Senators Probe Trump Over Memecoin-Linked White House Access
A private dinner invitation extended to the top 220 holders of the $TRUMP memecoin has triggered a sharp rebuke from Democratic lawmakers. The promotion, which offers VIP White House tours in exchange for holding the volatile digital asset, has prompted formal inquiries into potential pay-to-play corruption at the executive level.
The contest, advertised on the $TRUMP project website, incentivizes ownership by ranking participants based on the volume and duration of their holdings between April 23 and May 12. The top 25 investors are promised an exclusive reception with the President and a tour of the White House. Following the announcement, the token’s value surged by more than 50 percent to $14.32, briefly adding $100 million in market capitalization after a prolonged slump that saw the coin lose 88 percent of its peak value.
Senator Chris Murphy labeled the initiative the most brazenly corrupt act of a sitting president. In a formal request to the U.S. Office of Government Ethics, Senators Elizabeth Warren and Adam Schiff argued that the scheme risks selling presidential access to foreign nationals and corporate interests. The lawmakers contend that the arrangement allows for personal enrichment while potentially compromising federal decision-making. Despite the outcry, the prospect of a formal federal investigation remains limited.
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