Former President Donald Trump is facing criticism for hosting an exclusive gala dinner for investors of his personal cryptocurrency, $TRUMP. The event, held at a Virginia golf club, has drawn ire from both sides of the political spectrum, with accusations of corruption and unethical practices. The memecoin, heavily controlled by the Trump family, has reportedly generated substantial fees, further inflating the family's wealth.
Participants, including notable figures like Chinese entrepreneur Justin Sun, secured their invitations by purchasing $TRUMP tokens. Critics label this as a 'pay-to-play' scheme, granting donors privileged access to the former president. In response, Democratic lawmakers are proposing legislation to prevent politicians from engaging in crypto-related activities, citing concerns of financial impropriety.
Protests are planned outside the venue, with demonstrators accusing Trump of selling access to political power. Meanwhile, some Republicans, including Trump's own son, have distanced themselves from the event. The controversy has prompted discussions about potential conflicts of interest and the ethical implications of political figures profiting from digital assets while in office.
