Some Senate Republicans have expressed concerns regarding an exclusive dinner and White House tour offered by former President Donald Trump to top investors in his $TRUMP meme token. Senator Cynthia Lummis of Wyoming, a key figure in cryptocurrency regulation efforts, stated that while she supports the president, this event raises ethical questions. The event, announced on the official website for Trump’s meme coin, invites the top 220 coin holders to a private dinner at Trump’s golf club near Washington, D.C., with the top 25 investors also receiving a VIP White House tour. Following the announcement, the $TRUMP meme coin’s value surged by over 50%, reaching a market value of $2.7 billion. Lawmakers from both parties have scrutinized the offer, questioning the ethics of granting presidential access in exchange for investment in an organization tied to Trump’s personal fortune. While no laws prohibit such actions, some senators, including Lisa Murkowski of Alaska, have expressed unease. Lummis emphasized the need for legislation to regulate digital assets like meme coins, advocating for a clearer regulatory framework. The GENIUS Act, which aims to establish rules for stablecoins, is currently under consideration in the Senate. Critics, including Senate Democrats Elizabeth Warren and Adam Schiff, have called for an ethics investigation into the event, citing potential corruption risks. — new from NBC News
