Democratic Party, Urges Disclosure Of Trump Meme Coin Dinner List… Raises Suspicion Of Foreign Fund Inflow

The U.S. Democratic Party is moving to check the cryptocurrency business of President Trump's family (Source: WSJ)

The U.S. Democratic Party has raised the possibility of foreign funds being introduced into a meme coin event linked to President Trump and is requesting the disclosure of the guest list for the related dinner. According to The Guardian, Democratic lawmakers, including Congressman Jamie Raskin, have asked the TRUMP Meme Coin team for the list of attendees at the banquet held at a Virginia Golf Club in late May.

Congressman Raskin pointed out, “The public has the right to know who is putting tens of millions of dollars into the president’s pockets,” indicating that the event implied a possibility of foreign governments using cryptocurrency to bypass finances to President Trump.

He particularly added to the suspicion by mentioning the example of Justin Sun, the founder of TRON (TRX). Justin Sun purchased about $20 million worth of TRUMP, becoming the largest holder of the cryptocurrency, and invested $75 million in DeFi project World Liberty Financial (WLFI) led by the Trump family. Sun was indicted for fraud by the U.S. Securities and Exchange Commission (SEC) in 2023, but the case is on hold as the SEC requested the suspension of the lawsuit in February this year.

The Democratic Party argues that these circumstances could violate the Emoluments Clause of the U.S. Constitution, which prohibits federal officials from receiving monetary benefits from foreign governments. This demand suggests that political and legal controversies surrounding meme coins and cryptocurrencies may be intensifying.