Senator Mark Kelly criticized President Trump’s promotion of the $TRUMP memecoin, calling it blatant corruption, and introduced a bill to prevent such conflicts of interest. Roger Stone, a Trump loyalist, responded by accusing Kelly of treason and calling for his execution, citing Kelly’s past association with a company that had Chinese investment. Trump’s memecoin has generated over $320 million for his family, fueled by a buying frenzy linked to an exclusive investor dinner. Concerns are rising about the ethical implications of Trump’s business dealings, including international ventures, while in office.
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The launch of the $TRUMP memecoin resulted in significant profits for early investors, some allegedly based in China, who capitalized on its rapid price increase. Simultaneously, over 810,000 wallets incurred approximately $2 billion in losses following the coin’s subsequent crash. The Trump family and associates profited from substantial trading fees, totaling nearly $100 million, despite Trump’s claims of limited knowledge about the coin. This situation has prompted investigations into potential violations of ethics regulations and the Emolument Clause.
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John Q. Hosedrinker