3 weeks ago
President Donald Trump is facing scrutiny aft speaking astatine a backstage lawsuit for apical investors successful his $TRUMP memecoin portion lasting down a lectern emblazoned with the authoritative statesmanlike seal — a determination that whitethorn interruption national law.
The lawsuit took spot Thursday astatine Trump National Golf Club successful Virginia, wherever Trump addressed 220 investors successful his cryptocurrency project.
According to US law, the statesmanlike seal cannot beryllium utilized successful immoderate mode that could connote authorities support oregon sponsorship. Violators tin look fines oregon up to six months successful prison.
Trump, who arrived astatine the nine aboard a subject helicopter, praised attendees and took purpose astatine the Biden administration’s crypto stance.
When asked astir imaginable conflicts of interest, White House Press Secretary Karoline Leavitt said the president’s engagement was personal. “It is not a White House dinner,” she told reporters. “It’s not taking spot present astatine the White House.”
Related: Pictures springiness glimpse wrong Trump’s memecoin holder dinner
Trump features statesmanlike seal astatine backstage properties
This isn’t the archetypal clip Trump has featured the statesmanlike seal astatine his backstage properties. Forbes has antecedently reported its usage arsenic play markers astatine respective Trump-owned clubs.
In a May 22 missive to the Justice Department, 35 House members asked the nationalist integrity conception acting chief, Edward Sullivan, to launch an enquiry implicit the memecoin dinner to find whether it violated the national bribery statute oregon the overseas emoluments clause of the US Constitution.
Under the emoluments clause, a US president is barred from accepting immoderate acquisition from a overseas authorities without the support of Congress.
Source: Molly PloofkinsBloomberg reported that a bulk of the attendees astatine the memecoin meal were apt overseas nationals based connected their connections to crypto exchanges.
“US instrumentality prohibits overseas persons from contributing to US governmental campaigns,” said the letter. “However, the $TRUMP memecoin, including the promotion of a meal promising exclusive entree to the President, opens the doorway for overseas governments to bargain power with the President, each without disclosing their identities.”
Related: US lawmaker introduces anti-corruption measure up of Trump's dinner
Trump embraces crypto contempt erstwhile skepticism
Trump’s clasp of crypto marks a crisp crook from his skepticism during his archetypal term. The $TRUMP memecoin, launched earlier this year, peaked astatine $74.34 earlier falling to $14.44 by May 22.
High-profile guests astatine the dinner included Tron laminitis Justin Sun, ex-NBA subordinate Lamar Odom, and Asian crypto executives Sangrok Oh and Vincent Liu.
Sun, who reportedly invested implicit $40 cardinal successful $TRUMP tokens and spoke astatine the dinner, besides has heavy ties to Trump’s crypto ventures. He’s the apical backer of World Liberty Financial, a Trump-affiliated steadfast presently nether regulatory scrutiny.
Magazine: Crypto scam hub exposure stunt goes viral, Kakao detects 70K scam apps: Asia Express
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