Some famous Democratic senators held a surprise press conference about President Trump, his crypto transactions, and the upcoming meme coin dinner. They called for the immediate release of the full guest list and accused the US President of selling American policy favors to foreign countries.
This press conference demonstrated the growing opposition to the political influence of the crypto industry. However, as the passage of the GENIUS Act shows, many Democratic members are currently satisfied with the pro-crypto agenda.
Democrats Call Trump's Meme Coin Dinner the 'Everest of Corruption'
The meme coin named after President Trump has created many controversies, especially with the Gala Dinner contest for the largest holders.
The dinner is expected to take place tonight, but the guest list has not yet been released, and some Democratic Senators and Representatives have publicly demanded that President Trump provide answers.
"Most attendees tonight will be foreigners. These could be individuals associated with terrorist groups, Vladimir Putin, sanctioned persons, Gulf princes, and oligarchs. They may pay to have the opportunity to meet the US President to request beneficial national security concessions. This is a celebration of corruption. At least tell us who they are. Disclose the names," Senator Chris Murphy stated.
Murphy, along with several crypto-skeptical Democrats, spoke out about Trump's potential crypto corruption. This includes Senators Elizabeth Warren, Jeff Merkley, and Richard Blumenthal, along with Representative Sam Riccardo and other private citizens.
Murphy also mentioned that Secretary Marco Rubio will not attend the dinner. In fact, the Secretary was not even aware of this event.
Since most attendees will be foreigners and remain anonymous, this could raise concerns about US national security.
They also criticized several recurring points: the dismantling of regulatory agencies, Trump's family business relationships, and the possibility of public political corruption.
'The White House is Being Sold' – Democrats Accuse Crypto of Influencing National Policy
Warren mentioned some of these issues, noting that TRON founder Justin Sun won the TRUMP contest shortly after the SEC dropped a lawsuit against his company.
"Howard Lutnick, Paul Atkins, and David Sacks—each with extensive personal and financial relationships in the crypto industry, and each currently holding an important government position to promote crypto assets and Donald Trump's personal assets. Tonight is the pinnacle. Tonight is a corruption party – a private intimate dinner for his largest meme coin buyers. American citizens don't know who is buying access to the US President," Senator Warren stated.
Although these elected officials strongly oppose Trump's crypto corruption, the entire Democratic Party does not agree. Despite strong skepticism, 16 Democratic senators broke ranks to pass the GENIUS Act this week.
Senators like Kristen Gillibrand have received large sums from crypto lobbyists, and the remaining political influence of this industry is uncertain.
Finally, these Democratic crypto skeptics had a clear demand: more transparency about Trump's business relationships.
Jeff Merkley noted that these 220 TRUMP holders are interested in more than a dinner or airdropped Non-Fungible Token. Many of them want political influence, and Congress has mechanisms to reveal their progress in obtaining it.
"What I ask the US Senate to do is have a vote – as the emoluments clause says, if [Trump] receives payments and benefits, all he has to do is come to the Senate and disclose them. [Meme coin, WLFI, and other projects] are just the beginning of a list of corrupt entities benefiting him, which violates a specific clause of the Constitution," Senator Richard Blumenthal stated.
Whether these Democratic Congress members will succeed in restraining Trump's actions is hard to say. Currently, it is clear that legislative hostility towards the crypto industry is becoming increasingly apparent.
