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Washington Post columnist Catherine Rampell alleged that President Donald Trump can use his new cryptocurrency, called $TRUMP coin, to accept bribes from foreign governments in a column Tuesday.
Rampell harshly criticized the buyers of the president’s cryptocurrencysaying, “The challenge now for anyone who bought these coins is that if they want to cash them out, they have to find a bigger sucker willing to pay more,” stating, “Trump has made these last few billions by fleecing his biggest fans.”
Although he The columnist of the post stated Although there is unlikely to be a steady flow of retail investors willing to pay increasingly higher prices for the coin, he is confident that more nefarious buyers will keep order books full.
TRUMP WATCHES FIRST White House Crypto Czar
President Donald Trump speaks at the Bitcoin 2024 conference in Nashville, Tennessee, on July 27, 2024. (Getty Images)
“Over the next four years, there may be a reliable source of continued buyers of $TRUMP: individuals, companies and foreign governments who want to curry favor with the president,” Rampell said.
The headline of the article read: “Trump finds new way to get paid by foreign governments: cryptocurrencies.” The caption read: “Trump’s cryptocurrency is little more than a genius Ponzi scheme.”
Rampell included an analogy describing how he thinks these alleged bribes would work.
“The Saudis no longer need to stay at one of Trump’s hotels, or even pretend to do so, to line the president’s pockets; they can flash their digital wallet to show how much they have increased their net worth,” Rampell said, adding: “After After all, every dollar they invest to prop up the value of Trump’s memecoin will effectively add cash to Trump’s bank account, emoluments clause be damned.”
The Foreign Emoluments Clause the united states constitution states: “(N) no person holding any office of profit or trust under (the United States), shall, without the consent of Congress, accept any gift, emolument, office or title, of any kind, from any King, Prince or “foreign state”
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Washington Post columnist Catherine Rampell alleged that Donald Trump may be violating the Foreign Emoluments Clause of the United States Constitution with his $TRUMP cryptocurrency. ((Éric BARADAT/AFP))
The columnist also alleged that $TRUMP insiders appear to be engaging in insider trading.
“Meanwhile, $TRUMP insiders appear to already be transferring some of their tokens to an offshore trading platform that is not allowed to execute transactions in the United States. Perhaps they are positioning themselves to stay out of the government’s reach. from the U.S. anyway,” Rampell said. .
During Trump’s inaugural address On Monday, the president told Americans that “for many years, a radical and corrupt establishment has extracted power and wealth from our citizens.”
Rampell ended his column by directing this quote to the president, stating, “Perhaps your objection was that the old establishment simply wasn’t tech-savvy enough.”
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The White House did not immediately respond to Fox News Digital’s request for comment.
