Trump to host memecoin gala dinner amid backlash, impeachment calls

Quick Summary:

Controversies grew after Trump announced a dinner and White House tour for some holders of his TRUMP memecoin.“President Trump’s announcement promises exclusive access to the presidency in exchange for significant investment in one of the President’s business ventures,” a letter co-signed by California Democratic Senator Adam Schiff read.

Lummis reportedly said that the idea of the US president offering exclusive access to himself and the White House for people willing to pay for it “gives [her] pause.”In a May 4 post on X, Warren claimed the Trump family’s stablecoin surged in market value due to a “shady crypto deal with the United Arab Emirates,” which involved settling the investment using USD1.

She also suggested that the Senate should refrain from approving pro-crypto bills:“The Senate shouldn’t pass a crypto bill this week to facilitate this kind of corruption.“Related: America’s crypto renaissance is already failing; but we can fix itSource: Elizabeth WarrenWarren’s post included a clip from a recent interview during which Trump gave conflicting answers to whether he has profited from the crypto memecoin he launched in January, just days before he reentered the White House.

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Article Details

Author / Journalist: Cointelegraph by Adrian Zmudzinski

Category: Crypto

Markets: United StatesUnited Arab Emirates

Topics: April Deal White Warren Memecoin Trump Senator Holders President Dinner Crypto

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-05 @ 14:33:35 (14 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 597 words

Reading Time: 4 minutes read

Sentences: 28 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 28402221

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About Coin Telegraph

Main Topics: Crypto

Official Website: cointelegraph.com

Update Frequency: 32 posts per day

Year Established: 2013

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

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News Language: English

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Publisher ID: #11

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