Trump Denies Financial Benefits from Presidency
Former President Donald Trump has refuted claims that he has benefited financially from his time in office, particularly regarding his cryptocurrency, TRUMP. During a recent interview with NBC’s Kristen Welker, she pressed Trump about allegations that he and his associates were profiting from the digital token.
Interview Highlights
Welker confronted Trump directly about the situation, questioning if he had gained any profits from cryptocurrency ventures. Trump firmly stated,
“I have not profited from it.”
When asked a second time whether he had profited from TRUMP, he responded,
“I haven’t even looked,”
but acknowledged that profit could arise from other investments if doing well in the stock market.
Impact of Dinner Announcement
The announcement that the top 220 holders of the TRUMP token would have a chance to dine with him had a notable impact. Recent data from Chainalysis indicated that Trump and his allies generated close to $900,000 in transaction fees over a two-day period following the announcement. Following the dinner offer, there was a significant surge of over 50% in the TRUMP token’s value. Notably, around 80% of this token’s overall supply is reportedly held by Trump’s organization and affiliated entities.
Concerns Raised
Critics, including experts in campaign finance and government accountability, have voiced concerns to NBC News, highlighting that the token and its associated dinner event might breach ethical standards, even if not strictly illegal. Some Republican lawmakers loyal to Trump have raised reservations regarding these activities, while figures such as California Senator Adam Schiff and Massachusetts Senator Elizabeth Warren have called on the U.S. Government Ethics Office to investigate the matter further.
Longstanding Accusations
Since the beginning of his presidency, accusations have emerged alleging that Trump and his family have improperly profited from their positions. Republican defenders often frame these claims as part of Trump’s longstanding business engagement, arguing that such actions fall within the scope of a typical business career.
