This is unprecedented - a president is directly profiting and selling access to the