A WaPo columnist suggests that Trump may be using the $TRUMP token to receive foreign bribes
This was stated by Washington Post columnist Catherine Rampell President Donald Trump can use his new cryptocurrency, called the $TRUMP coin, to take bribes from foreign governments in Tuesday’s column.
Rampell slammed the customers the president’s cryptocurrencysaying, “Now the challenge for anyone who bought these coins is that if they want to cash out, they have to find a bigger fool willing to pay more,” claiming, “Trump made these last billions by driving away his biggest fans.”
Although it is The post claimed the columnist that it is unlikely that there will be a steady stream of retail investors willing to pay higher and higher prices for the coin, she is confident that more and more vicious buyers will keep the order books full.
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President Donald Trump speaks at the 2024 Bitcoin Conference in Nashville, Tennessee on July 27, 2024. (Getty Images)
“For the next four years, there could be one reliable source of steady buyers of $TRUMP: individuals, companies and foreign governments looking to ingratiate themselves with the president,” Rampell said.
The headline of the article read: “Trump Finds New Way to Get Foreign Governments to Pay Him: Crypto.” The subtitle read: “Trump’s crypto coin is little more than a miraculous Ponzi scheme.”
Rampell included an analogy that described how she believes these alleged bribes will work.
“The Saudis no longer have to stay at one of Trump’s hotels — or just pretend they do — to line the president’s pockets; they can show their digital wallet to show how much they’ve boosted his net worth,” Rampell said, adding, ” After all, every dollar they put into boosting the value of Trump’s memecoin will effectively add cash to Trump’s bank account, emoluments clause be damned.”
Clause on foreign income The US Constitution states, “[N]o A person holding any office of profit or trust under [the United States]shall, without the consent of Congress, accept any present, reward, office, or title, of any kind whatsoever, from any king, prince, or foreign state”
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Washington Post columnist Catherine Rampell claims that Donald Trump may be violating the Foreign Earnings Clause of the US Constitution with his $TRUMP cryptocurrency. ((Eric BARADAT / AFP))
The columnist also alleged that $TRUMP insiders were engaging in insider trading.
“Meanwhile, it appears that $TRUMP insiders are already transferring some of their tokens to an overseas trading platform that is not allowed to execute trades in the United States. They may be setting themselves up beyond the reach of the US government anyway,” Rampell said.
During Trump’s inaugural speech on Monday, the president told Americans that “for many years, a radical and corrupt government has extracted power and wealth from our citizens.”
Rampell ended her column by turning this quote on the president, claiming, “Maybe his objection was that the old establishment just wasn’t tech-savvy enough.”
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The White House did not immediately respond to Fox News Digital’s request for comment.
