Latest news with #HouseJudiciaryCommittee
Yahoo
19 hours ago
- Business
- Yahoo
Trump's Memecoin Dinner Questioned by Top Democrat on House Judiciary Committee
A senior Democrat in the House of Representatives, Jamie Raskin, joined his name to lawmakers seeking answers about President Donald Trump's recent dinner for top investors in his memecoin, sending questions directly to Trump. Raskin, the ranking Democrat on the House Judiciary Committee, has been a vocal critic of the president and becomes the latest of many from his party to probe details about the event, which they've called out as evidence of White House corruption. Because Raskin is in the minority party, his demands are unlikely to lead to further congressional action unless they regain the House or Senate in next year's elections. "I write today to demand that you release the names of all the attendees at this dinner and provide information about the source of the money they each used to buy $TRUMP coins, so that we can prevent illegal foreign government emoluments from being pocketed without congressional consent," Raskin wrote this week to the president, joining many counterparts in the Senate in seeking the information, including Senators Elizabeth Warren, Chris Murphy and Richard Blumenthal. "We deserve to know who is paying for access to our president, and what steps you took to ensure that the funds you receive are legitimate and legal, rather than the proceeds from foreign states or monarchs or illegal activities," Rasking said, specifically highlighting Tron founder Justin Sun, a guest who was a major early investor in Trump's family crypto operations.
USA Today
a day ago
- Politics
- USA Today
US Rep. Jim Jordan backs Iowa's Rep. Zach Nunn for 2026 reelection bid
US Rep. Jim Jordan backs Iowa's Rep. Zach Nunn for 2026 reelection bid Show Caption Hide Caption President Trump works to sway GOP holdouts on policy bill President Donald Trump is working to clear out GOP opposition to his policy bill, meeting with lawmakers behind closed doors to sway holdouts. Republican U.S. Rep. Jim Jordan cast the political left as 'crazy' and 'mean' while he hyped up his colleague, U.S. Rep. Zach Nunn, at a special meeting of Des Moines' Westside Conservative Club. Jordan, a Republican from Ohio who chairs the House Judiciary Committee, was in Des Moines on Thursday, May 29, supporting Nunn. Nunn is running for reelection to the 3rd Congressional District next year. And the race has begun in earnest as Democrats begin entering the race. Democratic state Reps. Sarah Trone Garriott and Jennifer Konfrst have both announced their candidacies. And national Democrats have once again targeted the seat as a prime pickup opportunity. 'Thanks for getting off the sidelines and getting in the game,' Jordan told the group, which gathered at the Machine Shed Restaurant in Urbandale. 'I learned a long time ago, good things in life don't just happen. You want to accomplish anything that matters … it takes hard work, it takes sacrifice, but most importantly, it takes a willingness to assume risk.' Politics is a risky business, he said, particularly in an age of division. He said the dividing line between the parties currently is one of 'common sense.' 'We're the party of common sense and normal,' he said. 'You think about the left, it is crazy to defund the police. … It's crazy to not have a border. It is crazy to have men compete against women in sports.' He painted Democrats broadly as untrustworthy, pointing to decisions made during the COVID-19 pandemic to shut down schools and churches as well as the current conversation about whether former Democratic President Joe Biden was mentally fit to serve in office. More: $1,000 to seek asylum? House Republicans propose new immigration fees 'The left will tell a lie,' Jordan said. 'Big media will repeat the lie. Big tech will amplify the lie. And then when you tell the truth, they call you a racist or some other name. They'll attack you. They'll come at you personally because they're mean. Then pretty soon, your position will be proven accurate. So much so, in this example even, Jake Tapper wrote a book to say we were right.' Tapper is the co-author of a book that suggests aides and confidantes close to Biden shielded him from the public to hide his declining mental state. Nunn said he had recently spoken to Republican President Donald Trump about the importance of Iowa's congressional races in the coming midterm elections. 'We were just on a conversation with the President, and he said, 'You know what, everybody looks to Iowa, and they might be looking at presidential races coming up in 2028,'' Nunn said. 'But the President said, 'I am laser focused on 2026.'' Nunn again touted the tax cut and spending package that recently cleared the House of Representatives. 'It adds 10,000 new ICE agents,' he said. 'But at this point, we almost don't even need them, because the president has been so effective, they've stopped coming over themselves.' He said he believes there are people who need access to social safety net programs, but he believes the legislation, which makes massive spending cuts to Medicaid and the Supplemental Nutrition Assistance Program, are for the best. 'There are important things that Washington can do for Americans,' Nunn said. 'I'll be the first to say, Social Security, Medicare, Medicaid and SNAP do help Americans. But they have to be used in a way to help Americans with a hand up, not a handout.' Brianne Pfannenstiel is the chief politics reporter for the Des Moines Register. Reach her at bpfann@ or 515-284-8244. Follow her on X at @brianneDMR.
