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The Hindu
23-05-2025
- Business
- The Hindu
Trump hosts gala for crypto memecoin buyers despite corruption concerns
U.S. President Donald Trump on Thursday will host a private event for hundreds of top investors in his crypto memecoin, with leaders of the Democratic opposition blasting it as "an orgy of corruption." The unprecedented melding of U.S. presidential power and personal business will take place at Trump's golf club outside Washington, where the 220 biggest purchasers of the $TRUMP memecoin will have dinner with the president. The top 25 investors, according to an event website, will get a private session with Trump beforehand and a White House tour. Trump launched the memecoin three days before his January inauguration, quickly increasing his net worth by billions and raising major ethics concerns, including over possible foreign influence. Democratic Senator Elizabeth Warren and colleagues called Thursday for Trump to disclose who is attending the dinner. Calling the dinner "an orgy of corruption," Warren told a press conference that Trump "is using the presidency of the United States to make himself richer through crypto." Data analytics firm Inca Digital has confirmed that many transactions occurred through international exchanges unavailable in the United States, suggesting foreign buyers. Chinese-born crypto entrepreneur Justin Sun claims the top investor position, having committed $20 million to the memecoin as part of his $93 million total investment in Trump-linked crypto ventures. Sun, founder of top 10 cryptocurrency TRON, was under investigation by U.S. authorities for market manipulation, but regulators, now controlled by Trump appointees, agreed in February to a 60-day pause to seek a settlement. According to the website Popular Information, a few weeks before that decision, Sun purchased $30 million in digital assets from a venture backed by Trump and his family. "Honored to support @POTUS and grateful for the invitation to attend President Trump's Gala Dinner as his TOP fan!" Sun wrote Tuesday on X. Justin Unga of advocacy group End Citizens United described the crypto dinner as a blatant example of Trump profiting from the presidency while roiling the U.S. economy. "Some say this is a back door to corruption," Unga said. "I would argue it's the front door with valet parking, and it's got a red carpet... and a slap in the face of hard working Americans." White House Press Secretary Karoline Leavitt dismissed the allegations of impropriety Thursday, telling a briefing that Trump is attending the dinner in his "personal time" and abiding by applicable conflict of interest laws. The dinner comes as the U.S. Senate is pushing through legislation to more clearly regulate cryptocurrencies, a long-sought request of the industry. Senators on Monday advanced a landmark bill known as the GENIUS Act that proposes a regulatory framework for stablecoins, a type of crypto token seen as more predictable for investors as its value is pegged to hard currencies like the dollar. That legislation had faced roadblocks in part because of Trump's dabbling in cryptocurrencies; a rising sector he once dismissed as a scam. His stance reversed during the 2024 presidential campaign when crypto tycoons, frustrated by perceived unfair treatment under the Biden administration, became major contributors to his campaign. Bitcoin's price hit a new all-time high on Thursday, climbing above $111,000 before falling slightly. Trump's newfound enthusiasm for digital currencies has expanded into multiple ventures led primarily by his eldest sons. Their growing portfolio includes investments in Binance, a major crypto exchange whose founder seeks a presidential pardon to re-enter the U.S. market. This investment flows through World Liberty Financial, a Trump family-backed venture launched last September with significant Mideast deals. The company's founding team includes Donald Jr. and Eric Trump alongside Zach Witkoff, son of Trump's diplomatic adviser. President Trump has taken concrete steps to reduce regulatory barriers, including an executive order establishing a "Strategic Bitcoin Reserve" for government holdings of the leading digital currency.
