Top Democrat Launches Probe into Trump’s Memecoin Dinner, Demands Attendee List

In a move that has intensified the scrutiny surrounding President Donald Trump’s cryptocurrency ventures, House Oversight Committee Ranking Member Jamie Raskin (D-MD) has initiated an investigation into a private dinner hosted by Trump for top investors in his $TRUMP memecoin. The event, held at Trump National Golf Club in Sterling, Virginia, has raised significant ethical and legal concerns, prompting calls for transparency and accountability.

The Controversial Dinner

On May 22, 2025, President Trump hosted a gala dinner attended by approximately 220 investors who had acquired substantial holdings in the $TRUMP memecoin. The exclusive event featured luxury amenities, including high-end cuisine and personalized gifts, and offered attendees the opportunity to engage directly with the President. Notably, Chinese-born crypto billionaire Justin Sun, who has faced legal scrutiny in the United States, was among the guests, sparking bipartisan criticism.

Ethical and Legal Concerns

Representative Raskin has formally requested that President Trump disclose the full list of dinner attendees and the sources of funding for the event. The inquiry centers on potential violations of the Constitution’s Emoluments Clause, which prohibits federal officials from receiving gifts or payments from foreign governments without Congressional approval. The presence of foreign investors and the substantial financial gains associated with the $TRUMP memecoin have raised alarms about possible conflicts of interest and undue foreign influence.

Senator Elizabeth Warren (D-MA) has echoed these concerns, describing the dinner as an “orgy of corruption” and highlighting the risks of untraceable foreign investments in the President’s personal ventures. She, along with other lawmakers, has called for comprehensive investigations into the ethical implications of Trump’s cryptocurrency activities.

Calls for Legislative Action

In response to the growing controversy, Senators Jeff Merkley (D-OR) and Chuck Schumer (D-NY) have introduced legislation aimed at prohibiting senior executive branch officials and their families from profiting from cryptocurrency ventures. The proposed bill seeks to establish clear ethical guidelines and prevent potential abuses of power related to digital assets.

Additionally, watchdog groups such as Public Citizen have urged the Department of Justice to investigate whether Trump’s promotion of the $TRUMP memecoin constitutes unlawful solicitation of gifts, arguing that the digital tokens offer no tangible product or investment opportunity in return for the payments received.

Implications for the Crypto Industry

The controversy surrounding President Trump’s involvement in the cryptocurrency sector has broader implications for the industry. While the administration has taken steps to create a more favorable regulatory environment for digital assets, the intertwining of personal financial interests with public policy has raised concerns about the integrity of the regulatory process. Critics argue that such entanglements could undermine efforts to establish clear and fair rules for the burgeoning crypto market.

Conclusion

The investigation into President Trump’s memecoin dinner underscores the complex challenges at the intersection of politics, ethics, and emerging financial technologies. As lawmakers and regulators grapple with these issues, the outcome of this probe could set important precedents for how public officials engage with the rapidly evolving world of cryptocurrency.