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Foreign Interests Appear to Be Pouring Millions Into Trump’s Meme Coin

On May 7, Bloomberg reported that millions of dollars from foreign investors have flowed into the $TRUMP meme coin, launched days before Donald Trump’s 2017 inauguration.
This influx followed the announcement of a May 22 dinner hosted by Trump at his Washington, D.C. Golf club, inviting about 200 of the largest $TRUMP token holders, many of whom likely reside outside the U.S.
Analysis shows over half of the top 220 wallets hold 76% of the token’s value through foreign exchanges unavailable to U.S. Residents, raising ethical concerns among lawmakers.
Senators Blumenthal and Murphy criticized the coin as pay-to-play corruption, noting 58 wallets gained $1.1 billion and introduced the MEME Act to ban officials from such tokens.
The controversy has slowed crypto legislation, as lawmakers urge addressing Trump’s crypto-related ethical issues and foreign influence before advancing new laws.

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Foreign Interests Appear to Be Pouring Millions Into Trump’s Meme Coin

The top buyers of Trump's crypto meme coin used exchanges that ban U.S. users, indicating they are likely foreign buyers, Bloomberg reports.

2 days ago·Los Angeles, United States

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Techmeme

Analysis: the majority of the top 220 holders of President Trump's memecoin likely reside outside the US, ahead of a May 22 dinner; Justin Sun likely holds $18M

Top news and commentary for technology's leaders, from all around the web.

21 hours ago·California, United States

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Thanh Niên

Controversy rages over President Donald Trump's memecoin dinner

Dinner with the President and White House Tour for TRUMP Memecoin Holders Are Facing Heavy Criticism for Conflicts of Interest.

23 hours ago·Viet Nam

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Upstract

Analysis: ~67,000 new or small-time crypto investors bought the $TRUMP memecoin but 80% of them bought near the coin's peak and saw their holdings nosedive

23 hours ago

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Handelszeitung

Criticism of Trump's Memecoin getting louder and louder

Donald Trump enriches himself and his environment with methods that are actually a no-go for elected politicians. Criticism is getting louder and louder.

1 day ago

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https://mo.bi

Mark Cuban: Trump's Memecoin Move Could Cause Concerns in Crypto Sector

Trump’s memecoin has seen huge fluctuations in value. Cuban said the practice could harm the crypto industry. Read more: Mark Cuban: Trump’s Memecoin Move Could Cause Concerns in the Crypto Industry

1 day ago

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