Senate Republicans Raise Concerns Over Trump's Exclusive Dinner for $TRUMP Token Investors

Some Senate Republicans are expressing concerns over an exclusive dinner and White House tour being offered by President Donald Trump to top investors in his $TRUMP meme token. Senator Cynthia Lummis of Wyoming, who has been advocating for cryptocurrency regulation, voiced her unease, stating, “This gives me pause.” The official website for the meme coin announced that the top 220 holders are invited to a private dinner at Trump’s golf club later this month, with the top 25 investors also receiving invitations for a VIP White House tour the following day. Following the announcement, the $TRUMP token surged over 50%, raising its market value to $2.7 billion. Lawmakers from both parties are scrutinizing the implications of offering access to the president in exchange for investments that contribute to Trump’s personal wealth. Senator Lisa Murkowski of Alaska questioned the appropriateness of charging for tours of the Capitol, emphasizing that it is the people's house. Meanwhile, Lummis highlighted the need for legislative standards around digital assets, describing the current landscape as akin to the “Wild West.” Senator Thom Tillis of North Carolina remarked on the abstract nature of the dinner concept, indicating a desire for more details. The White House has not commented on the matter. As the Senate prepares to address the GENIUS Act, which aims to establish a regulatory framework for stablecoins, Lummis continues to advocate for clarity in the regulations surrounding digital assets. Criticism from Senate Democrats has been swift, with Senators Elizabeth Warren and Adam Schiff calling for an ethics probe into the dinner, raising concerns about potential “pay to play” corruption. Schiff’s office confirmed that they have yet to receive a response regarding their request. Senator Jon Ossoff of Georgia has suggested that impeachment could be on the table, while Senator Cory Booker of New Jersey labeled the meme coin sale a “violation of the Constitution.” Amidst the uproar, some Democrats, like Senator John Fetterman of Pennsylvania, expressed fatigue over the ongoing controversies, stating, “I’ve got 99 problems but this s--- ain’t one.”