Senators Torch Trump’s Crypto Dinner: ‘Pay-to-Play’ Scandal Erupts

Washington’s crypto clash just went nuclear. Lawmakers are slamming former President Trump over a high-dollar dinner with industry execs—calling it a blatant cash grab disguised as policy talk.

Behind the outrage: A who’s-who of crypto billionaires reportedly cut six-figure checks for face time. ‘It’s not fundraising—it’s a fire sale on political access,’ snarled one Senate aide.

The kicker? Half the attendees now have pending regulatory cases. But hey, what’s a few million between friends when you’re betting against the dollar?

Fears Over Trump’s Crypto Dinner: Market Volatility & Security Risks Exposed

Senators Demand Ethics Investigation

Senators Elizabeth Warren and Adam Schiff are at this time seeking an urgent ethics probe into what they view as potential pay-to-play corruption. Their letter to the US Office of Government Ethics expressed some grave concerns about the dinner invitation that was extended to the top 220 holders of the $TRUMP token.

Senator Warren and Schiff stated:

Market Volatility and Security Risks

The announcement has triggered immediate market volatility, with the $TRUMP token jumping over 70% following the promotion. The token is currently trading at around $15.45, and it really exemplifies the security risks that are inherent in politically-connected cryptocurrencies. The regulatory uncertainty surrounding such tokens has worried many investors since the $TRUMP coin launched in January, and quickly reached a $15 billion market cap.

Growing Pay-to-Play Concerns

Senator Jon Ossoff has also joined the chorus of critics, and is calling for Trump’s impeachment over the pay-to-play corruption allegations. According to recent reports, the $TRUMP token has generated over $350 million in fees for entities connected to the president and his inner circle, with about 80% of the token supply held by the Trump Organization and affiliated entities.

The SEC highlighted the regulatory uncertainty facing the cryptocurrency industry when they issued guidance stating that meme tokens don’t qualify as securities, which effectively shielded the projects from immediate scrutiny.

With the dinner scheduled for May 22 at Trump National Golf Club, the pay-to-play corruption concerns continue to grow alongside market volatility and security risks that could potentially affect the broader cryptocurrency ecosystem.