France 24
22-05-2025
- Business
- France 24
Trump hosts gala for memecoin buyers despite corruption concerns
The unprecedented melding of US presidential power and personal business will take place at Trump's golf club outside Washington, where the 220 biggest purchasers of the $TRUMP memecoin will have dinner with the president. The top 25 investors, according to an event website, will get a private session with Trump beforehand and a White House tour. Trump launched the memecoin three days before his January inauguration, quickly increasing his net worth by billions and raising major ethics concerns, including over possible foreign influence. Democratic Senator Elizabeth Warren and colleagues called Thursday for Trump to disclose who is attending the dinner. Calling the dinner "an orgy of corruption," Warren told a press conference that Trump "is using the presidency of the United States to make himself richer through crypto." Data analytics firm Inca Digital has confirmed that many transactions occurred through international exchanges unavailable in the United States, suggesting foreign buyers. Chinese-born crypto entrepreneur Justin Sun claims the top investor position, having committed $20 million to the memecoin as part of his $93 million total investment in Trump-linked crypto ventures. Sun, founder of top 10 cryptocurrency TRON, was under investigation by US authorities for market manipulation, but regulators, now controlled by Trump appointees, agreed in February to a 60-day pause to seek a settlement. According to the website Popular Information, a few weeks before that decision, Sun purchased $30 million in digital assets from a venture backed by Trump and his family. "Honored to support @POTUS and grateful for the invitation to attend President Trump's Gala Dinner as his TOP fan!" Sun wrote Tuesday on X. Justin Unga of advocacy group End Citizens United described the crypto dinner as a blatant example of Trump profiting from the presidency while roiling the US economy. "Some say this is a back door to corruption," Unga said. "I would argue it's the front door with valet parking, and it's got a red carpet... and a slap in the face of hard working Americans." White House Press Secretary Karoline Leavitt dismissed the allegations of impropriety Thursday, telling a briefing that Trump is attending the dinner in his "personal time" and abiding by applicable conflict of interest laws. More regulation? The dinner comes as the US Senate is pushing through legislation to more clearly regulate cryptocurrencies, a long-sought request of the industry. Senators on Monday advanced a landmark bill known as the GENIUS Act that proposes a regulatory framework for stablecoins -- a type of crypto token seen as more predictable for investors as its value is pegged to hard currencies like the dollar. That legislation had faced roadblocks in part because of Trump's dabbling in cryptocurrencies -- a rising sector he once dismissed as a scam. His stance reversed during the 2024 presidential campaign when crypto tycoons, frustrated by perceived unfair treatment under the Biden administration, became major contributors to his campaign. Bitcoin's price hit a new all-time high on Thursday, climbing above $111,000 before falling slightly. Expanding empire Trump's newfound enthusiasm for digital currencies has expanded into multiple ventures led primarily by his eldest sons. Their growing portfolio includes investments in Binance, a major crypto exchange whose founder seeks a presidential pardon to re-enter the US market. This investment flows through World Liberty Financial, a Trump family-backed venture launched last September with significant Mideast deals. The company's founding team includes Donald Jr. and Eric Trump alongside Zach Witkoff, son of Trump's diplomatic adviser. President Trump has taken concrete steps to reduce regulatory barriers, including an executive order establishing a "Strategic Bitcoin Reserve" for government holdings of the leading digital currency. © 2025 AFP
Int'l Business Times
22-05-2025
- Business
- Int'l Business Times
Trump Hosts Gala For Memecoin Buyers Despite Corruption Concerns
US President Donald Trump on Thursday will host a private event for hundreds of top investors in his crypto memecoin, with leaders of the Democratic opposition blasting it as "an orgy of corruption." The unprecedented melding of US presidential power and personal business will take place at Trump's golf club outside Washington, where the 220 biggest purchasers of the $TRUMP memecoin will have dinner with the president. The top 25 investors, according to an event website, will get a private session with Trump beforehand and a White House tour. Trump launched the memecoin three days before his January inauguration, quickly increasing his net worth by billions and raising major ethics concerns, including over possible foreign influence. Democratic Senator Elizabeth Warren and colleagues called Thursday for Trump to disclose who is attending the dinner. Calling the dinner "an orgy of corruption," Warren told a press conference that Trump "is using the presidency of the United States to make himself richer through crypto." Data analytics firm Inca Digital has