Several prominent Democratic senators hosted a surprise press conference on President Trump, his crypto dealings, and the impending meme coin dinner. They called for the immediate release of the full guest list and accused the POTUS of selling US policy favors to foreign nations.
The press conference represents growing opposition to the crypto industry’s political influence. However, as the GENIUS Act’s passage suggests, plenty of Democrats are currently content with the pro-crypto agenda.
Democrats Call Trump’s Meme Coin Dinner the ‘Mount Everest of Corruption’
President Trump’s eponymous meme coin has generated a lot of controversy, especially with his Gala Dinner contest for the largest holders.
The dinner is scheduled to take place tonight, but the guest list remains hidden, and several Democratic Senators and Representatives publicly asked President Trump for some answers.
“Most of the attendees tonight will be foreigners. These could be individuals tied to terrorist groups, Vladimir Putin, sanctioned individuals, Gulf princes, and oligarchs. They were able to pay their way in to get an audience with the US President to ask for favourable national security concessions. This is a celebration of corruption. At least let us see who they are. Release the names,” Senator Chris Murphy claimed.
Murphy joined several other crypto skeptics from the Democratic Party in addressing Trump’s potential crypto corruption. These include Senators Elizabeth Warren, Jeff Merkley, and Richard Blumenthal alongside Representative Sam Riccardo and other private citizens.
Murphy also mentioned that the Secretary of State, Marco Rubio, would not attend the dinner. In fact, the State Secretary reportedly didn’t even know about the event.
Given that most attendees would be foreigners and remain anonymous, it could raise concerns about US national security.
Also, their criticisms hammered on a few recurring points: the dismantling of regulatory agencies, Trump’s family business connections, and the potential for naked political corruption.
‘The White House For Sale’ – Democrats Accuse Crypto of Influencing National Policy
Warren touched on several of these issues, noting how Tron founder Justin Sun won the TRUMP contest shortly after the SEC dropped a case against his company.
“Howard Lutnick, Paul Atkins, and David Sacks—each has extensive personal and financial ties to the crypto industry, and each now holds a key government position to boost crypto fortunes and Donald Trump’s personal fortune. Tonight is the top. Tonight is the orgy of corruption – a private intimate dinner for the top buyers of his meme coin. The American people have no idea who are buying access to the US President,” Senator Warren claimed.
Although these elected officials strongly railed against Trump’s crypto corruption, the entire Democratic Party is not on board. Despite the skeptics’ vocal opposition, 16 Democratic senators broke ranks to pass the GENIUS Act this week.
Senators like Kristen Gillibrand received huge sums from the crypto lobby, and the industry’s remaining political influence is not certain.
Ultimately, these Democratic crypto skeptics had a clear ask: more clarity on Trump’s business entanglements.
Jeff Merkley noted that these 220 TRUMP holders are interested in more than a dinner or airdropped NFTs. Many of them want political influence, and Congress has mechanisms to unveil their progress in winning it.
“What I ask the US Senate to do is to have a vote – as the emoluments clause says, if [Trump] receives payments and benefits, all he has to do is come to the Senate and say it. [The meme coin, WLFI, and other ventures] are just the beginning of a list of corrupt entities that benefits him, which is in violation of a specific clause of the Constitution,” Senator Richard Blumenthal claimed.
As to whether or not these Democratic Congresspeople will successfully curtail Trump’s actions, it’s difficult to say. For now, it’s only clear that legislative hostility to the crypto industry is calcifying.
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