Overview

• Democratic senators introduced the End Crypto Corruption Act and MEME Act to prohibit presidents, lawmakers, and their families from profiting from crypto assets.
• Reports reveal that 76% of $TRUMP token value is likely held by foreign investors, raising national security and conflict of interest concerns.
• President Trump’s $TRUMP coin has generated over $320 million in transaction fees, with his crypto holdings estimated to represent nearly 40% of his net worth.
• Senator Blumenthal’s committee launched an inquiry into potential legal violations and conflicts of interest tied to Trump’s cryptocurrency ventures.
• Schumer and Warren warn that a potential deal involving a Trump-backed firm and a foreign crypto company could pose significant ethical and security risks.