Washington Publish columnist Catherine Rampell alleged that President Donald Trump might use his new cryptocurrency, referred to as $TRUMP coin, to take bribes from international governments in a column on Tuesday.
Rampell slammed patrons of the president’s cryptocurrency, saying, “The challenge now for anyone who bought these coins is that if they want to cash out, they have to find a greater fool willing to pay more,” claiming, “Trump has made these latest billions by fleecing his biggest fans.”
Though the Publish columnist claimed that it is unlikely that there will probably be a gradual stream of retail buyers keen to pay increased and better costs for the coin, she is assured that extra nefarious patrons will hold the order books stuffed.
TRUMP EYES FIRST-EVER WHITE HOUSE CRYPTO CZAR
President Donald Trump speaks on the 2024 Bitcoin convention in Nashville, Tennessee, on July 27, 2024. (Getty Photographs)
“For the next four years, there may be one reliable source of ongoing $TRUMP buyers: individuals, companies and foreign governments that want to curry favor with the president,” stated Rampell.
The headline of the piece charged: “Trump finds a new way for foreign governments to pay him off: Crypto.” The sub-headline learn: “Trump’s crypto coin is little more than a whizbang Ponzi scheme.”
Rampell included an analogy that described how she believes these alleged bribes would work.
“The Saudis no longer need to stay at one of Trump’s hotels — or merely pretend to — to line the president’s pockets; they can flash their digital wallet to show how much they’ve boosted his net worth,” stated Rampell, including, “After all, every dollar they put into propping up the value of Trump’s memecoin will effectively add cash to Trump’s bank account, emoluments clause be damned.”
The International Emoluments Clause of the U.S. Structure states, “[N]o Person holding any Office of Profit or Trust under [the United States], shall, without the Consent of the Congress, accept of any present, Emolument, Office, or Title, of any kind whatever, from any King, Prince, or foreign State”
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Washington Publish columnist, Catherine Rampell, alleged that Donald Trump could also be violating the International Emoluments Clause of the U.S. Structure together with his $TRUMP cryptocurrency. ((Eric BARADAT / AFP))
The columnist additionally alleged that $TRUMP insiders look like partaking in insider buying and selling.
“Meanwhile, $TRUMP insiders appear to already be transferring some of their tokens to an overseas trading platform that is not allowed to execute trades in the United States. Perhaps they’re positioning themselves to stand outside the U.S. government’s reach anyway,” stated Rampell.
Throughout Trump’s inaugural speech on Monday, the president instructed People that “for many years, a radical and corrupt establishment has extracted power and wealth from our citizens.”
Rampell ended her column by turning this quote on the president, claiming, “Perhaps his objection was that the old establishment simply wasn’t tech-savvy enough.”
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The White Home didn’t instantly reply to Fox Information Digital’s request for remark.
