US President Donald Trump will organize a gala evening dinner for top owners of his official Trump (Trump) -Memecoin, despite cross -party criticism and renewed demands for the survey.
In a social post of May 5, Trump announced that on May twenty second he’ll hold a gala evening dinner with large Trump owners. The announcement follows several US legislators who’re concerned concerning the initiative.
At the top of April, Senator Elizabeth Warren from Massachusett's government official asked to reply questions on Trump's Memecoin and his media company. The controversy grew after Trump announced a dinner and a tour of the White House for some owners of his Trump -Memecoin.
“The announcement by President Trump guarantees the exclusive access to the presidency in exchange for considerable investments in considered one of the President's business firms,” read a letter that was signed by the Democratic Senator of California.
A call to survey via a Memecoin
At the top of April, Senator Jon Ossoff also expressed support for Trump's indictment in a town hall on April 25, during which he quoted the plan of the president to arrange dinner for TOP -Trump -Memecoin. He said:
“If the sitting president of the United States sells access to the effective payments directly.
The Pro crypto senator Cynthia Lummis and at the least one other Republican within the congress were reportedly critical because he offered the highest owners of his Memecoin A-evening dinner and the white house tour. Lummis from Wyoming supposedly said that the US President, the exclusive access to himself and to the White House for the payment of the one, “gives” [her] Pause.”
In a contribution from May 4 on X, Warren claimed that the Trump family's stable coin had fallen available in the market value because of a “shady crypto contract with the United Arab Emirates”, during which the investment using USD1 was solved. She argued that this is able to express serious national security concerns and warned of the Senate to say goodbye to crypto -friendly laws.
Warren expressed concerns concerning the involvement of abroad concerning the US President's funds. She also suggested that the Senate mustn’t approve any pro-crypto calculations:
“The Senate mustn’t adopt crypto bill this week to facilitate this type of corruption.”Source: Elizabeth Warren
Niko Daschuk, head of the legally on the crypto compliance company Amlbot, told CoinTelegraph that “Senator Warren's concerns regarding the” pro-crypto “bills highlight tensions between the promotion of stable coin innovation and the mitigating risks resembling foreign influence or self-help by civil servants. He said that the legislator can construct protective measures resembling disclosure requirements, anti-conflicts of interests and independent audits. He added:
“These protective measures are concerned with Warren's concerns by priorizing transparency and accountability without suppressing the legitimate development of stablecoin. You could be sure that the USA will remain a hub for responsible innovations and at the identical time protect against abuse by civil servants or foreign actors.”
Warren's contribution included a clip from a recent interview during which Trump gave contradictory answers whether he benefited from the Krypto -Memecoin, which he only entered in January a number of days before he got here back. During the clip, the President claims not even to ascertain whether he benefited from his efforts.
The United Arab Emirates act
Warren probably referred to the newest deal during which the MGX USD 1 investment company based in Abu Dhabi was used to take a position an investment of $ 2 billion in Binance, the world's largest cryptocurrency exchange. According to CoinmarketCAP data, the market capitalization of StableCoin increased on May 1 on May 2 from lower than 137 million US dollars to almost $ 2.13 billion.
Eric Trump announced the deal during a panel discussion at Token2049 in Dubai. Trump, the president's son, is Executive Vice President of the Trump organization. He said through the event:
“The USA see that the financial world has to make progress. It is a joke. Why do the banks run nine to 5 from Monday to Friday, with one and a half hours of lunch break? It is not sensible.”
Similar to Memecoin, the USD1 StableCoin also attracted its appropriate proportion of criticism. At the start of April, some US legislators went to this point that Trump wanted to interchange the USD1 US dollar.
