Rep. Jamie Raskin (D-MD) has initiated an inquiry into President Trump’s recent memecoin dinner, requesting that the White House reveal the names of those in attendance. He cautioned that foreign governments might be attempting to influence the president through cryptocurrency investments.
“I am requesting today that you disclose the names of all attendees at this dinner and provide details about the source of funds each participant utilized to acquire $Trump Coin. Second half of Wednesday for Trump.
Raskin, known for his frequent critiques of the president’s foreign policies, pointed out that the names of attendees were not made public. On May 22nd, Trump’s golf clubs communicated that “anyone contributing tens of millions to a president’s finances may start to perceive that he is offering more than just the virtually worthless memecoin.”
The White House has not yet responded to The Hill’s request for comments.
This letter follows Vice President Vance’s remarks to the crypto industry during the Bitcoin Conference in Las Vegas this week, urging participants to enhance their political engagement. Notable figures in the sector invested over $200 million in candidates during the 2024 election cycle.
“Leverage the momentum of your political activity in 2024 and carry it forward into 2026. Do not overlook politics. You must stay involved in this community, now and into the future,” Vance advised the audience on Wednesday.
Fairshake, Procrypt Super PAC, and its two affiliates announced in late January that they are preparing their war chests for the mid-2026 elections, boasting $116 million in cash reserves.
The dinner held last week was restricted to 220 guests, and reportedly generated a $148 million revenue from Crypto Firm Inca Digital.
Raskin noted that the president has long participated in private dinners to bolster the financial resources of his political committee, but the recent event may benefit Trump’s family businesses. Attendees were not required to provide the same disclosures as those contributing to political committees.
“With regard to Memecoin, profiting from it highlights a perplexing scheme where you and your family benefit from what you term ‘The Swamp’ since taking office,” said the Maryland Democrat.
The White House has previously asserted that private events do not represent a conflict of interest and that Trump’s assets are managed by his sons in a blind trust. White House press secretary Karoline Leavitt told reporters that Trump was attending this gathering during “his personal time,” specifying it was “not a White House dinner.”
Raskin further pointed out in his letter that Justin Sun, a Chinese-born tech mogul, invested $75 million in the Trump family venture World Liberty Financial after Trump’s victory in the 2024 presidential election. In February, the Securities and Exchange Commission requested a two-month suspension of lawsuits against Sun, who has faced market manipulation charges since 2023.
Sun confirmed that he was the largest holder of the meme token present at the dinner.
“Foreign entities, which are prohibited from donating to presidential campaigns under federal law, are effectively purchasing access by investing millions in your personal memecoin,” Raskin emphasized.
“Moreover, given the uncertain nature of cryptocurrency transactions, there is minimal assurance that the funds used to acquire Memecoin do not originate from foreign governments or illicit sources related to terrorism, drug trafficking, money laundering, or other illegal activities,” the Democrat added.
Source: thehill.com