coinpedia 2025-05-22 07:34:32

‘America Is Not for Sale’: New Bill Targets Trump’s Crypto Cash-Grab

The post ‘America Is Not for Sale’: New Bill Targets Trump’s Crypto Cash-Grab appeared first on Coinpedia Fintech News President Donald Trump is facing growing criticism for hosting a high-profile dinner for the top TRUMP memecoin investors. More than 200 guests reportedly spent millions of dollars just to meet him in person. Big names in crypto like Justin Sun, founder of Tron, were among the attendees. Critics argue this isn’t just about buying coins—it’s about buying private access to Trump. For the unversed, the event attendees have reportedly spent over $100 million for a chance to meet the US President. Lawmakers and Protesters Push Back Democrats and protest groups are speaking out, accusing Trump of using his influence to profit from crypto deals tied to him and his family. While a bill has not yet been introduced, Congresswoman Maxine Waters and others are planning to push legislation that would ban presidents, lawmakers, and their families from making money off cryptocurrency. On May 22, several protests and press events are planned around the Capitol and near Trump’s golf club. Groups like Public Citizen, along with Senators Elizabeth Warren, Chris Murphy, and Jeff Merkley, are set to lead rallies under the slogan “America Is Not for Sale.” Critics are also worried that some of the biggest memecoin buyers could be foreign investors, raising questions about who really gets access to power. The controversy over Trump’s crypto connections has even slowed progress on important U.S. stablecoin legislation, though the bill has recently moved forward in the Senate. No Conflict of Interest, Says Bo Hines However, Trump’s team has denied any corruption. Besides, White House official Bo Hines also told at the Consensus 2025 that the Trump family’s crypto ventures aren’t conflicts of interest and they have the right to take part in the markets.