Connect with us

Coin Market

US senators press for answers on Trump's crypto interests

Published

on

Massachusetts Senator Elizabeth Warren has called on government officials to address questions related to US President Donald Trump’s memecoin and his media company.

In an April 25 letter to Jamieson Greer, acting director of the US Office of Government Ethics (OGE), Warren, a Democrat from Massachusetts and California Democratic Senator Adam Schiff requested that officials address concerns about Trump’s memecoin after the president announced a dinner and White House tour for some of the individuals who held the most TRUMP tokens. The two senators requested that Greer provide information on safeguards and guidelines related to whether foreign actors and others could buy political influence with the president, potentially impacting his policy positions and federal pardons.

“President Trump’s announcement promises exclusive access to the presidency in exchange for significant investment in one of the President’s business ventures,” wrote the two senators.

“In promising such access, this proposition may implicate several federal ethics laws and constitutional prohibitions, including the federal bribery statute and emoluments clauses of the US Constitution. It also raises the troubling prospect that foreign actors are using the memecoin as a vector to buy influence with President Trump and his associates without needing to disclose their identities publicly.”

April 25 letter from Sens. Warren and Schiff to OGE. Source: Sen. Schiff

The letter was sent the same day Warren reportedly expressed similar concerns about Trump’s potential conflicts of interest with the US Securities and Exchange Commission (SEC). According to an April 25 Reuters report, the Massachusetts senator urged SEC Chair Paul Atkins to ensure that oversight of Trump’s media company was “free from undue political interference and influence from the President and his administration.”

Related: Trump’s WLFI crypto investments aren’t paying off

Though ranking member of the Senate Banking Committee, Warren does not have the authority to direct Congress’s agenda with Democrats in the minority. Two Democrats in the Senate and House of Representatives have already called for Trump’s impeachment over his memecoin dinner.

Warren added:

“The American people deserve the unwavering assurance that access to the presidency is not being offered for sale to the highest bidder in exchange for the President’s own financial gain.”

At the time of publication, it was unclear who among the top TRUMP memecoin holders would attend the dinner, scheduled to be held on May 22 at Trump’s golf club in Washington, DC. Speculation and analysis of users suggested that Trump supporters, including Tron founder Justin Sun, Tesla CEO Elon Musk, and others, could attend, though none had been confirmed as of April 28.

Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Coin Market

Binance & OKX users face $1900 fines in Vietnam, Coinbase in China? Asia Express

Published

on

By

Retail users in Vietnam who trade on offshore crypto exchanges like Binance or OKX face heavy penalties. Network School controversy in Malaysia over Israeli citizen ban.

Continue Reading

Coin Market

London Stock Exchange eyes overnight trading launch in 2027: FT

Published

on

By

The move comes as traditional exchanges face growing competition from crypto markets and tokenized equity platforms that offer around-the-clock trading.

Continue Reading

Coin Market

Patrick Witt defers military training as CLARITY heads to Senate

Published

on

By

The decision keeps the administration’s chief crypto policy negotiator in place during what could be a decisive few weeks for the CLARITY Act.

Continue Reading

Trending