Trump’s $TRUMP Coin Gala Under Fire: Lawmakers Push For DOJ Inquiry Ethics of Exclusive Dinner

U.S. Congressmen Sean Casten (IL-06) and Adam Smith (WA-09) are spearheading efforts by U.S. lawmakers demanding that the Department of Justice (DOJ) investigate whether U.S. President Donald Trump’s $TRUMP meme coin dinner violates federal bribery laws or the Constitution’s foreign emoluments clause, according to a May 22 letter.

In the letter from Casten and Smith, backed by 35 House Democrats, the lawmakers claim that the dinner for the top 220 $TRUMP investors held on Thursday “invites foreign influence over U.S. policy decisions and raises potential corruption and emoluments clause violations.”

“It is just the latest example of President Trump disregarding ethics norms, introducing further conflicts of interest, and using his office for self-enrichment,” Casten and Smith said.

In particular, the two representatives emphasized concerns over Chinese Tron founder Justin Sun’s recent announcement that he was the top investor of Trump’s namesake meme coin, exacerbating foreign influence concerns.

Sun faced fraud charges from the United States Securities and Exchange Commission over his Tron blockchain, though those were recently dropped shortly after investing millions in the Trump-affiliated crypto platform, World Liberty Financial.

“U.S. law prohibits foreign persons from contributing to U.S. political campaigns,” the lawmakers said. “However, the $TRUMP memecoin, including the promotion of a dinner promising exclusive access to the President, opens the door for foreign governments to buy influence with the President, all without disclosing their identities.”

Hosted at Trump National Golf Club just outside of Washington, D.C., the $TRUMP gala dinner drew a wave of pushback from Democratic lawmakers who expressed issues over potential ethics concerns.

On Thursday, ranking member of the House Financial Services Committee Maxine Waters (D-CA) introduced a new bill that would prohibit elected officials from owning a substantial amount of cryptocurrency.

However, it is still unclear if Democrats hold enough sway to enact legislation against Trump’s crypto affairs.

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