‘Most Corrupt Act’: Sen. Chris Murphy Moves to Ban Donald Trump From Shilling Meme Coin
Connecticut Senator Chris Murphy introduced the Modern Emoluments and Malfeasance Enforcement (MEME) Act, aimed at prohibiting federal officials, including President Donald Trump, from promoting the Official Trump meme coin. The bill targets self-dealing and requires officials to avoid using public office for financial gain. The meme coin, launched before Trump's inauguration, is valued at approximately $2.1 billion. Murphy criticized the coin as a significant corruption issue, stating it allows wealthy individuals to influence the president financially. Trump is scheduled to host a gala for top TRUMP holders, raising concerns among lawmakers, including Senator Elizabeth Warren, about potential pay-to-play scenarios. The House Financial Services Committee is discussing crypto regulations, with some Democrats planning to protest Trump's involvement. Murphy's bill aims to prevent public officials from exploiting cryptocurrency for personal profit, amid rising scrutiny of Trump's ties to the crypto industry.
