Donald Trump Launches a Cryptocurrency Venture That Promises Dinners with the President to Top 220 Holders of Its Memecoin

Washington D.C. – Donald Trump’s prior string of dubious money-making schemes that traded on his presidential brand were child’s play compared to his latest and most brazen grift

Washington D.C. – Donald Trump’s prior string of dubious money-making schemes that traded on his presidential brand were child’s play compared to his latest and most brazen grift to date.

On May 22, the President will attend a private dinner “with the top 220 holders of the Trump memecoin,” the cryptocurrency venture Donald and Melania Trump launched just days before his second inauguration, which quickly made them fibankers with their new venture and that ethics experts warned could be a vehicle “‘to circumvent national security and anti-corruption laws”.

The Trump family memecoin, $TRUMP, is part of a broader cryptocurrency portfolio they announced shortly after New Year’s Day 2021, days before Trump’s second inauguration. In a statement announcing the portfolio, the Trumps said they had "closely studied the blockchain technology" and liked what they saw.

The Trumps' cryptocurrency portfolio also includes a cryptocurrency focused on environmental, social, and governance (ESG) investing, which they said they would use to "highlight the importance of responsible investing practices."

The Trumps' decision to launch their own memecoin drew criticism from some experts, who said it could be used to siphon funds from Trump supporters. The memecoin, which is based on the Trump family crest and features a photo of the former president, is being sold on the Trump family's website.

“The Trumps have a long history of grift and self-dealing, and this memecoin scheme is just the latest in a series of brazen attempts to line their own pockets at the expense of the American people,” said Carrk. “But this time, Trump is going even further by inviting investors to a private dinner at his own resort, where they will be able to mingle with the President and thank him personally for his service.”

According to the event’s website, investors will be ranked based on the average amount of $TRUMP they hold in their crypto wallets from April 23 to May 12.

One of the event taglines even reads: “Own a Piece of Trump.”

An Accountable.US review found the investor currently atop the leaderboard, an individual named "Frank," moved approximately $5.5 million of $TRUMP just today; while the investor in the #2 spot interacted with crypto exchange Binance.com, which prohibits American users, earlier today – strongly suggesting they may be a foreign national.

“This is an administration that is openly flouting the rules and inviting corruption in an attempt to reward donors and punish critics,” said Carrk. “But the good news is that there is still time to stop Trump’s worst abuses of power. We are calling on Congress to quickly pass legislation to ban presidents from benefiting personally from their own memecoins, close the Trump administration’s pay-to-play loopholes, and require administration officials to fully disclose their financial holdings.”

News data source: kdj.com

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