Democratic Senator Jon Ossoff has called for the impeachment of the President after Trump announced he would host a “dinner of honor” for his high-level memecoin investors.
Ossoff criticized Trump’s move as “selling through direct interaction” and called it “a potentially impeachable offense.”
Ossoff spoke before a crowd that was showing anger in a video shared by Georgia political reporter Greg Bluestein: “When a sitting president of the United States sells an interactive operation in exchange for payments being directly transferred to him, there is no doubt that this action has reached a level of criminality that could warrant impeachment.”
The House has the authority to impeach a federal official, including the president, for treason, bribery, or “high crimes and misdemeanors.” If impeached, the president must stand trial in the Senate, where a two-thirds majority is required for removal.
Trump, who was impeached twice during his first term and acquitted by the Senate both times, has positioned himself as a defender of the cryptocurrency industry in his current presidential term.
However, Trump’s personal involvement in cryptocurrency projects has also raised ethical concerns. The businesses associated with Trump and his family include the stablecoin issuer World Liberty Financial, bitcoin mining projects, cryptocurrency-based ETFs, and memecoins named after both the president and the first lady.
The latest controversy revolves around the memecoin TRUMP, which announced on Wednesday that 220 top investors will be invited to a formal dinner with the president at his Virginia golf club on May 22. Those in the top 25 will also be served in VIP style, including a banquet with Trump and a tour of the White House.
Since its announcement, the value of the TRUMP token has increased by over 40%. Trump and his close associates are estimated to hold 80% of the token supply, which is currently valued at approximately 10.8 billion dollars.
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