Senator Cynthia Lummis along with at least one other Republican in Congress are reportedly expressing concern regarding US President Donald Trump for offering exclusive dinner invitations and a White House tour to the main holders of his memecoin.
As per a May 2 CNBC report, Lummis stated that the notion of the US president providing privileged access to himself and the White House to individuals who are willing to pay raises concerns for her. She was not the only Republican to voice criticism over Trump’s memecoin incentives, reported on April 23, approximately three months subsequent to the then-president-elect unveiling the TRUMP token.
“I don’t think it would be suitable for me to charge individuals for a Capitol tour,” remarked Republican Senator Lisa Murkowski, according to NBC News.
Despite Lummis’ alleged concerns regarding the president’s behavior, on May 2, she shared a video on X featuring her remarks on the Senate floor, expressing that she was “particularly pleased” with Trump’s backing of legislation aimed at creating a strategic Bitcoin (BTC) reserve in the United States. The Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide, or BITCOIN, Act would seemingly formalize Trump’s executive order establishing a national crypto reserve.
Related: House Democrats seek ethics investigation into Trump over crypto projects
The introduction of the TRUMP coin on January 17 was met with indignation from several lawmakers and individuals within the cryptocurrency sector, who highlighted potential conflicts of interest and concerns about foreign entities being able to funnel funds directly to Trump. The backlash persisted following Trump’s announcement that a select group of the leading memecoin holders would have the chance to apply for a White House tour and dinner.
“Trump previously asserted that he is so affluent he cannot be purchased,” said Craig Holman, a government ethics specialist with the consumer advocacy group Public Citizen. “But his fixation on money suggests he can indeed be purchased for a meme.”
Calls for impeachment over connections to crypto
Georgia Senator Jon Ossoff, a Democrat, demanded Trump’s impeachment during an April 25 town hall, arguing that the memecoin dinner symbolized “selling access for what are effectively payments made directly to him.” In his initial term, Trump faced impeachment twice in the House of Representatives but was acquitted after Senate votes fell short of the necessary two-thirds majority for conviction.
At the time of publication, it was uncertain whether any of the memecoin holders would be present at the May 22 dinner with Trump. Usernames from the TRUMP leaderboard have sparked speculation that dedicated supporters such as Tron founder Justin Sun and Tesla CEO Elon Musk could potentially be among the guests. As of May 2, neither the individuals nor their companies have issued any official statements.
Magazine: Trump’s crypto initiatives raise conflict of interest and insider trading concerns