confirmed that many transactions occurred through international exchanges unavailable in the United States, suggesting foreign buyers. Chinese-born crypto entrepreneur Justin Sun claims the top investor position, having committed $20 million to the memecoin as part of his $93 million total investment in Trump-linked crypto ventures. Sun, founder of top 10 cryptocurrency TRON, was under investigation by US authorities for market manipulation, but regulators, now controlled by Trump appointees, agreed in February to a 60-day pause to seek a settlement. According to the website Popular Information, a few weeks before that decision, Sun purchased $30 million in digital assets from a venture backed by Trump and his family. "Honored to support @POTUS and grateful for the invitation to attend President Trump's Gala Dinner as his TOP fan!" Sun wrote Tuesday on X. Justin Unga of advocacy group End Citizens United described the crypto dinner as a blatant example of Trump profiting from the presidency while roiling the US economy. "Some say this is a back door to corruption," Unga said. "I would argue it's the front door with valet parking, and it's got a red carpet... and a slap in the face of hard working Americans." White House Press Secretary Karoline Leavitt dismissed the allegations of impropriety Thursday, telling a briefing that Trump is attending the dinner in his "personal time" and abiding by applicable conflict of interest laws. The dinner comes as the US Senate is pushing through legislation to more clearly regulate cryptocurrencies, a long-sought request of the industry. Senators on Monday advanced a landmark bill known as the GENIUS Act that proposes a regulatory framework for stablecoins -- a type of crypto token seen as more predictable for investors as its value is pegged to hard currencies like the dollar. That legislation had faced roadblocks in part because of Trump's dabbling in cryptocurrencies -- a rising sector he once dismissed as a scam. His stance reversed during the 2024 presidential campaign when crypto tycoons, frustrated by perceived unfair treatment under the Biden administration, became major contributors to his campaign. Bitcoin's price hit a new all-time high on Thursday, climbing above $111,000 before falling slightly. Trump's newfound enthusiasm for digital currencies has expanded into multiple ventures led primarily by his eldest sons. Their growing portfolio includes investments in Binance, a major crypto exchange whose founder seeks a presidential pardon to re-enter the US market. This investment flows through World Liberty Financial, a Trump family-backed venture launched last September with significant Mideast deals. The company's founding team includes Donald Jr. and Eric Trump alongside Zach Witkoff, son of Trump's diplomatic adviser. President Trump has taken concrete steps to reduce regulatory barriers, including an executive order establishing a "Strategic Bitcoin Reserve" for government holdings of the leading digital currency. The dinner comes as the Senate is pushing through legislation to more clearly regulate cryptocurrencies AFP
Hindustan Times
22-05-2025
- Business
- Hindustan Times
Trump hosts gala for memecoin buyers despite corruption concerns
US President Donald Trump on Thursday will host a private event for hundreds of top investors in his crypto memecoin, with leaders of the Democratic opposition blasting it as "an orgy of corruption." The unprecedented melding of US presidential power and personal business will take place at Trump's golf club outside Washington, where the 220 biggest purchasers of the $TRUMP memecoin will have dinner with the president. The top 25 investors, according to an event website, will get a private session with Trump beforehand and a White House tour. Trump launched the memecoin three days before his January inauguration, quickly increasing his net worth by billions and raising major ethics concerns, including over possible foreign influence. Democratic Senator Elizabeth Warren and colleagues called Thursday for Trump to disclose who is attending the dinner. Calling the dinner "an orgy of corruption," Warren told a press conference that Trump "is using the presidency of the United States to make himself richer through crypto." Data analytics firm Inca Digital has confirmed that many transactions occurred through international exchanges unavailable in the United States, suggesting foreign buyers. Chinese-born crypto entrepreneur Justin Sun claims the top investor position, having committed $20 million to the memecoin as part of his $93 million total investment in Trump-linked crypto ventures. Sun, founder of top 10 cryptocurrency TRON, was under investigation by US authorities for market manipulation, but regulators, now controlled by Trump appointees, agreed in February to a 60-day pause to seek a settlement. According to the website Popular Information, a few weeks before that decision, Sun purchased $30 million in digital assets from a venture backed by Trump and his family. "Honored to support @POTUS and grateful for the invitation to attend President Trump's Gala Dinner as his TOP fan!" Sun wrote Tuesday on X. Justin Unga of advocacy group End Citizens United described the