President Donald Trump (R) is expected to host a dinner on Thursday night for the top investors in his meme coin. Senators Chris Murphy (D-CT) and Richard Blumenthal (D-CT) want to know who’s on the guest list.
Meme coins are a form of cryptocurrency with no inherent value. They’re often inspired by a viral internet joke, like a funny picture of a dog.
Trump started selling his on Jan. 17, right before he reentered office. It increased in value when he announced the top 220 buyers would get to have dinner with the president at the Trump National Golf Club near Washington, D.C. The biggest buyers also get a private tour of the White House.
“It would be bad enough if you could pay as an American citizen to get secret access to the president, but from what we understand, most of the attendees tonight will be foreigners," Murphy said. "These could be individuals with ties to terrorist groups. These could be representatives of Vladimir Putin.”
Trump has defended his crypto venture, saying on Meet the Press a few weeks ago that he doesn’t pay attention to how much he makes off it.
“If I have stock in something and I’m doing a good job and the stock market goes up, I guess I'm profiting,” Trump said before talking about congressional stock trading.
Under the Constitution's Emoluments Clause, Trump has to get permission from the Senate before accepting gifts from a foreign government while in office. Blumenthal has submitted four resolutions requesting a vote on the multiple gifts and business deals. None of them have been granted.
“The plane that is a gift of $400 million, in effect,” Blumenthal said. “The 'Fight, Fight, Fight' meme transactions that have already put $300 million in his pocket. The World Liberty Financial, which is also a corporation that benefits him and his family. The private real estate investments are all around the world, including the Middle East, which he has just visited. And of course, LIV golf, the Saudi-owned tour, which has tournaments at his golf courses and produces revenue for him.”
Trump said it would be “stupid” not to accept the airplane from Qatar. Members of the administration have defended the move, saying the plane hasn’t been given to Trump but to the Department of Defense.
Murphy has introduced legislation to ban Trump from profiting off meme coins while in office.
