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Trump’s use of presidential seal at memecoin event raises legal questions

President Donald Trump is facing scrutiny after speaking at a private event for top investors in his $TRUMP memecoin while standing behind a lectern emblazoned with the official presidential seal — a move that may violate federal law.

The event took place Thursday at Trump National Golf Club in Virginia, where Trump addressed 220 investors in his cryptocurrency project.

According to US law, the presidential seal cannot be used in any manner that could imply government approval or sponsorship. Violators can face fines or up to six months in prison.

Trump, who arrived at the club aboard a military helicopter, praised attendees and took aim at the Biden administration’s crypto stance.

When asked about potential conflicts of interest, White House Press Secretary Karoline Leavitt said the president’s involvement was personal. “It is not a White House dinner,” she told reporters. “It’s not taking place here at the White House.”

Related: Pictures give glimpse inside Trump’s memecoin holder dinner

Trump features presidential seal at private properties

This isn’t the first time Trump has featured the presidential seal at his private properties. Forbes has previously reported its use as golf markers at several Trump-owned clubs.

In a May 22 letter to the Justice Department, 35 House members asked the public integrity section acting chief, Edward Sullivan, to launch an inquiry over the memecoin dinner to determine whether it violated the federal bribery statute or the foreign emoluments clause of the US Constitution. 

Under the emoluments clause, a US president is barred from accepting any gift from a foreign state without the approval of Congress.

Trump’s use of presidential seal at memecoin event raises legal questions
Source: Molly Ploofkins

Bloomberg reported that a majority of the attendees at the memecoin dinner were likely foreign nationals based on their connections to crypto exchanges. 

“US law prohibits foreign persons from contributing to US political campaigns,” said the letter. “However, the $TRUMP memecoin, including the promotion of a dinner promising exclusive access to the President, opens the door for foreign governments to buy influence with the President, all without disclosing their identities.”

Related: US lawmaker introduces anti-corruption bill ahead of Trump’s dinner

Trump embraces crypto despite previous skepticism

Trump’s embrace of crypto marks a sharp turn from his skepticism during his first term. The $TRUMP memecoin, launched earlier this year, peaked at $74.34 before falling to $14.44 by May 22.

High-profile guests at the dinner included Tron founder Justin Sun, ex-NBA player Lamar Odom, and Asian crypto executives Sangrok Oh and Vincent Liu.

Sun, who reportedly invested over $40 million in $TRUMP tokens and spoke at the dinner, also has deep ties to Trump’s crypto ventures. He’s the top backer of World Liberty Financial, a Trump-affiliated firm currently under regulatory scrutiny.

Magazine: Crypto scam hub expose stunt goes viral, Kakao detects 70K scam apps: Asia Express

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Ex-minister Tulip Siddiq set to face corruption trial in Bangladesh

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Ex-minister Tulip Siddiq set to face corruption trial in Bangladesh

Former anti-corruption minister Tulip Siddiq is set to face trial later this month over corruption allegations in Bangladesh.

Ms Siddiq resigned from her ministerial role earlier this year over accusations she illegally received a plot of land in a new high-end development on the outskirts of Dhaka, Bangladesh’s capital, from her aunt, Sheikh Hasina, who was ousted as prime minister last year.

Bangladesh’s Anti-Corruption Commission (ACC) claims the Labour MP received a 7,200sq ft plot in the diplomatic zone through “abuse of power and influence”.

The ACC confirmed Ms Siddiq’s case is due to be heard in Bangladesh on 11 August.

A top official at the Commission told Sky News that if the Labour MP refuses to attend court on this date, a trial will be held in her absence.

It is understood she will not be present.

Ms Siddiq’s lawyers have denied the allegations against her.

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Tulip Siddiq with Sheikh Hasina in 2009. Pic: Reuters
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Tulip Siddiq with Sheikh Hasina in 2009. Pic: Reuters

Sky News understands an article published on Thursday morning saying the Labour MP for Hampstead and Highgate will face trial in Bangladesh over the allegations is the first Ms Siddiq had heard of the court date.

A source close to Ms Siddiq told Sky News her lawyer was in court every day last week to request information, but was denied it.

An ACC official said Ms Siddiq’s lawyer “was absent in the court” when the court order was issued on Thursday.

They added that the order relates to three cases involving Ms Siddiq and others – all regarding corruption around the Purbachal new town project.

The Commission will continue to take steps “to ensure justice against the perpetrators”, the official said.

Ms Siddiq’s lawyer said: “For nearly a year now, the Bangladesh authorities have been making false allegations against Tulip Siddiq.

“Ms Siddiq has not been contacted or received any official communication from the court and does not and has never owned any plot of land in Purbachal.

“This longstanding politically motivated smear campaign has included repeated briefings to the media, a refusal to respond to formal legal correspondence, and a failure to seek any meeting with or question Ms Siddiq during the recent visit by the Anti-Corruption Commission (ACC) to the United Kingdom.

“Such conduct is wholly incompatible with the standards of a fair, lawful, and credible investigation.

“In light of these facts, it is now time for the Chief Adviser and the ACC to end this baseless and defamatory effort to damage Ms Siddiq’s reputation and obstruct her work in public service.”

Read more:
Bangladesh issues arrest warrant for Tulip Siddiq – as she denies claims
Tulip Siddiq: ‘My lawyers are ready’ for questions about corruption claims

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‘Leave me alone’: MP tells Bangladeshi authorities

In June, Ms Siddiq accused Bangladesh’s interim leader, Nobel Prize-winning economist Professor Muhammad Yunus, of conducting an “orchestrated campaign” to damage her reputation and “interfere with UK politics”.

In a legal letter seen by Sky News in June, the MP also said comments made by Professor Yunus in a Sky News interview have prejudiced her right to a fair investigation, meaning the corruption inquiries should be dropped.

The interim leader, who took over after Ms Hasina was ousted last year following violent protests, said Ms Siddiq “has so many (sic) wealth left behind here” and “should be made responsible”.

Sheikh Hasina pictured in 2023.
Pic: AP/ Yomiuri Shimbun
Image:
Sheikh Hasina fled Bangladesh after being accused of rigging elections and interfering with the judicial system. Pic: AP/ Yomiuri Shimbun

Professor Yunus’ press secretary said he and the ACC “has no reason and scope to interfere in UK politics”.

“The Anti-Corruption Commission relies not on hearsay but on documentary evidence and witness testimony,” they said.

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Andreessen Horowitz warns of loopholes in draft US crypto rules

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Andreessen Horowitz warns of loopholes in draft US crypto rules

Andreessen Horowitz warns of loopholes in draft US crypto rules

Andreessen Horowitz urged the US Senate Banking Committee to scrap the “ancillary asset” concept in draft crypto legislation, warning of loopholes.

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Salvadoran President Nayib Bukele can now run for election indefinitely

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Salvadoran President Nayib Bukele can now run for election indefinitely

Salvadoran President Nayib Bukele can now run for election indefinitely

El Salvador approved indefinite reelection for president and extended terms to six years, sparking backlash from critics warning of increasing authoritarianism.

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