Trump, a memo coin tied to President Donald Trump, has risen about 16% in the last 24 hours, even after Democrats cited the president’s involvement in the token as a potential basis for each, and unlocked a massive lock early in the month.
At City Hall on Friday, Sen. John Ossoff (D-Ga.) points to a crypto project where top holders offer invitations to dinner events with President Trump, calling it a clear case of selling access to the presidency, NBC News reports.
“When the US sit-in president is selling access to what is directly and effectively paying him, and there’s no doubt that it will rise to the level of permalinkable crime,” O’Shea said.
US Senators Adam Schiff (D-Calif) and Elizabeth Warren (D-Mass.) also wrote to the Government Ethics Bureau on April 25th, calling for an investigation to determine whether President Trump invited top investors to violate federal ethics regulations.
Read more: Dinner with the President of the United States? All you need is a $420 worth of playing cards.
The allegations stem from the announcement that a private dinner will take place on May 22nd. There, the top 220 Trump Memo Coin holders can meet with the President of the United States.
Still, the card tokens continue to rise. Mimecoin has skyrocketed over 70% after the event was announced, and has already increased by 85% in the past seven days.
The rise has also happened after the token unlocked a massive $320 million lock earlier this month, significantly inflated its circular supply. Less than three months later, Trump Token, at the time of writing, was able to withstand an additional unlock of 25.1% of its current distribution supply, worth nearly $780 million.
Despite the recent rise, tokens are still down over $70, down more than 77%, and were seen shortly after launch. The subsequent prices have resulted in an estimated $2 billion in investors’ losses.
Read more: Trump token pops 12% after the US President calls it “the greatest of them”
