A resolution condemning the financial entanglements of President Donald J. Trump with the $TRUMP meme coin.
This Senate resolution (S. Res. 245) condemns what it describes as the financial entanglements between President Donald J. Trump and the $TRUMP meme coin. It recounts the launch and promotional activity around the coin, notes significant price volatility and promotional events (including a “Dinner with Trump” and a “VIP White House Tour” for top holders), and raises concerns that foreign holders and foreign governments may be directly enriching the President through the coin. The resolution frames these activities as a potential pay-to-play scheme that undermines public trust and could implicate the Constitution’s Foreign Emoluments Clause if a foreign government purchases $TRUMP without Congressional consent. The bill asserts that any such foreign purchase would violate the Constitution and demands that proceeds from foreign purchases go to the U.S. Government. It is an introductory Senate resolution referred to the Committee on Homeland Security and Governmental Affairs. In short, the resolution is a formal Senate statement condemning the Trump–$TRUMP entanglements, articulating constitutional concerns, and calling for the proceeds of any foreign purchases to be turned over to the United States. It does not itself enact new law but signals congressional concern and possible future oversight or legislative attention.
Key Points
- 1Condemns the financial entanglements between President Trump and the $TRUMP meme coin, including mechanisms that could facilitate covert payments to the President and access to the Presidency for the highest bidders.
- 2States that foreign purchases of $TRUMP would violate the Foreign Emoluments Clause of the Constitution because Congress did not consent to such payments; emphasizes the President’s obligation to uphold the public trust.
- 3Demands transfer of any proceeds from foreign government purchases of $TRUMP that the President may have received in violation of the Foreign Emoluments Clause to the United States Government.
- 4Highlights the promotional activities (e.g., “Dinner with Trump” and a VIP tour) as factors that could artificially sustain the coin’s value and provide access to the Presidency for financial gain.
- 5Notes the resolution’s status and referral to the Committee on Homeland Security and Governmental Affairs, indicating potential future congressional scrutiny or action.