Democratic Senators Demand Ethics Probe Over Trump Meme Coin Dinner
Senators Elizabeth Warren and Adam Schiff requested an ethics investigation into President Trump's invitation for top holders of his meme coin to a private dinner at his golf club, citing potential "pay to play" corruption. The promotion offered the top 220 holders of the TRUMP Solana token exclusive access to a May 22 dinner, with the top 25 investors receiving a VIP reception with Trump. Following the announcement, the token's price surged from about $12 to $15.2, with its market capitalization increasing from $1.6 billion to over $3 billion. Critics, including Public Citizen, have raised concerns about Trump's solicitation of funds without clear benefits. Reports indicate potential foreign influence, with one investor purchasing $13 million in tokens through a Chinese-founded exchange. Warren and Schiff highlighted risks of foreign actors using the meme coin to gain influence without disclosing identities. Attendees are required to provide personal information for the event.
