Democrat-tendent organisations and members of Congress have announced plans to protest what they describe as a sale of access to the US president’s office in connection with Donald Trump’s Mimecoin dinner on May 22. Attendees at the event are said to have spent more than $100 million on the opportunity to meet with the US president.
Official Trump (Trump), Trump’s Mimecoin project, has announced that the top 220 token holders will have the opportunity to apply for exclusive dinners with the president, many leaders of the crypto industry and US lawmakers.
Memecoin’s dinner urged some Democrats to withdraw their support for crypto-related laws in Congress, including the market structure and Stablecoin Bills.
“It is unconstitutional for Trump to collect gifts from foreign governments,” a spokesman for Public Citizen, a consumer advocacy group that plans to protest near Memocoin Dinner on May 22, told Cointelegraph. “It’s not that good to attract foreign government investment through his memo coins. American foreign policy should not be sold.”
Crypto industry figures such as Tron founder Justin Sun, Kronos Research’s Chief Investment Officer Vincent Liu, Hyperithm Co-Ceo Oh Sangrok, and Synthetix founder Kain Warwick are among the token holders who will be attending dinner at Trump National Golf Club in Washington, DC. The Memecoin project stated that all applicants must pass background checks and not from “watchlist countries (who knows the customers).”
Related: Democrats are seeking suspicious activity reports linked to Trump Cryptoventure
Public citizens will work with our progressive political organisation to hold a rally near the golf club where Oregon Senator Jeff Merkley will be present. Additionally, Democrats from Arlington and Loudon have held another event to encourage US officials to “hold responsibility,” with Democrats in Congress scheduled two news events on May 22 ahead of dinner.
“Americans cannot accept President Trump’s view that a position of power exists to benefit only those owners of that power.” “Whatever the outcome is, they have a moral responsibility to oppose corruption.”
https://www.youtube.com/watch?v=sumyysrjvzm
Trump’s pushback to memo coins affected cryptography
Some lawmakers first cited the Trump family’s involvement with Memecoin dinner and Crypto Platform World Liberty Financial in the conflicting passage of the Genius Act, a bill that regulates payment stabilization coins. World Liberty Financial began issuing its own USD1 Stablecoin in March, urging concerns about Trump’s conflict of interest. However, the law passed a major procedural vote in the Senate on May 19, gaining Democrat support and set up the bill for discussion in Congress.
“Many senators, including myself, have very realistic concerns about the use of cryptographic technology to help the Trump family avoid surveillance, hide shaded financial transactions, and make personal profits at the expense of everyday Americans,” Sen. Mark Warner said before the May 19 vote.
Sen. Chris Murphy, who voted against the advancement of the Genius Act, sought bipartisan support when the US president amends the bill to specifically ban the issuance of Stablecoins. He also called on the White House to release a full list of participants for the Memocoin Dinner, suggesting that some or all of them would “try to get something from the President” in exchange for purchasing tokens.
Murphy and Senator Elizabeth Warren will be attending a press conference with representatives of public citizens on May 22nd. California representative Maxine Waters, a ranking member of the U.S. House Financial Services Committee, announced another press conference on the same day with plans to introduce a bill that “blocks Trump members and stops corruption in crypto.”
As of May 21st, the exact number of dinner attendees was unknown. A small group of 25 token holders were also eligible to apply for a “VIP tour” and a reception (probably at the White House), but at the time of publication, the full list of planners who would attend was also unknown.
magazine: Trump’s crypto ventures cause conflicts of interest, insider trading questions
