On May 22, US President Donald Trump is to host up to 220 people who bought the most significant amounts of his Memecoin at a private event in Washington.
Although the exact number of participants was unknown from May 19, the blockchain reports and data have revealed Some of the tokenists who qualified to apply for dinner of May 22 and “VIP trip” and a party, considered to be in the White House. Bloomberg announced on May 7 that more than half of 220 wallets were probably controlled by foreigners.
Among the candidates for dinner, Memecoin, who are probably still facing the control of the past before the confirmed appearance in front of the president, was founded by the founder of Synthetix, Kain Warwick, a consultant named Vincent Deriu and the user Crypto Morten Christensen, who apparently only Paid Parking USD 1200 for an opportunity.
Others included the World Liberty Financial advisor by the nickname “Ogle” and a representative of the startup from Singapore Memecore. Cointelegraph also learned that Vincent Liu, investment director of Taiwan Kronos Research, plans to participate.
Memecoin Trump, even before the announced dinner and reception, was criticized by many members of the congress.
Some legislators said that the president opens the White House to potential bribes and conflicts of interests, allowing people, perhaps related to foreigners, put money directly in pockets without transparency.
Disturbing Stablecoin, bills for the market structure
Controversy was given by the proposed provisions related to digital assets, including a bill in the Senate aimed at establishing regulatory framework for Stablecouins and a draft law on market structure in the Chamber of Representatives. Some democrats said that they would not support any regulations until “Trump’s cryptographic corruption” is resolved.
“Democrats are wondering that this is only an official way of conducting corruption,” said Rebecca Liao, co-founder and general director of Saga Layer-1 Blockchain, in a statement made available by Cointelegraph. “What began as a two -sided account with potential universal support transformed into a replacement war between the Democrats and the Trump administration.”
Related: Trump’s cryptocurrency “Add a certain level of challenge” to transfer bills – Coinbase Exec
Some organizations planned protests during Memecoin dinner on May 22. Democratic party arm in Arlington, Virginia, announced Its members would gather to oppose people in the White House “earning in their public office”. Cointelegraph contacted the organization for a comment, but did not receive an answer at the time of publication.
Buying influence, do you just speculate on the emerging market?
Apparently 220 tokens used Combined $ 148 million to be able to participate in an event that finalized its leaders’ board on May 12. However, each with a portfolio can still buy Trump tokens and potentially influence the president’s policy after dinner.
“Decision to acquire [TRUMP] The token was not political, “said Vincent Liu of Kronos Research, who plans to take part in the memecoin dinner, said Cointelegraph.” He was based on the identification of early momentum, cultural significance and potential market catalysts. “
In April, Freight Technologies said that he would invest $ 20 million in Trump token, which suggests that this may affect the presidential policy between the USA and Mexico, where the company conducts part of its activity. GD Culture Group announced in May that Memecoin would be included in their plans for a $ 300 million cryptographic reserve.
“The problem is the conflict of interests between the cryptographic investments of the Trump family and the trading of administration towards cryptocurrency policies,” said Liao. “Trump’s family invested in the crypto very openly and began their own cryptographic ventures. This created a problem of perception in which changes in policy conducive to cryptocurrencies can be seen as self -sufficiency rather than in the national interest.”
https://www.youtube.com/watch?v=VKC5QCRVDC0
If the Stablecoin Act, the genius Act, is the first test for republicans and democrats to respond to potential conflicts of Trump’s interest in the cryptocurrency industry, there is already a clear contrast between the two parts.
House speaker Mike Johnson mainly brushed No fear of the connections of the president and his family with the industry, saying that “he was not an expert in this.” Apparently, the deputy press secretary of the White House Anna Kelly he said There were no “interest conflicts” because Trump’s children managed his assets through trust.
The legislators are expected to speak on the Genius Act within a few days, perhaps before having dinner and accepting Memecoin. At the time of publication, it was unclear whether the Republicans intended to solve some of the fears of the Democrats around Trump and Cryptowarts, or move forward with voting without significant changes in the act.
Warehouse: Trump’s crypto projects are raised by a conflict of interest, questions about trade in confidential information
