This Senate resolution condemns President Trump's financial involvement with the $TRUMP meme coin, a cryptocurrency launched in January 2025 by Fight Fight Fight LLC that the President actively promoted. The resolution alleges that Trump and affiliated entities own 80 percent of the $TRUMP coin supply, currently valued at $10.5 billion, and have collected $350 million in transaction fees from trading activity. The resolution particularly criticizes promotional efforts including a "Dinner with Trump" competition that appeared designed to boost the coin's value by offering access to the President to top coin holders, and notes that foreign nationals and potentially foreign government-linked entities hold significant amounts of the coin. The Senate resolution asserts that any purchase of $TRUMP by a foreign government would violate the Constitutional Foreign Emoluments Clause, which prohibits the President from accepting benefits from foreign states without Congressional approval, and demands that any such proceeds be transferred to the U.S. Government.
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