Washington Post columnist Catherine Rampell suspects that President Donald Trump may use his new cryptocurrency, called the $TRUMP coin, to take bribes from foreign governments in a column on Tuesday.
Rampell criticized the buyers of the president’s money, saying, “The challenge now for anyone who bought these coins is that if they want to withdraw money, they have to find a big fool who is willing to pay more,” saying, “Trump has made these last billions by running away from his biggest supporters.”
While the Post columnist says it is unlikely that there will be a large number of investors willing to pay higher and higher prices for the coin, he is confident that many aggressive buyers will keep the order books full.
TRUMP’S EYES ARE ALWAYS THE CRYPTO CZAR OF THE WHITE HOUSE
President Donald Trump speaks at the 2024 Bitcoin Summit in Nashville, Tennessee, on July 27, 2024. (Getty Images)
“For the next four years, there may be one reliable source of continued $TRUMP buyers: individuals, corporations and foreign governments looking to curry favor with the president,” Rampell said.
The headline of the episode charged: “Trump finds a new way to get foreign governments to pay him: Crypto.” The subhead reads: “Trump’s cryptocurrency is more than a whizbang Ponzi scheme.”
Rampell included an analogy that explains how he believes these bribery allegations will work.
“The Saudis no longer need to stay at one of Trump’s hotels — or even pretend to — to line the president’s pockets; they can light up their wallets to show how much they’ve inflated his value,” Rampell said, adding, “After all, every dollar they put into boosting Trump’s memecoin will add cash to -Trump’s bank account, the emoluments clause was rejected.”
The Foreign Emoluments Clause of the US Constitution states, “[N]o A person who has an office of profit or Trust under him [the United States]without the Consent of Congress, shall accept any Gift, Pay, Office, or Title, of any kind, from any foreign King, Prince, or State.”
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The Washington Post columnist, Catherine Rampell, suspects that Donald Trump may have violated the Foreign Exchange Clause of the US Constitution with his $ TRUMP cryptocurrency. ((Eric BARADAT / AFP))
The author also alleged that $TRUMP insiders appear to be insider trading.
“Currently, $ TRUMP insiders appear to be transferring some of their tokens to an overseas trading platform that is not allowed to trade in the United States. Perhaps they are putting themselves in a position outside the reach of the US government anyway,” said Rampell. .
During Trump’s inaugural address on Monday, the president told the American people that “for years, a strong and corrupt establishment has taken power and wealth away from our citizens.”
Rampell ended his column by turning the quote back on the president, saying, “Maybe his objection was that the old agency didn’t have enough technical knowledge.”
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The White House did not immediately respond to Fox News Digital’s request for comment.
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