President Donald Trump’s memes play is already something that should not exist, even less as a vehicle for foreign entities to channel money to the president in office, but we are there.
According to a Wednesday report Since BloombergMore than half of the best holders of $ Trump – a personal cryptocurrency token established a few days before its inauguration – are probably foreign buyers, who have thrown millions into the project.
And probably not without reason. Last month, the Token announced That Trump would organize an exclusive dinner of May 22 for around 200 of the biggest investors in $ Trump in his Washington Golf Club DC, leading to a wave of shopping. According to Bloomberg, “76% of the token value maintained among the 220 most important portfolios probably belongs to foreign owners because the portfolios have used exchanges that are not available for American residents.” According to a separate analysis by The Washington Post, About 100 million dollars of tokens were bought after the dinner was announced.
The existence of $ Trump as a piggy bank through which anonymous entities around the world can pour incalculable cash amounts into the president’s chests in exchange for exclusive access to his time is a fairly clear case of corruption. According to an analysis published by The Associated Press Earlier this week, the play has already generated more than $ 320 million in transaction costs for its creators.
The President’s Crypto coin is in no way a safe investment. A Tuesday report from NBC News found that of around two million cryptographic portfolios that bought $ Trump, around 764,000 have lost money on their investment. Only 58 portfolios represent approximately $ 1.1 billion in value gains, each earning more than $ 10 million on their investment.
“The exercise president seems to sell personal cryptocurrencies during his duties, granting access to people who buy him, and thus enriching his business and family. It is Gobsmacking”, Senator Jon Ossoff (D-GA.) said Politico Wednesday. “I would like to hear a republican senator defend him. Any self -respecting congress would require everyone’s accounting for this play which has business in front of the government. ”
The senate issuing Letters to fight against Fight Fight LLC and World Liberty Financial – the two main commercial entities of the growing Empire of the Trump family – by informing them that the committee “conducts a preliminary investigation into potential conflicts of interest and violations of the law of the cryptocurrency company of President Trump”.
“Donald Trump sells cryptocurrencies like snake oil in the West West, and he put a panel for sale in the White House for his room of memes”, Blumenthal said USA today. “People in America deserve to know how it is potentially under the influence of foreign governments and investors who buy its cryptographic assets.”
Tuesday, Senator Chris Murphy (D-CT.) Presented the application of modern emoluments and embezzlement (even) ActThis prohibits the president, vice-president, other members of the executive branch and members of the congress and their families to launch parts even or to benefit financially from other types of cryptocurrency regimes.
“Trump’s coin (is) the most contrary and the most corrupted that a president of the United States has ever made,” said Murphy in a video announcing legislation. “It is essentially a means for any CEO of business, any Saudi prince, any foreign oligarch who has business before the Trump administration to send money to Trump in private, then whisper to the Trump administration on the amount of money they have sent and the favor they need.”
“No member of the executive branch, no member of the congress, should be able to take advantage of their position-and we must certainly not allow these secret means so that very powerful and very rich people can send money to a member of the Congress or to the President of the United States,” he said. “It’s a common sense bill and we just have to do it.”
