At least some of Donald Trump’s Memecoin top holders applying to attend a private dinner with the President can be based outside of the United States.
According to a May 7 Bloomberg report based on an analysis of Top Trump Token Holders, 19 of the top 25 wallets on the leaderboard use foreign exchanges that exclude US-based customers, suggesting either foreigners or Americans living abroad. Additionally, more than half of the top 220 owners (a group that can apply for dinner with the president) also used exchanges in other countries.
As of May 7, it was unclear what the top token holder identity and who could choose to apply for the May 22 Trump dinner and the “special VIP tour.” However, the project said that no one who applies can bring guests, must pass a background check, and “cannot come from a watchlist country (who knows the customers).”
The meaning of having dozens or hundreds of memocoin holders that could potentially be linked to foreign governments and interest groups has raised ethical concerns from some U.S. lawmakers, claiming that Trump is engaged in “payment” corruption. At least one senator called for the president’s ammo each, saying Trump is “selling access to what he pays directly and effectively.”
Memecoin’s concern is the slowing down of cryptography
Democrats in the House and Senate have already been pushed back in view of crypto-related laws until Republicans address concerns about “Trump’s crypto corruption.” The Senate is scheduled to vote for a bill regulating stubcoin on May 8, and House Republicans recently introduced a draft discussion of the Digital Asset Market Structure Bill.
Related: Trump-backed USD1 is currently the seventh largest Stablecoin in the world
President Trump then launched Memocoin on January 17th (three days before he took office three days ago). The two companies connected to Trump manage about 80% of Memecoin’s supply.
The launch of Memecoin and its potential impact on the president and his agenda have already urged some companies to board. On April 30, the trucking logistics management company announced a $20 million investment in Trump Tokens.
magazine: Trump’s crypto ventures cause conflicts of interest, insider trading questions
