A leading Democratic lawmaker launched a probe Thursday into the private dinner held by President Donald Trump for top investors in his Official Trump (CRYPTO: TRUMP)
What Happened: Rep. Jamie Raskin (D-Md.), Ranking Member of the House Judiciary Committee, sent a letter to Trump demanding he disclose the guest list of invitees for the event held last week. Raskin also inquired about the origin of the funds the investors used to purchase the meme coin
“Publication of this list will also let the American people know who is putting tens of millions of dollars into our President's pocket so we can start to figure out what--beyond virtually worthless memecoins--they are getting in exchange for all this money," Rasking wrote.
The legislator also objected to the presence of foreign individuals at the dinner, including controversial cryptocurrency mogul Justin Sun, the largest investor in the meme coin.
"Foreign nationals--who are not allowed to donate a dollar to your presidential campaign under federal election laws--are now purchasing access to you by buying millions of dollars of your personal memecoin,” Raskin alleged.
The White House didn’t immediately return Benzinga’s request for comment.
See Also: Ethereum Becoming More Attractive For Institutional Investors, JPMorgan Analysts Say
Why It Matters: The exclusive dinner was held at Trump’s private golf club near Washington, D.C., amid protests and ethical concerns.
Since the dinner’s announcement last month, there has been a growing uproar. Democrats, as well as some pro-Trump crypto aficionados, have expressed concerns about potential conflicts of interest and the likelihood that mysterious buyers will obtain access to Trump through such gatherings.
Trump has refuted claims that he is financially benefiting from the venture. The team behind the meme coin--80% of which is managed by a Trump Organization affiliate--states that TRUMP is neither a political endeavor nor an investment opportunity, but rather a statement of support for Trump’s principles.
Price Action: At the time of writing, TRUMP was exchanging hands at $11.74, down 6.46% in the last 24 hours, according to data from Benzinga Pro. Over the last week, the coin has plummeted over 18%.
Photo Courtesy: Christopher Sciacca on Shutterstock.com
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
