Sen. Jon Ossoff (D-Ga.) called for President Donald Trump’s impeachment on Friday for rewarding investors in his Official Trump (CRYPTO: TRUMP) meme coin with a gala dinner.
What Happened: Ossoff, a Democrat from Georgia, voiced his concerns at a town hall, contending that Trump’s act of selling access to him in exchange for payments made through his memecoin is an impeachable offense.
“He is granting audiences to people who purchase the meme coin that directly enriches him,” Ossoff said. “When the sitting president of the United States is selling access for what are effectively payments directly to him, there is no question that rises to the level of an impeachable offense.”
See Also: Dogecoin Surges 17% On The Week: What Is Going On?
Ossoff was not alone in raising these concerns. Fellow Democratic lawmakers Rep. Adam Schiff (D-Calif.) and Sen. Elizabeth Warren (D-Mass.) have requested that the U.S. Office of Government Ethics investigate Trump’s potential violation of federal ethics regulations over the private dinner event, reported CNBC.
Why It Matters: These allegations come even as the team behind the TRUMP meme coin updated its terms and conditions to indicate that Trump may not attend the gala dinner and that the event may be cancelled or rescheduled at their discretion.
The controversy began after the top 220 cryptocurrency holders were invited to an exclusive dinner with Trump, while the top 25 holders were promised access to a VIP reception and White House tour, as well as limited-edition commemorative non-fungible tokens. The memecoin surged as much as 65% on the announcement.
The project, 80% of whose supply is controlled by an affiliate of the Trump Organization, emphasizes that TRUMP is not a political initiative or investment opportunity but an expression of support for Trump’s ideals.
Trump has promoted the meme coin via his Truth Social account, deeming it “the greatest of them all” in March.
Price Action: At the time of writing, TRUMP was exchanging hands at $14.92, up 11.35 in the last 24 hours, and over 77% over the week, according to data from Benzinga Pro.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Image: Shutterstock/Phil Mistry
