HawkInsight

  • Contact Us
  • App
  • English

Analysis: Trump's two cryptocurrency-themed dinners in May raised concerns about potential conflicts of interest "

Internet reports that U.S. President Donald Trump is fighting back against criticism of his own and his family's association with cryptocurrencies. On May 4, Trump posted on Platform X that he planned to hold a dinner in Washington at the end of this month for major supporters of "Trump's official memecoin". Earlier, Democratic Senator Elizabeth Warren of Massachusetts criticized the Trump family for what he called "improper" cryptocurrency transactions, including the United Arab Emirates's investment in Trump-related stablecoins USD1. In late April, Warren and several other lawmakers, including Democratic Senator Adam Schiff of California, called on federal officials to pay attention to the possible bribery and corruption risks posed by Trump's memecoin. The Financial Services Committee and the Agriculture Committee announced last week that they would hold joint hearings on market structure issues, and on Monday released the text of the first related bill, including how the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) will regulate cryptocurrencies. However, two cryptocurrency-themed dinners Trump plans to host in May have sparked new controversy. One of the events, called the "Cryptography and Artificial Intelligence Innovators 'Dinner," was hosted by the pro-Trump super political action committee MAGA Inc., with an entrance fee of up to $1.5 million. Another dinner will be for the top 220 investors in Trump's memecoin, and admission will be obtained through auction. Critics point out that Trump's use of these activities to confuse personal interests with public policy may violate the Constitution's "remuneration clause", which prohibits the president from accepting gifts or financial compensation from domestic and foreign governments or their agents. In addition, the Trump family has profited from its cryptocurrency project, and the Trump administration's relatively loose regulatory attitude towards cryptocurrencies has further exacerbated concerns about conflicts of interest.

Disclaimer: The views in this article are from the original Creator and do not represent the views or position of Hawk Insight. The content of the article is for reference, communication and learning only, and does not constitute investment advice. If it involves copyright issues, please contact us for deletion.

NewFlashHawk Insight
More