A top House Democrat has launched an inquiry into Trumpâs lucrative meme coin venture, questioning whether foreign money flowed into the presidentâs pockets.
U.S. President Donald Trump is once again at the center of controversy as a top House Democrat demands answers about a private dinner he hosted for major investors in his Official Trump (TRUMP) memecoin, raising fresh questions about ethics and potential foreign influence.
Rep. Jamie Raskin, the ranking Democrat on the House Judiciary Committee, sent a letter Wednesday night pressing Trump to reveal who attended last weekâs exclusive event, The Washington Post has learned. Raskin reportedly also wants details on how the funds were vetted, citing fears that foreign governments or illicit actors could be behind some purchases.
âPublication of this list will also let the American people know who is putting tens of millions of dollars into our Presidentâs pocket so we can start to figure out what â beyond virtually worthless memecoins â they are getting in exchange for all this money.â
Jamie Raskin
The dinner, held at Trumpâs Virginia golf club, rewarded the memecoinâs top 220 holders, a perk that ethics experts say blurs the line between his business and political roles. Unlike campaign fundraisers, the profits went straight to Trump-linked companies, not political groups, blockchain forensic firms reported earlier.
One notable attendee was Justin Sun, founder of blockchain ecosystem TRON, who bragged on X about being the memecoinâs biggest buyer. Sun has a history of legal trouble as the U.S. Securities and Exchange Commission accused him of market manipulation in 2023, though the case stalled after Trump took office. The White House insists thereâs no conflict.