Donald Trump sparks legal storm after flashing Presidential seal at controversial $TRUMP memecoin gala dinner
Donald Trump faces controversy after showcasing the presidential seal at an exclusive cryptocurrency dinner for his $TRUMP memecoin investors.
The event has prompted legal questions regarding possible federal law violations. It has been criticized as a matter of concern regarding bribery, influence, and ethics, especially given Trump's recent acceptance of cryptocurrency, as per reports.
Did Donald Trump break the law by using the seal?
President Donald Trump is under investigation for possibly breaking federal law when he stood behind a lectern bearing the official presidential seal while addressing a private gathering for leading investors in his $TRUMP memecoin, as quoted in a report by Coin Telegraph.
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Undo
Donald Trump spoke to 220
cryptocurrency investors
at the event, which was held Thursday at the
Trump National Golf Club
in Virginia.
ALSO READ:
Trump ally Marjorie Taylor Greene gets into a fight with Elon Musk's xAI bot Grok, users royally troll her
Live Events
The presidential seal is prohibited by US law from being used in any way that would suggest endorsement or support from the government. Infractions may result in fines or a maximum jail sentence of six months.
President Trump praised guests and criticized the Biden administration's position on cryptocurrency.
White House Press Secretary Karoline Leavitt responded that the president's involvement was personal when questioned about possible conflicts of interest.
She informed reporters that it was not a White House dinner as it ain't happening at the White House.
Donald Trump has previously displayed the presidential seal on his private properties. Its use as golf markers at a number of Trump-owned clubs has already been documented by Forbes.
Is foreign influence a real concern here?
In a letter to the Justice Department dated May 22, 35 members of the House requested that Edward Sullivan, the acting head of the public integrity section, begin an investigation into the memecoin dinner to see if it violated the US Constitution's
foreign emoluments clause
or the federal bribery statute.
A US president cannot accept a gift from a foreign nation without Congress's consent, according to the emoluments clause.
According to Bloomberg, the majority of people who attended the memecoin dinner were probably foreigners because of their ties to cryptocurrency exchanges.
The letter stated that foreigners are not allowed to donate to US political campaigns due to US law. But the $TRUMP memecoin, which advertises a dinner with special access to the president, makes it possible for foreign governments to purchase influence with the president without revealing who they are, as per a report by Coin Telegraph.
FAQs
Why is Donald Trump in trouble for the memecoin dinner?
He used the official presidential seal at a private investor event, potentially violating federal law and raising ethical concerns.
Who attended the dinner?
Foreign crypto investors, Tron founder Justin Sun, and former NBA star Lamar Odom were among those in attendance.
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