‘I have never seen such open corruption’: Trump’s crypto deals and loosening of rules shock observers | Trump administration
Cryptocurrency multibillionaire Justin Sun could barely contain his glee.
Last month, Sun publicly flaunted a $100,000 Donald Trump-branded watch that he was awarded at a private dinner at Trump’s Virginia golf club. Sun had earned the recognition for buying $20m dollars of the crypto memecoin $Trump, ranking him first among 220 purchasers of the token who received dinner invitations.
Trump’s much-hyped 22 May dinner and a White House tour the next day for 25 leading memecoin buyers were devised to spur sales of $Trump and wound up raking in about $148m, much of it courtesy of anonymous and foreign buyers, for Trump and his partners.
Memecoins are crypto tokens that are often based on online jokes but have no inherent value. They often…
