On May 22, US President Donald Trump is expected to host up to 220 people who have purchased the most significant amount of his Memecoin at a private event in Washington, D.C.
As of May 19, the exact number of attendees was unknown, but reports and blockchain data estimate that some of the token holders eligible to apply for the May 22 dinner and “VIP Tour” will be in the White House. Bloomberg reported on May 7 that more than half of the 220 wallets are likely to be controlled by foreigners.
Applicants for the Memecoin dinner, who are likely to still face background checks before getting a confirmed look before the president, include Synthetix founder Kain Warwick, a consultant named Vincent Deriu, and Crypto user Morten Christensen.
Others included a global liberty financial advisor going under the pseudonym “Ogle” and a representative from Singapore-based startup Memecore. Cointelegraph also learned that Vincent Liu, the chief investment officer of Taiwan-based company Kronos Research, will be attending.
Trump’s Memecoin was criticized by many members of Congress, even before the announced dinner and reception.
Some lawmakers said the president is opening the White House to potential bribery and conflicts of interest.
Market Structure Legislation to Stablecoin
The debate spills over proposed laws relating to digital assets, including the Senate bill, which aimed to establish a Senate bill. Some Democrats said they would not support legislation until “Trump’s code corruption” is addressed.
“We believe this is an official tool for corruption,” said Rebecca Liao, co-founder and CEO of Layer-1 blockchain Saga, in a statement shared with Cointelegraph. “What began as a bipartisan bill with potentially widespread support has now turned into a proxy war between the Democrats and the Trump administration.”
Related: Trump’s Crypto “adds certain levels of challenge” to pass bills – Coinbase Executive
Some organizations are planning a protest during the MemeCoin dinner on May 22nd. The Democrats in Arlington, Virginia, announced members will gather to oppose White House people “cashing into civil servants.” Cointelegraph contacted the organization for comment but did not receive a response at the time of publication.
Do you buy influence or simply speculate in emerging markets?
The top 220 token holders reportedly spent a total of $148 million to get the chance to participate in the event that completed the leaderboard on May 12th. But anyone with a wallet would buy a card token and could affect the president’s policy after dinner is complete.
“The decision to win the (Trump) token was not political,” Chronos Research’s Vincent Liu, who is planning to attend Memocoin dinner, told Cointelegraph. “It was based on early momentum, cultural relevance and identification of potential market catalysts.”
In April, freight technology said it would invest $20 million in Trump tokens, suggesting it could affect the presidential trade policy between the US and Mexico, where the company is part of its business. In May, GD Culture Group announced that Memecoin will be included in its $300 million cryptographic protected area plan.
“The problem is the administration’s extreme conflict of interest over Trump’s crypto investment and crypto-friendly policies,” Liao said. “The Trump family invested very openly in cryptocurrencies and launched their own crypto ventures, creating the issue of perception that policies that support cryptocurrency can be viewed as self-rich and not as national interests.”
https://www.youtube.com/watch?v=vkc5qcrvdc0
If the Genius Act Stablecoin Bill is the first test of how Republicans and Democrats respond to Trump’s potential conflict of interest in the crypto industry, then there is already a prominent contrast between the two parties. になったんです。 English: The first thing you can do is to find the best one to do.
House Speaker Mike Johnson, who gave great concerns about the president’s connection with his family and the industry, said he “is not an expert on it.” White House assistant reporter Anna Kelly reportedly said there was “no conflict of interest” as Trump’s children managed his assets through trust.
Lawmakers are expected to vote for the genius act within a few days, perhaps before Memocoin dinner and reception. At the time of publication it was unclear whether Republicans intended to address some of Democrats’ concerns about Trump and cryptography, or to move forward with a vote that doesn’t change the bill.
magazine: Trump’s crypto ventures cause conflicts of interest, insider trading questions