Yahoo
2 days ago
- Business
- Yahoo
Raskin investigating Trump meme coin event
Rep. Jamie Raskin (D-Md.) has opened an investigation into President Trump's meme coin dinner that took place last week and asked the White House to disclose the names of the attendees, warning that foreign governments could be attempting to curry favor with the president through cryptocurrency acquisitions. 'I write today to demand that you release the names of all the attendees at this dinner and provide information about the source of the money they each used to buy $TRUMP coins, so that we can prevent illegal foreign government emoluments from being pocketed without congressional consent,' Raskin, the top Democrat on the House Judiciary Committee, wrote in a late Wednesday letter to Trump. Raskin, who has often criticized the president's foreign dealings, argued that the disclosure of the names of the individuals who attended the May 22 private dinner at Trump's golf club will inform the public about 'who is putting tens of millions of dollars into our President's pocket so we can start to figure out what — beyond virtually worthless memecoins — they are getting in exchange for all this money.' The White House did not immediately respond to The Hill's request for comment. The letter comes as Vice President Vance addressed the crypto industry at the Bitcoin Conference in Las Vegas this week, telling attendees to bolster their involvement in politics. The sector's heavy hitters spent north of $200 million to back crypto-aligned candidates during the 2024 election cycle. 'Take the momentum of your political involvement in 2024 and carry it forward to 2026 and beyond. Don't ignore politics, because I guarantee you, my friends, politics is not going to ignore this community, not now and not in the future,' Vance told the crowd on Wednesday. Fairshake, a pro-crypto Super PAC, and its two affiliates announced in late January that they have $116 million in cash on hand, preparing their war chest for the 2026 midterms. The dinner last week was limited to 220 attendees. The event drew $148 million in purchases, according to crypto firm Inca Digital. Presidents have long attended private dinners to fill the coffers of their political committees, but last week's event will likely benefit Trump family-affiliated businesses, according to Raskin. The buyers at the dinner were not required to file disclosures, as would be the case when donating to political committees. 'Profiting off the memecoin is just the latest in a bewildering gamut of schemes in which you and your family have profited after your return to office and what you call 'the Swamp,'' the Maryland Democrat said. The White House has previously said the private event does not constitute a conflict of interest, saying that Trump's assets are managed by his sons in a blind trust. White House press secretary Karoline Leavitt told reporters the occasion 'is not a White House dinner' and that Trump was attending it in 'his personal time.' Raskin also highlighted in his letter that a Chinese-born crypto mogul Justin Sun invested $75 million in World Liberty Financial, a Trump family venture, after the president won the 2024 presidential election. Then in February, the Securities and Exchange Commission asked a court to halt a suit against Sun for two months. The businessman has faced market manipulation charges since 2023. Sun confirmed that he is the biggest owner of the meme token at the dinner. 'Foreign nationals — who are not allowed to donate a dollar to your presidential campaign under federal election laws — are now purchasing access to you by buying millions of dollars of your personal memecoin,' Raskin wrote. 'Moreover, given the opaque nature of the cryptocurrency buying process, there are few ways to ensure that the money used to purchase your memecoins are not from foreign governments or illegal proceeds in connection with terrorism, drug and human trafficking, money laundering, or other illegal activities,' the Democratic lawmaker added. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
The Hill
2 days ago
- Business
- The Hill
Raskin investigating Trump meme coin event
Rep. Jamie Raskin (D-Md.) has opened an investigation into President Trump's memo coin dinner that took place last week and asked the White House to disclose the names of the attendees, warning that foreign governments could be attempting to curry favor with the president through cryptocurrency acquisitions. 'I write today to demand that you release the names of all the attendees at this dinner and provide information about the source of the money they each used to buy $TRUMP coins, so that we can prevent illegal foreign government emoluments from being pocketed without congressional consent,' Raskin, the top Democrat on the House Judiciary Committee, wrote in a late Wednesday letter to Trump. Raskin, who has often criticized the president's foreign deals, argued that the disclosure of the names of the individuals who attended the May 22 private dinner at Trump's golf club will inform the public about 'who is putting tens of millions of dollars into our President's pocket so we can start to figure out what—beyond virtually worthless memecoins—they are getting in exchange for all this money.' The White House did not immediately respond to The Hill's request for comment. The letter comes as Vice President Vance addressed the crypto industry at the Bitcoin conference in Las Vegas this week, telling attendees to bolster their involvement in politics. The sector's heavy hitters spent north of $200 million to back crypto-aligned candidates during the 2024 election cycle. 