Rolling Stone reports about djt's corrupt crypto bribery scheme:
Foreign Interests Appear to Be Pouring Millions Into Trump’s Meme Coin
President Donald Trump’s meme coin is already a thing that shouldn’t exist, much less as a vehicle for foreign entities to funnel money to the sitting president, yet here we are.The lack of transparency, easy access for foreign influence, and ethical vacuum surrounding this constitutes a bribery scheme. Foreign power and entities can buy influence by secret financial contributions. Although a large portion of the top holders are reportedly foreign, Americans and American businesses can also bribe him.
According to a Wednesday report from Bloomberg, over half of the top holders of $TRUMP — a personal cryptocurrency token established days before his inauguration — are likely foreign buyers, who have dumped millions into the project.
And likely not without motive. Last month, the token announced that Trump would be hosting an exclusive May 22 dinner for about 200 of $TRUMP’s largest investors at his Washington, D.C., golf club, leading to a flurry of purchases. According to Bloomberg, “76 percent of the token value held among the top 220 wallets likely belongs to foreign owners because the wallets used exchanges that are not available to U.S. residents.” According to a separate analysis by The Washington Post, roughly $100 million worth of tokens were purchased after the dinner was announced.
Congressional Democrats have proposed legislation to ban elected officials and their families from profiting off meme coins or similar ventures, but chances of that passing in congress is low, maybe ~1%. Chances of djt ever signing an anti-crypto corruption law are lower.