{"id":12390,"date":"2025-05-24T14:31:21","date_gmt":"2025-05-24T12:31:21","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=12390"},"modified":"2025-05-24T14:31:21","modified_gmt":"2025-05-24T12:31:21","slug":"trumps-presidential-seal-at-memecoin-event-sparks-legal-controversy","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/05\/24\/trumps-presidential-seal-at-memecoin-event-sparks-legal-controversy\/","title":{"rendered":"Trump’s Presidential Seal at Memecoin Event Sparks Legal Controversy"},"content":{"rendered":"

<\/p>\n

\n

President Donald Trump is under examination following his remarks at a private gathering for major investors in his $TRUMP memecoin while positioned behind a podium adorned with the official presidential emblem \u2014 an action that could breach federal legislation.<\/p>\n

The event occurred last Thursday at Trump National Golf Club<\/a> in Virginia, where Trump spoke to 220 investors regarding his cryptocurrency initiative.<\/p>\n

According to US statute<\/a>, the presidential emblem cannot be utilized in any way that may suggest governmental endorsement or backing. Offenders may incur penalties or face imprisonment for up to six months.<\/p>\n

Trump, who arrived at the club via a military helicopter, complimented attendees and criticized the crypto policies of the Biden administration.<\/p>\n

When questioned about possible conflicts of interest, White House Press Secretary Karoline Leavitt stated<\/a> that the president’s involvement was personal. \u201cIt is not a White House dinner,\u201d she informed reporters. \u201cIt\u2019s not occurring here at the White House.\u201d<\/p>\n

Related: <\/strong><\/em>Photos offer a glimpse inside Trump\u2019s memecoin holder dinner<\/strong><\/em><\/a><\/p>\n

Trump displays presidential emblem at private establishments<\/h2>\n

This isn\u2019t the initial occasion Trump has showcased the presidential emblem at his private venues. Forbes had previously reported<\/a> its usage as golf markers at various Trump-owned resorts.<\/p>\n

In a letter dated May 22 to the Justice Department, 35 House members\u00a0requested\u00a0the public integrity section acting chief, Edward Sullivan, to initiate an investigation regarding the memecoin dinner<\/a> to establish whether it breached the federal bribery statute or the foreign emoluments provision of the US Constitution.<\/p>\n

According to the emoluments provision, a US president is prohibited from accepting any gift from a foreign nation without Congressional approval.<\/p>\n

Source: <\/em>Molly Ploofkins<\/em><\/a><\/figcaption><\/figure>\n

Bloomberg\u00a0reported<\/a> that the majority of participants at the memecoin dinner were probably foreign nationals based on their affiliations with crypto exchanges.\u00a0<\/p>\n

\u201cUS law forbids foreign individuals from contributing to US political campaigns,\u201d noted the letter. \u201cHowever, the $TRUMP memecoin, including the promotion of a dinner promising exclusive access to the President, enables foreign governments to purchase influence with the President, all while concealing their identities.\u201d<\/p>\n

Related: <\/strong><\/em>US legislator proposes anti-corruption bill prior to Trump’s dinner<\/strong><\/em><\/a><\/p>\n

Trump supports crypto despite earlier hesitance<\/h2>\n

Trump\u2019s endorsement of crypto signifies a significant shift from his previous skepticism during his first term. The $TRUMP memecoin, launched earlier in the year, reached a peak of $74.34 before declining to $14.44 by May 22.<\/p>\n

Notable guests at the dinner included Tron founder Justin Sun<\/a>, ex-NBA player Lamar Odom, and Asian crypto leaders Sangrok Oh and Vincent Liu.<\/p>\n