Date: May 22, 2025
Location: Washington, D.C.
“Donald Trump’s dinner is an orgy of corruption. That’s what this is all about.”
— U.S. Senator Elizabeth Warren (D-MA)
We are here today to talk about one topic: corruption—corruption in its ugliest form.
Donald Trump is using the presidency of the United States to make himself richer through crypto. And he’s doing it in plain sight. He is signaling to anyone who wants a special favor and is willing to pay for it exactly how to do that.
Let us count the ways:
- Just before his inauguration, Donald Trump launched a crypto meme coin.
- Since then, he’s signed executive orders that boosted the coin’s value.
- In three months, he has already made hundreds of millions from that launch.
- He appointed a cast of industry insiders—Howard Lutnick, Paul Atkins, and David Sacks—all with personal and financial ties to the crypto industry, all now in government positions that can further enrich him.
- Trump disbanded the DOJ’s crypto enforcement unit just as Binance, a foreign crypto exchange that pleaded guilty to money laundering, began exploring deals with Trump’s crypto venture.
- The SEC quietly backed off investigations into the same crypto firms that poured millions into Trump’s inauguration.
But tonight is the topper.
Tonight, Donald Trump will host a private dinner and White House tour for the top buyers of his meme coin—many of whom remain anonymous. The American people have no idea who is buying access to the president, nor what they’re getting in return.
And it continues.
Last month, Trump and his family launched a second venture—this time a stable coin called “USD1.” Already, it is awash in corruption. An Abu Dhabi investment firm with ties to the UAE and China has invested $2 billion in USD1, making millions more for the Trump family.
Meanwhile, Justin Sun, a major investor in both Trump crypto ventures and the top buyer of Trump’s meme coin, just learned that the SEC has paused its fraud enforcement actions against him.
This is not governing. This is selling access to power.
Americans sent us to Congress to unrig the economy for them—not to let the president turn the White House into a crypto cash machine.
That’s why the GENIUS Act must be amended to prohibit any president or their family from profiting—directly or indirectly—from stable coin ventures. Without that safeguard, we are not regulating stable coins. We are turbocharging corruption.
We need to put a stop to this.
