Summary
- Three U.S. senators launched an investigation into a lunch event for Official Trump (TRUMP) holders by demanding related documents from the organizers.
- The lawmakers said President Trump was involved in planning and promoting the event, encouraging purchases of the TRUMP token, and that cryptocurrency was used for the president’s family’s private gain.
- They also said that although the event’s terms included a clause stating Trump might not attend, promoting coin purchases with the prospect of meeting the president could amount to deceiving investors.
Forecast Trend Report by Period
A lunch event for holders of Official Trump (TRUMP), the meme coin bearing President Donald Trump’s name, is facing scrutiny from U.S. senators.
Politico reported on May 9 that three senators — Elizabeth Warren, Adam Schiff and Richard Blumenthal — sent a letter to the organizers demanding records related to the event, which is scheduled for May 25 at Mar-a-Lago.
The senators said they want to examine Trump’s role in planning and promoting the event and any potential profit structure tied to it. Attendance is limited to investors ranked among the top 297 by TRUMP token holdings. The lawmakers argued that the organizers used access to the president as a selling point to spur purchases of the meme coin, effectively using cryptocurrency for the Trump family’s private gain.
They also raised questions about whether the event can proceed as advertised. Trump is scheduled to attend the White House Correspondents’ Association dinner in Washington on May 25, which would make it difficult for him to appear at both events. The senators said the event’s terms include a clause stating that Trump may not be able to attend, yet the organizers still promoted coin purchases with the prospect of meeting the president, which they view as misleading investors.
Doohyun Hwang
cow5361@bloomingbit.ioKEEP CALM AND HODL🍀
