Two Democratic senators, Adam Schiff and Elizabeth Warren, are urging an ethics investigation into President Trump’s promotion of his $TRUMP meme coin. The promotion, which includes a private dinner for top investors, has raised concerns about “pay to play” corruption.
The senators claim that offering exclusive access to the presidency in exchange for investment violates federal ethics rules. They point out that some $TRUMP investors have ties to foreign exchanges and received funds from crypto platforms banned in the US.
Senator Warren stated that the promotion may constitute “pay to play” corruption, where individuals or entities pay for access to the president while personally enriching themselves. She is seeking guidance on whether Trump’s family has been informed about profiting from digital assets while in office and what safeguards exist to prevent such investments.
The Office of Government Ethics declined to comment, but the letter from Schiff and Warren suggests that an investigation is likely needed to address concerns about corruption and potential conflicts of interest.
Source: https://www.cnbc.com/2025/04/25/trump-dinner-for-meme-coin-prompts-senators-to-demand-ethics-probe.html