can’t believe it.
That was the first word when I saw President Donald Trump’s announcement last week. He will hold a dinner of 220 top holders of $Trump Meme Coin, which has completed a private reception for $25 investors and a White House tour.
Trump’s efforts to leave the presidency were nothing new, and his first term was defined primarily by corruption and self-dealing. My organization, Washington’s Citizens for Responsibility and Ethics, tracked 3,700 conflicts of interest in his four years. All of these disputes stem from Trump’s failure to meaningfully sell his business holdings.
I don’t know if I’ve ever seen anything as blatant as this memecoin dinner through these thousands of examples.
But I don’t know if I’ve ever seen anything as blatant as this memecoin dinner through these thousands of examples. For Trump, this is above the top. Because the practice of putting money in his pocket and gaining access to the presidency is far from new, so it’s more shameless than ever. And even Maga Republicans are beginning to take notes. For example, on Friday, Wyoming’s Trump Alliance Sen. Cynthia Ramis said dinner would be “give me a pause.”
Let’s clarify what’s going on here. Trump appears to be auctioning off access to the presidency. The more he has his cryptocurrency people buy, the more likely he will meet Trump at his club. And there is no ambiguity as to who is profiting. Trump launched Trump on January 17th, and Trump can personally benefit in several ways. As reported by the New York Times:
Business entities associated with Trump mean that at least on paper earn a personal profit whenever prices rise. Trump and his business partners also collect fees when the coins are traded. This is a windfall that reached around $100 million in the weeks since the coin debuted in January.
The public is clearly paying attention – the price of Trump coins skyrocketed by more than 50% after Trump announced his reception. It brings Trump to more money. He may also stand to earn additional benefits by holding dinner at one of the golf clubs.
The purchasing process is also very unclear. After all, we don’t know everyone who spends money on his wealth, invests in a true society, or buys out crypto assets. (Neither the White House nor the company behind Meme Coin responded to recent NBC news requests for comments.)
This raises obvious ethical concerns, but unfortunately, in most cases, ethical laws other than constitutional provisions do not apply to the President. These provisions prohibit the President from receiving benefits, benefits, or benefits from foreign, state, or federal governments. There is little we or anyone can do, unless the state, federal or foreign governments buy $Trump coins.
However, since the buyers behind the crypto transaction are not publicly disclosed, it is possible that foreign governments are actually purchasing these coins. In other words, Trump may be violating the Constitution without the public discovering it. You can also purchase coins in the hope that individuals and special interests will have a direct impact on the president’s decision that affects us all. Again, the public wouldn’t know.
This is unacceptable.
In 2019, the Trump administration announced its intention to hold a G-7 summit at Trump’s Doral Golf Resort, hosting gatherings of heads of state and government officials from seven major countries. This was filled with widespread rage, and after just two days the administration reversed the course. A similar anger is appropriate and necessary here.
The President is to serve the masses, not his own interests or the wealthy few. At this memecoin dinner, Trump is lining up his pockets, allowing the best bidders to access the president. These wealthy investors have a unique opportunity to potentially influence decisions that could affect the lives of ordinary Americans. Meanwhile, tens of thousands of civil servants have lost their jobs thanks to his administration’s budget cuts.
This prevents corruption and cannot be allowed to pass as a new normal.
