US Senator Calls for Impeachment of Donald Trump Over Memecoin

Cointelegraph.com US Senator Calls for Impeachment of Donald Trump Over Memecoin Cointelegraph • 2 hrs • 2 mins read US Senator Jon Ossoff called for impeachment proceedings against President Donald Trump at a town hall meeting on April 25, citing the president's plan to host a private dinner for high-profile crypto investors in his Trump memecoin. "I mean, I read just 48 hours ago that he's giving people who buy his memecoin a private audience," Ossoff, a Democrat, said, according to an NBC News report. "If the sitting president of the United States is selling private audiences for money that's indirectly flowing to him, there's no question that this is objectionable behavior." Senator Ossoff emphasized during a town hall meeting in Georgia, where he is running for re-election to the Senate, that he "strongly" supports impeachment proceedings. The senator added, however, that impeachment proceedings are unlikely unless the Democratic Party gains control of Congress in the 2026 midterm elections. Trump's own Republican Party currently holds majorities in both the House and Senate. Conflicts of interest due to crypto projects? On April 23, the official website of the Trump memecoin (TRUMP) announced that Trump would host an exclusive dinner with the 220 largest TRUMP investors at his golf club in Washington, DC. The website subsequently published a ranking of the largest TRUMP wallets and a link to register for the event. The price of the TRUMP token has increased by more than 50% since the announcement, according to data from CoinMarketCap. The specific guest list remains unknown, but the memecoin website states that applicants must first pass background checks, "cannot be from a country on a watchlist," and are not allowed to bring any additional guests. On April 25, the team behind TRUMP denied rumors on social media that TRUMP investors needed at least $300,000 to attend the upcoming dinner with the president. "People have mistakenly listed 220th place according to the block explorer as a benchmark. This is incorrect because it includes things like locked tokens, exchanges, market makers, and those who are not participating. Instead, you should only go by our leaderboard," the statement read. Legal experts told Cointelegraph that Trump's crypto projects, including the TRUMP memecoin and the Trump-affiliated decentralized finance (DeFi) protocol World Liberty Financial, raise significant concerns about potential conflicts of interest. "Within just a few days of taking office, he signed a series of executive orders that will significantly impact the way our crypto industry operates," Charlyn Ho of the Rikka law firm warned Cointelegraph in February. "So if he has a personal wealth advantage from his own policies, that's a conflict of interest."