'Take the momentum of your political involvement in 2024 and carry it forward to 2026 and beyond. Don't ignore politics, because I guarantee you, my friends, politics is not going to ignore this community, not now and not in the future,' Vance told the crowd on Wednesday. Fairshake, a pro-crypto Super PAC, and its two affiliates announced in late January that they have $116 million in cash on hand, preparing their war chest for the 2026 midterms. The dinner last week was limited to 220 attendees. The event drew $148 million in purchases, according to crypto firm Inca Digital. Presidents have long attended private dinners to fill the coffers of their political committees, but last week's event will likely benefit Trump family-affiliated businesses, according to Raskin. The buyers at the dinner were not required to file disclosures, as would be the case when donating to political committees. 'Profiting off the memecoin is just the latest in a bewildering gamut of schemes in which you and your family have profited after your return to office and what you call 'the Swamp,'' the Maryland Democrat said. The White House has previously said the private event does not constitute a conflict of interest, saying that Trump's assets are managed by his sons in a blind trust. White House press secretary Karoline Leavitt told reporters the occasion 'is not a White House dinner' and that Trump was attending it in 'his personal time.' Raskin also highlighted in his letter that a Chinese-born crypto mogul Justin Sun invested $75 million in World Liberty Financial, a Trump family venture, after the president won the 2024 presidential election. Then in February, the Securities and Exchange Commission asked a court to halt the suit for two months against Sun. The businessman has faced market manipulation charges since 2023. Sun confirmed that he is the biggest owner memo token at the dinner. 'Foreign nationals—who are not allowed to donate a dollar to your presidential campaign under federal election laws—are now purchasing access to you by buying millions of dollars of your personal memecoin,' Raskin wrote. 'Moreover, given the opaque nature of the cryptocurrency buying process, there are few ways to ensure that the money used to purchase your memecoins are not from foreign governments or illegal proceeds in connection with terrorism, drug and human trafficking, money laundering, or other illegal activities,' the Democratic lawmaker added.
Yahoo
2 days ago
- Business
- Yahoo
"A bewildering gamut of schemes": Democrats press Trump for information on "crypto con" dinner
A top House Democrat is demanding more information about President Donald Trump's recent dinner for investors in his crypto meme coin. Rep. Jaime Raskin, D-Md., the ranking member on the House Judiciary Committee, is calling on the president to release the names of attendees at the May 22 gala, which was billed as 'the most exclusive invitation in the world.' 'Publication of this list will also let the American people know who is putting tens of millions of dollars into our President's pocket so we can start to figure out what — beyond virtually worthless memecoins — they are getting in exchange for all this money,' Raskin wrote in a letter to Trump, which was first reported by The Washington Post. The event was attended by the top 220 investors in digital currency. The invitees spent an average of more than $1 million on the coin, according to NBC News, with the top holders spending north of $10 million. 'Profiting off the memecoin is just the latest in a bewildering gamut of schemes in which you and your family have profited after your return to office,' Raskin wrote. 'Entities affiliated with The Trump Organization control 80% of the entire supply of $TRUMP coins—1 billion coins in total— and stand to reap the lion's share of any profits from the venture,' he added. Raskin's probe is the latest example of congressional Democrats targeting Trump's blurring of lines between his official role and his private business interests, including his meme coin, a form of online currency that is based on online jokes and holds no actual value. 'Nowhere is Trump's blatant disregard and disrespect for the rule of law more apparent than in the way he has exploited the office of the presidency to promote shady, fraudulent crypto ventures that hold no real value, and serve no true purpose other than to pad his pockets,' Rep. Maxine Waters, D-Calif,, the ranking member on the House Financial Services Committee, said in a statement last week. 'Trump's crypto con is not just a scam to target investors. It's also a dangerous backdoor for selling influence over American policies to the highest foreign bidder.' Waters concurrently introduced a bill that would prevent the President, Vice President, or members of Congress from profiting from cryptocurrencies. White House Press Secretary Karoline Leavitt has rejected accusations of a conflict of interest, arguing that they are invalid because Trump attended the dinner in his personal time and it was not, officially, 'a White House dinner.'
