- Donald Trump spoke at a private event for investors in his $TRUMP memecoin, using the official presidential seal at his Virginia golf club.
- Federal law restricts use of the presidential seal in ways that suggest government endorsement; violations can carry fines or jail time.
- A group of 35 lawmakers has formally asked the Department of Justice to investigate possible violations of bribery and emoluments laws at the event.
- Most attendees reportedly had ties to foreign crypto exchanges, raising concerns about foreign influence in U.S. politics.
- Trump’s position on cryptocurrency has shifted, with prominent figures like Justin Sun and Lamar Odom attending the dinner for holders of the $TRUMP token.
Donald Trump addressed around 220 investors at a private dinner held at Trump National Golf Club in Virginia. The event promoted the $TRUMP memecoin project, with Trump speaking from behind a lectern featuring the official presidential seal.
According to U.S. law, the presidential seal may not be used in any way that could suggest government approval or sponsorship. Violations can result in fines or up to six months in prison. During the event, Trump praised his guests and criticized the Biden administration’s approach to cryptocurrency.
A group of 35 House members sent a letter to the Department of Justice, requesting an investigation into whether the event might have broken federal bribery statutes or the foreign emoluments clause. This clause prohibits U.S. presidents from accepting gifts from foreign states without approval from Congress.
The dinner reportedly included many foreign nationals, some with links to major crypto exchanges, as noted by Bloomberg. The letter from lawmakers warned that promoting a dinner with exclusive presidential access could allow foreign governments to influence the president without disclosing their identities. “US law prohibits foreign persons from contributing to US political campaigns,” the letter stated.
White House Press Secretary Karoline Leavitt described the event as a personal engagement, emphasizing, “It is not a White House dinner. It’s not taking place here at the White House.”
Trump has featured the presidential seal at private venues before, according to a Forbes report. The $TRUMP memecoin reached a high of $74.34, falling to $14.44 by May 22.
Notable guests included Tron founder Justin Sun, former NBA player Lamar Odom, and Asian crypto executives Sangrok Oh and Vincent Liu. Sun spoke at the dinner and reportedly invested over $40 million in $TRUMP tokens. He is also the main supporter of World Liberty Financial, a Trump-affiliated firm now under regulatory review.
Concerns about the event have prompted at least one lawmaker to introduce new anti-corruption legislation ahead of the private dinner.
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