Wyoming Senator Cynthia Lummis reportedly expressed concerns about the reward for Donald Trump’s memecoin holders, stating that it “gives pause,” despite her support for the president’s Bitcoin reserve plan.
It has been reported that Senator Cynthia Lummis, along with at least one other Republican in Congress, has criticized US President Donald Trump for offering a dinner and White House tour to the top holders of his memecoin.
It was reported by CNBC on May 2 that Lummis expressed concern about the notion of the US president offering exclusive access to himself and the White House to individuals willing to pay for it, stating that it “gives [her] pause.” She was not the only Republican Party member to criticize the perks associated with Trump’s memecoin, which were announced on April 23, about three months after the former president-elect launched the TRUMP token.
According to NBC News, Republican Senator Lisa Murkowski stated that she did not believe it would be appropriate for her to charge individuals for a tour of the Capitol.
Despite the reported “pause” expressed by Lummis over the president’s actions, a video was posted by her to X on May 2, showing her speaking on the Senate floor. In the video, she stated that she was “particularly pleased” with Trump’s support for legislation aimed at establishing a strategic Bitcoin reserve.
Despite Lummis’ reported “pause” regarding the president’s actions, a video was posted by her to X on May 2, showing her speaking on the Senate floor. In the video, she expressed being “particularly pleased” with Trump’s support for legislation aimed at establishing a strategic Bitcoin reserve in the United States. The Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act would appear to codify Trump’s executive order to create a national crypto reserve.
The launch of the TRUMP coin on January 17 was met with significant outrage from numerous lawmakers and figures in the crypto industry. Concerns were raised about potential conflicts of interest and the implications of allowing foreign actors to channel funds directly to Trump. The criticism persisted even after Trump announced that a group of the top memecoin holders would be given the opportunity to apply for a White House tour and dinner.
“It was once claimed by Trump that he is so wealthy he cannot be bought,” said Craig Holman, a government ethics expert with the consumer advocacy organization Public Citizen. “However, his obsession with money suggests that he can, in fact, be bought for a meme.”
Impeachment Calls Emerge Over Alleged Crypto Ties
During an April 25 town hall, Georgia Senator Jon Ossoff, a Democrat, called for Trump’s impeachment, stating that the memecoin dinner was an act of ‘selling access for what are effectively payments directly to him.’ Trump had been impeached twice in the House of Representatives during his first term but was acquitted after the Senate votes failed to reach the two-thirds majority needed for conviction.
As of the time of publication, it was uncertain who, if anyone, from the memecoin holders would attend the May 22 dinner with Trump. Speculation had been sparked by usernames on the TRUMP leaderboard, suggesting that strong supporters such as Tron founder Justin Sun and Tesla CEO Elon Musk could be among those present. However, as of May 2, no formal announcements had been made by the individuals or companies.
