US President Donald Trump has come under fire for announcing two separate crypto-themed dinners in May.
Despite criticism over his and his family's connections to cryptocurrencies, Trump revealed plans to host a dinner for TRUMP memecoin holders and another event called the "Crypto and AI Innovators Dinner." However, Democratic Senators Elizabeth Warren and Adam Schiff raised concerns, calling Trump's crypto dealings "suspicious" and warning of potential bribery and corruption risks.
Trump aims to raise funds for MAGA Inc. through these dinners, but the high participation fees have drawn attention. For example, the fee for attending the event is set at $1.5 million per plate. Meanwhile, the gala for TRUMP memecoin saw a 50% increase in its token price. However, ethical and conflict-of-interest claims surrounding Trump's crypto ventures have been questioned by many experts.
In response to the criticism, Trump reiterated his support for crypto and stressed the importance of the US not allowing China to take the lead in this field.
