On May 22, US president Donald Trump is expected to hold up to 220 people who bought the most important volume of his memecoin at a private event in Washington, DC.
Although the exact number of attendees were unknown on May 19, Blockchain reports and data revealed Some of the tokenholders who qualify to apply for the May 22 dinner and “VIP tour” and reception, assumed to be in the White House. Bloomberg reported on May 7 that more than half of 220 dompets are likely to be controlled by foreign nationalities.
Among the applicants of the Memecoin Dinner, who are likely to face background tests leading to obtaining a confirmed look before the President, with Synthetix founder Ato Warwick, a consultant named Vincent Deriu, and Crypto uses Morten Christensen, who has just reported only reported Payment $ 1,200 for the opportunity.
Others include a financial liberty financial counselor going through the pseudonym “Ogle,” and a representative from Singapore -based Memecore. Cointelegraph also learned that Vincent Liu, chief investment officer of Taiwan -based Kronos Research, is planning to attend.
Trump’s memecoin, even before the announcement and reception, was criticized by many members of Congress.
Some lawmakers say the President is opening the White House to potential bribes and conflicts of interest by allowing people, perhaps tied to foreign governments, to put money directly into his pocket without transparency.
Interfering with stablecoin, market structure bills
The controversy was formed in the proposed law connected with digital assets, including a Senate bill aimed at establishing a regulation framework for stablecoins and a draft structure of the market structure in the House of Representative. Some Democrats say they are will not support any law Up to “Trump’s crypto is” corruption “.
“Democrats think this is just an official way of doing corruption,” said Rebecca Liao, co-founder and CEO of Layer-1 Blockchain Saga, in a statement shared with Cointelegraph. “The beginning as a Bipartisan bill with potentially widespread support has now changed in a proxy war between Democrats and Trump management.”
Related: Trump’s crypto ties adds a certain level of challenge ‘to the passage of bills – Coinbase Exec
Some organizations plan protests during the Memecoin dinner on May 22. The arm of the democratic party in Arlington, Virginia, announced Its members will gather to oppose those in the White House “cashing in their public office.” Cointelegraph reached the organization for comment but did not receive a response at the time of publication.
Buying an influence, or just thinking of an emerging market?
Top 220 tokenholders have been reported spent a combined $ 148 million to have the opportunity to attend the event, which Its leaderboard ended On May 12. However, anyone with the purse can still buy Trump’s tokens and potentially influence the president’s policies after the dinner is completed.
“The decision to get the (Trump) token is not political,” Vincent Liu of Kronos Research, who plans to attend Mesecoin’s dinner, told Cointelegraph. “It is based on the recognition of early momentum, cultural relationship, and potential catalysts in the market.”
In April, Freight Technologies said it invests $ 20 million in Trump’s token, suggesting that it may affect the president’s trade policies between the US and Mexico, where the company is conducting some of its business. The GD Culture Group announced in May that Memecoin would be its plans included for a $ 300-million crypto reserve.
“The issue is the conflict of interest between family crypto investments and the administration’s pivot towards Crypto policies,” Liao said. “The Trump family is openly invested in the crypto and started their own adventures in the crypto. It created a problem with the perception of which policies change in favor of cryptocurrency can be viewed as self-enrichment rather than in national interest.”
https://www.youtube.com/watch?v=vkc5qcrvdc0
If the bill of Stablecoin, the Genius Act, is the first test for how Republicans and Democrats will respond to Trump’s potential conflicts of interest in the crypto industry, there is a huge contrast between the two parties.
Usually house speaker Mike Johnson brushed Concerns about the president and his family’s connection to the industry, saying he is “not an expert in that.” White House Secretary Anna Kelly’s deputy has already reported Says There is no “conflicts of interest” because Trump’s children manage his possessions with a trust.
It is expected that lawmakers will get a vote on the Genius Act within a few days, perhaps before the memecoin dinner and reception held. At the time of publication, it is unclear whether the Republicans have intended to meet some of the Democrats’ concerns around Trump and Crypto, or to advance with a vote with no significant change in the bill.
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