Dinner with Trump: $TRUMP auction sparks foreign influence fears

• An auction for $ TRUMP cryptocurrency investors offers a dinner with U.S. President Donald Trump as the prize, raising concerns about foreign influence on U.S. politics.
• The auction concludes on Monday, with investors from various countries increasing their cryptocurrency holdings to gain the opportunity to influence American politics.
• Federal U.S. law prohibits foreigners from funding political campaigns, but does not prevent them from purchasing meme coins.

The auction concludes on Monday. In it, prominent investors in the Trump family’s cryptocurrency ($TRUMP) can win a dinner with the president at one of his golf courses or a tour of the White House.

In April, Trump announced that 220 main buyers of the Trump cryptocurrency would be invited to a dinner with the president. Since then, investors from various countries have increased their holdings of this cryptocurrency, with some admitting to purchasing assets and participating in the auction to influence American politics.

The "NYT" wrote that the auction, which faced criticism from both major parties in the U.S., exposes the president to the risk of foreign influence. For investors based outside the U.S., it is an opportunity to establish closer contact with the American president. The newspaper noted that while federal law prevents non-U.S. citizens from contributing to political campaigns, no regulations prohibit them from acquiring meme coins.

For example, Javier Selgas, the head of a transportation and logistics company in Mexico, announced in April that he planned to buy $TRUMP meme coins worth $20 million to persuade Trump to lower tariffs imposed on Mexico, benefiting his business. When these comments drew international attention, a company spokesperson clarified that they do not plan to send their representative to the dinner with Trump.

The White House rejects the criticism. An administration representative emphasized that the dinner is a "private event" during the president's private time. On Friday, White House spokesperson Karoline Leavitt assured that Trump "complies with all regulations concerning conflicts of interest."

The auction increased the price of the meme coin controlled by Trump’s family and business partners, adding billions of dollars to the value of the $TRUMP cryptocurrency. Trump announced its issuance on January 17, three days before his presidential inauguration.