Trump to host memecoin gala dinner amid backlash, impeachment calls
US President Donald Trump will host a gala dinner for major holders of his Official Trump (TRUMP) memecoin on May 22, despite bipartisan criticism and calls for impeachment. Senator Elizabeth Warren and others have raised concerns about the implications of Trump's initiative, suggesting it offers exclusive access to the presidency in exchange for investment. Senator Jon Ossoff has indicated that this could constitute an impeachable offense. Warren has also highlighted potential national security risks related to foreign involvement in Trump's finances, particularly a deal with the United Arab Emirates that significantly increased the memecoin's market value. Eric Trump discussed this deal at a recent event, emphasizing the need for financial innovation. Critics, including pro-crypto Senator Cynthia Lummis, have expressed unease about the ethical implications of Trump's actions regarding the memecoin and its potential impact on legislation.
