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Washington – Senators Adam Schiff and Elizabeth Warren warn that President Donald Trump’s private dinner with the holders of his meme coin can constitute a corruption of “payment to play” and are asking for an ethical investigation.
Democratic senators, from California and Massachusetts, respectively, sent a letter on Friday to the United States government ethics office, asking for an investigation to determine if President Trump violated federal ethics rules by offering exclusive access to the main investors.
The letter refers to a promotion, announced on the Meme Coin website on Wednesday, offering the 220 token dinner holders with the president on May 22 at his golf club near Washington, DC, the currency increased 50% in value after the invitation was published.
“The announcement of President Trump promises exclusive access to the presidency in exchange for an important investment in one of the president’s commercial companies,” the senators wrote on Friday in a letter shared with CNBC.
The value of the currency increased by more than $ 100 million after the announcement, which increases the Conerns that Trump and his family are personally benefiting from their political influence, the senators wrote.
“This last action raises a serious ethical and legal concerns, including the severe risk that President Trump and other officials can participate in the corruption of ‘paying’ by selling presidential access to individuals or actors actors of actors, actals and corporate personally enriching the president and his family,” the senators wrote.
They cite multiple public reports that show that some $ Trump investors have links with foreign exchanges or received prohibited cryptographic platform funds in the United States, including Binance.
Senators Schiff and Warren are asking ethics officials if Hether has been provided to Trump or their family about benefiting from digital assets while they are in office, and what safeguards exist to prevent people from accessing or looking for pellets buying pardons.
With the White House and both Congress cameras controlled by Republicans and with a director of Ethics appointed by the President, it is likely that the letter of the democratic senatics falls into deaf ears.
Trump and his allies continue to push cryptography markets more deeply. Last month, the Trump family announced plans to launch a stablcoin through its world financial project in Liberty.
Since its debut in January, the MEME $ Trump currency has generated more than $ 350 million in rates for entities linked to the president and its intimate circle. The project’s website states that 80% of the tokens supply is a hero by the Trump organization and the affiliated entities.
The White House did not respond to a request for comments. The Government Ethics Office declined to comment.
The OGE has made clear in the past orientation that, while the president and the vice president are exempt from federal conflict laws that apply to other government officials and the ethical standards established by the environment of the president of the Executive Order.
The Ethics Office can issue recommendations but It has no authority to enforce financial divestment or prosecute conflicts that involve a acting president.
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