crypto dinner as a blatant example of Trump profiting from the presidency while roiling the US economy. "Some say this is a back door to corruption," Unga said. "I would argue it's the front door with valet parking, and it's got a red carpet... and a slap in the face of hard working Americans." White House Press Secretary Karoline Leavitt dismissed the allegations of impropriety Thursday, telling a briefing that Trump is attending the dinner in his "personal time" and abiding by applicable conflict of interest laws. The dinner comes as the US Senate is pushing through legislation to more clearly regulate cryptocurrencies, a long-sought request of the industry. Senators on Monday advanced a landmark bill known as the GENIUS Act that proposes a regulatory framework for stablecoins a type of crypto token seen as more predictable for investors as its value is pegged to hard currencies like the dollar. That legislation had faced roadblocks in part because of Trump's dabbling in cryptocurrencies a rising sector he once dismissed as a scam. His stance reversed during the 2024 presidential campaign when crypto tycoons, frustrated by perceived unfair treatment under the Biden administration, became major contributors to his campaign. Bitcoin's price hit a new all-time high on Thursday, climbing above $111,000 before falling slightly. Trump's newfound enthusiasm for digital currencies has expanded into multiple ventures led primarily by his eldest sons. Their growing portfolio includes investments in Binance, a major crypto exchange whose founder seeks a presidential pardon to re-enter the US market. This investment flows through World Liberty Financial, a Trump family-backed venture launched last September with significant Mideast deals. The company's founding team includes Donald Jr. and Eric Trump alongside Zach Witkoff, son of Trump's diplomatic adviser. President Trump has taken concrete steps to reduce regulatory barriers, including an executive order establishing a "Strategic Bitcoin Reserve" for government holdings of the leading digital currency. arp-gc/des
Yahoo
23-04-2025
- Politics
- Yahoo
U.S. Citizen Detained for 10 Days Says DHS Lied About Everything
The U.S. government detained a U.S. citizen for 10 days on claims he was an undocumented immigrant, and then lied in their official account. Jose Hermosillo is a 19-year-old New Mexico resident who visited his girlfriend's family in Tucson, Arizona, earlier this month. After suffering from a seizure, he was transported to a hospital by ambulance, and did not have his state ID. After being released from the Tucson hospital, Hermosillo did not know how to get back to where he was staying, he told the Popular Information newsletter. He sought out a police officer for help. That officer happened to work for Border Patrol, and asked Hermosillo where he was from and if he had papers. Hermosillo said 'New Mexico,' to which the officer replied, 'Don't make me [out] like [I'm] stupid. I know you're from Mexico.' Hermosillo was then arrested. But the Department of Homeland Security's account says something completely different. According to the DHS X account, 'Hermosillo's arrest and detention were a direct result of his own actions and statements.' 'Jose Hermosillo approached Border Patrol in Tucson Arizona stating he had ILLEGALLY entered the U.S. and identified himself as a Mexican citizen,' the account stated Monday. The DHS also released a supposed transcript of Hermosillo's conversation with a Border Patrol agent signed 'JOSE' in which Hermosillo said he was born in Mexico and illegally entered the U.S. According to Hermosillo's girlfriend, he has learning disabilities and is only able to write his own name. He told Popular Information that he did not graduate from high school, only finishing the 10th grade. According to the DHS report, Hermosillo 'read' their document or had it read to him, but he says that never happened. On top of that, the documents contain inaccurate information, claiming that Hermosillo was detained 'at or near Nogales, Arizona,' which is more than 70 miles away from Tucson. Hermosillo was then held in a cell with 15 other men at Florence Correctional Center, a privately run immigration detention facility, for 10 days before being released on April 17. Two days into his detention, he told a judge that he was a U.S. citizen, but prosecutors then asked that his hearing be rescheduled, with Hermosillo remaining in detention until then. Seven days later, at the next hearing, his family provided the immigration court with his birth certificate. While in detention, Hermosillo contracted the flu, but was not provided with any medicine after he requested it. His pleas to prison staff that he was a U.S. citizen were met with replies of 'call your lawyer.' Ultimately, while Hermosillo managed to secure his release, his account is a horror story of how quickly someone can be detained on the suspicion of being an undocumented immigrant, and how the government will even lie to keep someone in detention. The Trump administration is staunchly resisting any kind of legal safeguard to protect the rights of immigrants, or those mistakenly detained, blatantly denying people the right of due process.
