President Trump likes flying close to the sun regarding his family business, and the flight is closer than ever in his second term. Is no one advising Mr. Trump that his family’s crypto plans are inviting trouble?
Mr. Trump said last month that he’ll host a dinner with the top 220 holders of his $TRUMP meme coin at his Washington, D.C.-area golf club on May 22. Step right up and invest in the Trump crypto enterprise for a chance to rub elbows with the leader of the free world. The President says all of this is above board. But it nonetheless raises the appearance of a conflict of interest in selling access to the President.
The Trump Organization and affiliates hold 80% of $TRUMP coin tokens, which are subject to a three-year unlocking period. Any price appreciation caused by frenzied buying boosts the Trump family fortune, at least on paper. The Trump family businesses and their partners have benefited from more than $300 million in revenue generated by trading in the coin, according to the blockchain firm Chainalysis. A percentage of each trade is routed to crypto wallets linked to the coin’s creators, similar to a transaction fee.
President Clinton used to host Teas" with Far Easterners in the Lincoln Bedroom in exchange for campaign donations.. (I guarantee you there was no tea in those cups. Scotch or bourbon, for sure).
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