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.
Senator Cynthia Lummis, along with at least one other Republican in Congress, has reportedly criticized US President Donald Trump for offering a dinner and White House tour to the top holders of his memecoin.
CNBC reported on May 2 that Lummis expressed concern about the idea 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 joined other Republican Party members in criticizing the perks tied to Trump’s memecoin, which he announced on April 23—about three months after launching 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 expressing ‘pause’ over the president’s actions, Lummis posted a video to X on May 2 showing herself speaking on the Senate floor. In the video, she stated that Trump’s support for legislation to establish a strategic Bitcoin reserve ‘particularly pleased’ her.
Despite Lummis’ reported ‘pause’ regarding the president’s actions, she posted a video to X on May 2 showing herself speaking on the Senate floor. In the video, she expressed that Trump’s support for legislation to establish a strategic Bitcoin reserve in the United States ‘particularly pleased’ her. 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.
Impeachment Calls Emerge Over Alleged Crypto Ties
Numerous lawmakers and figures in the crypto industry reacted with significant outrage when Trump launched the TRUMP coin on January 17. They raised concerns about potential conflicts of interest and the risks of allowing foreign actors to channel funds directly to Trump. The criticism continued even after Trump announced that a group of top memecoin holders could apply for a White House tour and dinner.
Craig Holman, a government ethics expert with the consumer advocacy organization Public Citizen, said that Trump once claimed he was so wealthy no one could buy him. However, his obsession with money suggests that he can, in fact, be bought for a meme.
During an April 25 town hall, Georgia Senator Jon Ossoff, a Democrat, called for Trump’s impeachment, stating that the memecoin dinner amounted to ‘selling access for what are effectively payments directly to him.’ The House of Representatives impeached Trump twice during his first term, but the Senate acquitted him after the votes fell short of 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. Usernames on the TRUMP leaderboard sparked speculation that strong supporters like Tron founder Justin Sun and Tesla CEO Elon Musk could be among the attendees. However, as of May 2, the individuals and companies had not made any formal announcements.
