Corruption and the $TRUMP meme coin. When President Donald Trump announced that he will host a dinner for the top holders of the $TRUMP meme coin, complete with a private reception and White House tour for the top 25 investors, I was struck by the sheer audacity of the move. The fact that Trump is auctioning off access to the presidency is not new, but this particular instance is more shameless than ever before. The $TRUMP meme coin is a cryptocurrency that was launched by Trump in January, and it is clear that he is profiting from its success. The President is able to personally profit from the coin in several ways. A business entity linked to Trump owns a large tranche of the coins, meaning that the president will profit every time the price increases. Trump and his business partners also collect fees when the coins are traded, a windfall that amounted to nearly $100 million in the weeks after the coin debuted in January. The public is paying attention, and the price of the coin surged more than 50% after Trump made the announcement. This brings Trump more money, and he may also stand to make an additional profit by holding the dinner at one of his golf clubs. The buying process is also extremely opaque. At the end of the day, we don’t know everyone who is spending money at his properties, investing in Truth Social or buying up his crypto assets. The White House and the company behind the meme coin did not respond to recent NBC News requests for comment. This raises serious ethics concerns, but the current laws outside of the Emoluments Clauses of the Constitution don’t apply to the president. Those clauses bar the president from receiving profits, gains or advantages from foreign, state and federal governments. Unless a state, federal or foreign government purchased the $TRUMP coins, there’s very little we, or anyone, can do. However, because the buyers behind crypto transactions are generally not disclosed, foreign governments could in fact be buying these coins, meaning that Trump could be violating the Constitution without the public finding out. Individuals or special interests could also be buying the coins in the hopes of directly influencing presidential decisions that will affect all of us. Here, too, the public likely wouldn’t know. This is unacceptable.
| Example | Consequence |
|---|---|
| Foreign governments buying $TRUMP coins | Trump could be violating the Constitution without the public finding out |
| Special interests buying $TRUMP coins | Individuals or special interests could be directly influencing presidential decisions that will affect all of us |
What’s Happening Here
Trump is auctioning off access to the presidency, and the highest bidders will get to meet him at his club. This is a brazen attempt to profit from the presidency, and it’s a clear abuse of power. The $TRUMP meme coin is a cryptocurrency that was launched by Trump in January, and it is clear that he is profiting from its success. The President is able to personally profit from the coin in several ways. A business entity linked to Trump owns a large tranche of the coins, meaning that the president will profit every time the price increases. Trump and his business partners also collect fees when the coins are traded, a windfall that amounted to nearly $100 million in the weeks after the coin debuted in January.
Why It’s a Problem
This is not just a problem for the buyers of the $TRUMP meme coin. It’s a problem for the American people. Trump is giving the highest bidders access to the president while lining his own pockets. These wealthy investors are getting a unique chance to potentially influence decisions that could affect regular Americans’ lives. Meanwhile, tens of thousands of civil servants are losing their jobs thanks to Trump’s administration’s budget cuts, with a possible recession on the horizon as a result of Trump’s tariff policy.
Opportunities for Reform
While this is a disturbing development, there are opportunities for reform. The current laws outside of the Emoluments Clauses of the Constitution don’t apply to the president, but there are steps that can be taken to address this issue. For example, the government can increase transparency in the buying and selling of crypto assets, including the $TRUMP meme coin. This can help to identify potential foreign government buyers and prevent corruption. Additionally, the government can strengthen the ethics laws that apply to the president. This can include increasing penalties for violations of the Emoluments Clauses and providing more protections for whistleblowers.
Conclusion
The $TRUMP meme coin auction is a disturbing example of corruption and the abuse of power. Trump is auctioning off access to the presidency, and the highest bidders will get to meet him at his club. This is a clear abuse of power, and it’s a problem for the American people. The public needs to be aware of this issue and to demand action from their elected officials. We cannot allow corruption and abuse of power to pass by as a new normal.
Call to Action
If you are concerned about this issue, there are steps you can take to make a difference. You can contact your elected officials and express your concerns. You can also support organizations that are working to address corruption and abuse of power. Together, we can make a difference and ensure that our government is working for the people, not for the wealthy few.
