Labeling it proof of creeping corruption, Sen. Elizabeth Warren blasted Donald Trump’s crypto-fueled Trump gala on Thursday, arguing the $TRUMP dinner lets anonymous whales purchase presidential access. Lawmakers are now weighing tighter stablecoin rules in response.
Elizabeth Warren Criticizes Trump
In a May 22 press conference, Warren chided the $TRUMP dinner as an extension of Trump, “turning the White House into a crypto cash machine.”
“This is an orgy of corruption,” the senator from Massachusetts said. “The American people have no idea who is buying access to the president, and no idea what they are getting in return.”
Warren further criticized the advancement of the GENIUS Act within the Senate, stating the legislation should have provisions that prohibit the president and his family “from directly or indirectly profiting from any stablecoin venture, period.”
“Without this fix, we’re not regulating stablecoins, we are turbocharging the same corruption that we are witnessing tonight as Donald Trump opens the White House doors and sells favors to his wealthy crypto allies,” she added. “We need to put a stop to this.”
$TRUMP Meme Coin Gala Ushers In High-Profile Guests
News of Warren’s commentary coincides with Trump’s meme coin gala dinner hosted at Trump National Golf Club just outside of Washington, D.C., on Thursday for the top 220 investors of $TRUMP.
The top 25 investors were also eligible to attend an “exclusive reception” alongside Trump ahead of the dinner, which included a “special VIP tour” for attendees.
Critics claimed that the event may prove unethical, as foreign influences may have been able to buy Trump’s favor by purchasing sweeping amounts of the coin.
However, Crypto in America journalist Eleanor Terrett indicated that some attendees found the event lacked “meaningful interaction with the president.”
Prominent diners at the gala included Tron founder Justin Sun and former NBA player Lamar Odom, though they were greeted by nearly 100 demonstrators protesting the affair.
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