Pro-crypto senator pushes back on Trump’s memecoin dinner — Report

Senator Cynthia Lummis and at least one other Republican in Congress are reportedly critical of US President Donald Trump for offering the top holders of his memecoin a dinner and White House tour. According to a May 2 CNBC report, Lummis said the idea that the US president was offering exclusive access to himself and the White House for people willing to pay for it “gives [her] pause.” She wasn’t the only member of the Republican Party to be critical of Trump’s memecoin perks, announced on April 23, roughly three months after the then-president-elect launched the TRUMP token. “I don’t think it would be appropriate for me to charge people to come into the Capitol and take a tour,” said Republican Senator Lisa Murkowski, according to NBC News. Despite Lummis’ reported “pause” over the president’s actions, on May 2, she posted a video to X of herself speaking on the Senate floor, saying she was “particularly pleased” by Trump’s support of legislation to establish a strategic Bitcoin (BTC) reserve in the United States. The Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide, or BITCOIN, Act would seemingly codify Trump’s executive order to create a national crypto reserve. Related: House Democrats want ethics probe on Trump over crypto projects The launch of the TRUMP coin on Jan. 17 was met with outrage from many lawmakers and figures in the crypto industry, who pointed to potential conflicts of interest and implications of allowing foreign actors to channel funds directly to Trump. The criticism continued after Trump announced that a group of the top memecoin holders would have the opportunity to apply for a White House tour and dinner. “Trump once claimed he is so rich he cannot be bought,” said Craig Holman, a government ethics expert with the consumer advocacy organization Public Citizen. “But his obsession with money means he apparently can be bought for a meme.” Calls for impeachment over ties to crypto Georgia Senator Jon Ossoff, a Democrat, called for Trump’s impeachment during an April 25 town hall, claiming the memecoin dinner represented “selling access for what are effectively payments directly to him.” During his first term, Trump was impeached twice in the House of Representatives but acquitted after the Senate votes fell short of the two-thirds majority required for conviction. At the time of publication, it was unclear who, if any, of the memecoin holders would attend the May 22 dinner with Trump. Usernames from the TRUMP leaderboard have led to speculation that staunch supporters like Tron founder Justin Sun and Tesla CEO Elon Musk could be among the attendees. As of May 2, neither the individuals nor the companies have made any formal announcements. Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions Source: https://cointelegraph.com/news/senator-cynthia-lummis-critical-trump-memecoin-dinner?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound