Washington Post columnist Katherine Rumble claimed that President Donald Trump may use his new cryptocurrency, called Trump Coin, to receive bribes from foreign governments in a column on Tuesday.
Rampell criticized the buyers President’s cryptocurrency“The challenge for anyone who bought these coins now is that if they want to cash out, they have to find a bigger idiot willing to pay more,” he said, claiming that “Trump has made these last billions by ripping off his biggest fans.”
in spite of The columnist claimed that Because there is unlikely to be a steady stream of retail investors willing to pay higher and higher prices for the coin, she is confident that the most voracious buyers will keep order books full.
Trump is eyeing the White House for the first time ever
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 one reliable source of continued Trump buyers: individuals, companies and foreign governments that want to curry favor with the president,” Rumble said.
The headline of the article was: “Trump Finds New Way for Foreign Governments to Pay Him Money: Cryptocurrencies.” The subtitle read: “Trump’s cryptocurrency is nothing more than a Ponzi scheme.”
Rumble included an analogy describing how she believes these alleged bribes would work.
“The Saudis no longer need to stay in one of Trump’s hotels — or just pretend to do so — to line the president’s pockets; they can use their digital wallet to show how much they have boosted his net worth,” Rumble said. After all, every dollar they put in to support the value of Trump’s meme coin will add cash to Trump’s bank account, regardless of the rewards item.
The Foreign Emoluments Clause of the United States Constitution states:[N]o A person who holds any office of profit or trust [the United States]“No gift, emolument, office, or title of any kind whatsoever may be accepted from any king, prince, or foreign power.”
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Washington Post columnist Katherine Rumpel has claimed that Donald Trump may be violating the Foreign Emoluments Clause of the US Constitution with his cryptocurrency $TRUMP. ((Eric Bradat/AFP))
The columnist also claimed that insiders on the Trump deal appear to be engaging in insider trading.
“Meanwhile, it appears that $TRUMP insiders are already moving some of their tokens to an offshore trading platform that is not allowed to execute trades in the US. They are probably putting themselves beyond the reach of the US government anyway,” Rumble said. .
During Trump’s inauguration speech on Monday, the president told Americans that “for many years, a radical and corrupt establishment has taken power and wealth from our citizens.”
Rumpel ended her column by directing this quote to the president, saying, “His objection may have been 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.
