Trump’s crypto restaurant stirs up DC – but a political power stays calm
U.S. House Speaker Mike Johnson has been growing ethically at a crypto dinner hosted by U.S. President Donald Trump. He told CNN on May 25 that he had never heard of the event and would not re-attend. Meanwhile, 35 House Democrats want the Justice Department to investigate and release the guest list.
Democrats demand investigation
According to reports, 35 House Democrats formally requested the Justice Department to investigate the supper of Trump’s top holder of his official Trump (Trump) memorial on May 22. They fear some of the biggest buyers may be foreign nationals, which could violate the bribery rules or the Emmer clause of the Constitution. Senator Elizabeth Warren called it a “corruption rave” at a press conference the same day.
Questions about foreign funding
According to a May 7 report by Bloomberg, most of the people invited to attend dinner may come from outside the United States. These include Tron-born Chinese CEO Justin Sun, who owns the largest share of Trump tokens. Some critics point out that there is no clear record of where the money comes from or where everyone pays to participate.
https://www.youtube.com/watch?v=5Qize-cnxjy
Jake Tapper (left) of CNN speaks with House Speaker Mike Johnson. Source: CNN
Johnson remains silent
On May 25, Jake Tapper asked Johnson why the names were not released and if he would be upset if the Democratic president did so. Johnson said he “knows nothing about dinner” and he was “a little busy” passing a $1.6 trillion budget bill. He also praised Trump as “the most transparent president” and insisted that there is nothing to hide.
A White House state dinner. Image: AP Photo/Ron Edmonds/file
New bill attempts to ban profits
On the same day, representative Maxine Waters and 14 colleagues introduced the “Stop Trump in the Crypto Act.” The bill would prohibit Trump and his family from making money from any cryptocurrency during their tenure. Waters pointed out that Trump’s crypto platform World Free Finance, charges more than $350 million in fees and is closely related to his souvenirs.
A wider crypto issue
The price of investors in Trump tokens rose 60% when dinner was announced. Australian entrepreneur Kain Warwick even told the New York Times on May 12 that he bought enough tokens to enter the top 25 holders so he could invite them. Cayman Islands Bitmart CEO Sheldon Xia posted photos of himself at the event, adding questions about foreign influence.
Legal restrictions on gifts
Under the Emer’s provisions of the Constitution, the President shall not accept any gifts from abroad without the approval of Congress. If some crypto investors offer a grant or payment to obtain a fee, they may be in legal hot water. Ethics experts say a lack of transparency can make it difficult to rule out violations.
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