Overview

• Rep. Jaime Raskin’s letter to President Trump demands the names of 220 attendees at the May 22 gala, where investors paid an average of over $1 million each for $TRUMP coins.
• Investors spent roughly $148 million in total and about half of purchases trace back to overseas exchanges that bar U.S. customers.
• The Trump Organization controls 80% of the token’s 1 billion-coin supply, raising questions about presidential profit motives.
• Democrats are probing whether funds came from terrorist groups, drug cartels or other illicit sources and have introduced bills to bar federal officials from profiting from cryptocurrencies.
• The White House says the event was a private engagement outside official duties and declines to release guest names or acknowledge conflict of interest concerns.