A top Democrat has launched an investigation into the private dinner of U.S. President Donald Trump with investors from his official Trump member. A week after the controversial incident, House deputies tried to shed light on some of the moral and legal concerns raised by some Democrats.
Investigate Trump’s adult dinner guests
On Wednesday night, Jamie Raskin, the top Democrat on the House Judiciary Committee, asked President Trump to share the names of guests who attended his private memorial event last week.
In a letter reviewed by the Washington Post, members of Congress urged Trump to reveal some concerns about the identity of dinner attendees and the origins of millions of dollars invested in members of the president.
In April, it was announced that the top 220 Trump holders on Memecoin’s website rankings will be invited to the May 22 event and have dinner at the President’s private club in Washington, D.C.
In addition, the top 25 holders will be invited to an exclusive reception with Trump and enjoy a tour guide from the White House. The news has raised concerns among multiple lawmakers that foreign governments seeking to influence the White House can invest in tokens.
If the money comes from a foreign government, it could violate federal law that prohibits federal officials from accepting gifts from these entities without Congress’ approval.
According to the letter: “The publication of this list will also let the American people know who puts tens of millions of dollars in the pockets of our president so we can start figuring out what – they can exchange for all this money in addition to almost worthless memorials.”
Blockchain analytics firm Nansen reported a month ago that within just one hour of the announcement, Trump’s top 100 holders increased its balance by 940,000 tokens.
It is worth noting that Tron’s founder and World Free Finance (WLFI) investor Justin Sun won his place at the party with 1.17 million Trump tokens, worth about $18.5 million at the event.
Democrats accused of potential conflicts of interest
Representative Raskin believed the Memecoin dinner was the latest example of what the president called a plan to blur the line between his business interests and his office.
“Making profit from memorials is just the latest in a series of confusing plans to make money when you and your family return to work,” the letter reads.
According to the Washington Post, Democratic congressmen also asked whether the White House or the presidential company confirmed that the funds used to purchase Memecoin had nothing to do with terrorist groups, drug cartels or other criminal activities.
Last week, White House press secretary Karoline Leavitt confirmed that the commemorative dinner did not create a conflict of interest for the president, claiming it was not a White House dinner and he was attending the event “personal time.”
Nevertheless, Maxine Waters, a representative of the House Financial Services Committee and Democratic Committee, introduced HR 3573, also known as Stop Trump in “crypto law.”
The bill was co-sponsored by 14 House representatives and aims to prevent the U.S. president, vice president, members of Congress and their immediate family members from participating in any cryptocurrency adventure that can make them profitable while serving.
TRUMP trades at $12.09 in the one-week chart. Source: TRUMPUSDT on TradingView
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