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Trump’s Crypto Corruption: A New Low in Pay-to-Play Politics

His latest “crypto ball” rewarded investors with access to the president in exchange for money in his own pockets.

Last month, President Trump hosted an exclusive private party at his Virginia golf club. But it wasn’t for voters, veterans, legislators, or even campaign donors – it was for 220 wealthy investors who bought into $TRUMP, a meme coin made in his name. The cost of admission? Millions of dollars.

It was the latest flagrant display of corruption we’ve seen from Trump’s venture into cryptocurrency. His family’s crypto schemes aren’t just sketchy side hustles – they’re part of a growing effort to put a price tag on access to the president.

What is a meme coin, and why are all of these rich people buying it? 

A meme coin is a type of cryptocurrency that’s usually created as a joke or a fan tribute. It’s kind of like digital trading cards – fun for some, but risky and not tied to any real value. 

But the people invited to Trump’s event weren’t just throwing a couple of dollars towards a $TRUMP coin as a joke. Only the top 220 investors were invited, and on average, each attendee had spent $1.8 million on Trump’s meme coin.

So why would someone throw millions at a joke of an internet coin?

Because Trump made it clear: buy in, and you’ll get access. His companies own most of the $TRUMP coin project, and while they can’t sell their stash right away, they’re already making money off of fees every time someone buys or sells the coin. That means the more people trade $TRUMP, the richer Trump gets. It’s a self-serving money machine.

Even though the White House tried to claim Trump went to this crypto ball “in a personal capacity,” the event’s website didn’t even try to hide the real goal. It promoted the event as a chance to hear from “the Crypto President” himself, a thinly veiled pitch to the ultra-rich: Buy Trump’s coin, get Trump’s ear.

And it worked. The largest investor, Justin Sun, spent $4.5 million on the coin after Trump announced the dinner. For the people at the top, $TRUMP isn’t just a meme coin – it’s a ticket to power.

Trump Slashes Cryptocurrency Regulations to Clear His Way

While Trump is using his influence to cash in, he’s also gutting protections for everyday people. He’s appointed crypto allies to lead watchdog agencies like the SEC, and his administration has vocally made a complete departure from Biden’s attempts to regulate this emerging financial sector, telling industry leaders that he would end the last administration’s “war on crypto.”

Without strong rules, the crypto world becomes a playground for scammers and billionaires. People who don’t have millions to throw around are more likely to lose their savings in risky coins or shady projects. When the market crashes – and it often does – it’s often everyday workers, not wealthy insiders, who are left with the damage. By removing guardrails, Trump is making it easier for his rich friends to cash out while the rest of us carry the risk.

Trump’s Crypto Money Grab is a Family Business

The Trump family’s businesses are diving head-first into crypto. 

His sons Eric and Donald Jr. announced last fall that they were starting World Liberty Financial, a cryptocurrency company. Then, an Abu Dhabi investment fund backed by the UAE government announced it would be making a $2 billion investment in the cryptocurrency trading company Binance using a digital currency developed by World Liberty Financial. The Trump family stands to profit hundreds of millions of dollars from this deal.

Cryptocurrency is now one of the most significant sources of the Trump family’s wealth, making it incredibly easy for foreign interests to influence the president and for other massive conflicts of interest to pop up.

Corruption in Broad Daylight

This is corruption, plain and simple. Trump is using the office of the presidency to sell access, enrich his family, and gamble with America’s financial system, all while pretending it’s just business.Let’s call this what it is: a scam against the American people. And if we don’t speak up now, it’ll only get worse.

The Road Ahead

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The Road Ahead

A message from Virginia Kase Solomón, President and CEO of Common Cause.