5 hours ago
3 
Former President Donald Trump’s latest cryptocurrency ventures have sparked controversy once again. His high-priced fundraising dinners and personal involvement in digital assets are drawing sharp criticism from ethics watchdogs and advocacy groups. The emerging Trump crypto scandal—centered around pricey dinners and a personal memecoin—has triggered concerns over conflicts of interest, self-enrichment, and regulatory capture.
$1.5 Million Per Plate: The Crypto & AI Innovators Dinner
Trump is slated to attend two crypto-themed fundraising dinners this month, including the “Crypto & AI Innovators Dinner,” hosted by MAGA Inc., a super PAC that supports him. The cost of attendance? A staggering $1.5 million per plate.
Special guest David Sacks will join Trump at the event, and while MAGA Inc. supports his political initiatives, Trump is not eligible to run for a third term, prompting questions about where this massive influx of money is going. Critics say this type of event raises transparency and ethics red flags.
The dinners come amid Trump’s broader campaign to position the United States as the “crypto capital of the world,” a message that resonates with a new wave of digital asset investors. But the Trump crypto scandal goes deeper than policy.
Dinner for $Trump Holders: Profiting from a Memecoin
On May 22, Trump will host another exclusive dinner—this one reserved for the top 220 investors in his personal memecoin, $Trump. Around 80% of the token’s supply is controlled by the Trump Organization and its affiliates, giving the former president massive influence over its value and distribution.
The $Trump memecoin launched in January and surged in value after Trump announced the dinner incentive. It peaked at approximately $70 and has gained around 60% in value since the announcement. According to a Reuters report, Trump has already made an estimated $100 million in trading fees alone from the token.
Critics argue this blurs the line between personal business and public policy, especially as Trump continues to push for national crypto adoption.
Ethics Groups Sound the Alarm
The nonprofit State Democracy Defenders Action released a report warning that Trump is likely to profit directly from the policies he’s now advocating. The report highlights his creation of a Strategic Bitcoin Reserve and a blockchain-focused directive earlier this year.
“The regulation of digital assets is in its nascency,” the report said, “but rather than divest his crypto assets to avoid any possible conflict of interest, President Trump seems to have positioned himself to maximize profiting from them.”
Another watchdog group, Accountable.US, went further in its criticism, labeling the memecoin dinners as a “nakedly corrupt self-enriching scheme.” Executive Director Tony Carrk stated, “The President is openly inviting investors to have a bidding war over who can buy the most access to him while he laughs all the way to the bank.”
The potential for influence peddling has become a central feature of the Trump crypto scandal, with observers warning that special interests could exploit these dinners to gain favorable policies in a future administration.
Conflict of Interest or Crypto Leadership?
Trump’s team argues that his goal is to make the U.S. a leader in blockchain technology and digital currency. Supporters view the dinners and memecoin as innovative ways to fundraise and engage with crypto-savvy audiences. Still, with Trump and his affiliates holding the majority of the $Trump supply, critics say there is a clear and present conflict of interest.
His dual role as a promoter of crypto policy and a private stakeholder with millions at stake raises questions rarely seen in modern U.S. politics.
The Future of Crypto Under Trump
As the 2024 election cycle unfolds, Trump’s deep ties to cryptocurrency—both ideological and financial—will remain a hot-button issue. Whether the Trump crypto scandal derails or fuels his political momentum depends on how voters and regulators respond to these overlapping interests.
For now, the line between policy and profit has never looked blurrier.
Featured Image: Freepik © hoaixuanboss
Bengali (Bangladesh) · 
English (United States) ·