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 from 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 on May 22 for around 200 of the biggest investors in $ Trump in his Washington Golf Club, DC, leading to a burst of purchases. 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 distinct analysis of 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 fees for its creators.
The President’s Crypto coin is in no way a safe investment. A Tuesday report from NBC News revealed that out of approximately two million cryptographic portfolios that bought $ Trump, around 764,000 people 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,” said senator Jon Ossoff (D-GA.) 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. ”
Senator Richard Blumenthal (D -CT.), Bencing the Democrat on the Senate Sanalent Sub -Comeding on Investigations, published letters to fight against Fight Fight LLC and World Liberty Financial – The two main commercial entities of the growing cryptographic Empire of the Trump family – informing them that the committee “conducts a preliminary preliminary investigation Potential and violations of Trump President Trump’s law.
“Donald Trump sells cryptocurrencies like snake oil in the West West, and he put a panel for sale in the White House for his same room,” said Blumenthal 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.”
On Tuesday, Senator Chris Murphy (D-CT.) Presented the Act on the Application of the Act on Modern Imoluments and Event (even), which prohibits the President, Vice-President, other members of the Executive Power and members of the Congress and their families to launch pieces of memes or to benefit financially other types of cryptocurrency diagrams.
“Trump’s coin (is) the most contrary and the most corrupted that a president of the United States has ever made,” Murphy said 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.”
