The $TRUMP meme coin, launched by President Donald Trump in January 2025, has recently been at the center of significant controversy and scrutiny. Initially peaking at $75.35, the coin's value plummeted to around $14 by May. A promotional campaign offering the top 220 holders an invitation to a dinner with President Trump on May 22 temporarily boosted its value, with some investors spending up to $16.4 million to secure a spot.

However, this initiative has raised ethical concerns. Critics argue that tying access to the President to cryptocurrency investments may violate federal ethics laws and the Constitution’s emoluments clause, especially since many top holders are foreign nationals. Additionally, GD Culture Group, a Chinese-linked firm with no reported revenue, pledged up to $300 million to invest in Bitcoin and the $TRUMP coin, further intensifying concerns about foreign influence.

The Trump family has also expanded its involvement in the crypto sector through ventures like World Liberty Financial (WLF), which recently struck a deal with Pakistan. Moreover, there are reports of efforts to intertwine presidential duties with personal business interests, including a push for a pardon for Binance founder Changpeng Zhao, coinciding with financial ties between Binance and Trump's family ventures.

These developments have sparked bipartisan concerns and calls for investigations into potential conflicts of interest and the blending of presidential influence with personal business ventures.