Oh, how the mighty have fallen! US Representative Gerald Connolly, with a flourish of his quill, has summoned the spirits of integrity to address the tangled web of President Donald Trumpās financial escapades, particularly in the whimsical world of crypto.
In a missive that could rival the finest epistles, Connolly implores the House Oversight and Government Reform Committee to delve into the murky waters of potential conflicts of interest surrounding Trumpās crypto capers, which he argues might just be the Achilles’ heel of presidential ethics and transparency. š§
Trumpās Meme Coin: A Jester’s Gambit Against Transparency and National Security?
Connollyās letter, a veritable scroll of concern, highlights Trumpās grand endeavor in launching World Liberty Financial (WLF), a crypto project birthed from Trumpās dream of financial independenceālike a phoenix rising from the ashes of fiscal responsibility.
According to the latest gossip from the crypto grapevine, Justin Sun, the illustrious founder of Tron, has poured a kingās ransom into WLF. Connolly points out that our dear Justin is a foreign entrepreneur under the watchful eye of the US SEC, being investigated for alleged securities fraud related to his own crypto follies. š
Sunās $30 million investment in WLF tokens reportedly enabled the platform to meet its revenue target, possibly sending a golden stream of funds directly into Trumpās coffers and those of his kin. šø
āThe ever-expanding scope of President Trumpāand by extension The Trump Organizationāsāfinancial entanglements and quid pro quo promises are troubling,ā Connolly lamented, as if he were a bard recounting a tragic tale.
He insists that the Oversight Committee must don their detective hats and investigate these ventures under the auspices of the Presidential Ethics Reform Act. While WLFās tokens may not promise the golden goose of legitimate financial returns, Connolly warns that they provide a delightful avenue for individuals and foreign entities to curry favor with the Trump dynasty. šµ
Trumpās other crypto antics only add fuel to the fire of concern surrounding WLF. Just days before his grand inauguration, Trump unleashed a meme coin named āTRUMP.ā
The TRUMP token, already basking in a fully diluted valuation nearing $40 billion, has taken the crypto world by storm! The āOfficial Trumpā token, launched last week, skyrocketed over 1,100%, soaring from $6 to $75 in mere hours. Yet, as of this moment, it finds itself trading at a humble $37.93āoh, the fickleness of fortune! š
When queried about TRUMP at a recent gathering of the political elite, the President appeared as lost as a cat in a dog show.
āI donāt know where it is. I donāt know much about it other than I launched it, other than it was very successful,ā Trump mused, as if pondering the mysteries of the universe.
Moreover, the ever-eloquent Congresswoman Maxine Waters declared that the TRUMP meme coin ārepresents the worst of crypto.ā
āThrough his meme coin, Trump has created a way to circumvent national security and anti-corruption laws, allowing interested parties to anonymously transfer money to him and his inner circle,ā Waters proclaimed in a January 20 statement, her voice echoing through the halls of power.
She added, with a flourish of her own, that anyone across the globe, including those who have been sanctioned by the US, can now trade and profit from TRUMP. Ah, the joys of democracy! š
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2025-01-23 08:54