Rep. Raskin Demands Trump Disclose $394M $TRUMP Coin Buyers

Rep. Jamie Raskin has called on President Donald Trump to disclose the guest list and funding sources of individuals who purchased $TRUMP memecoins to attend a private dinner. The demand comes amid concerns over potential illegal foreign influence, as many of the 220 buyers are believed to be foreign nationals who spent a total of $394 million on the coins.

Raskin's letter, sent on Thursday, emphasizes the need for transparency, particularly given the significant amount of money involved. He noted that the buyers collectively spent hundreds of millions of dollars, raising questions about who is paying for access to the president. Raskin also expressed concerns that the event may violate emoluments laws, which prohibit foreign government payments to U.S. officials. He has set a deadline of June 4, 2025, for the disclosure of the sources of funds used to purchase the coins.

One of the notable figures in this controversy is Chinese-born crypto investor Justin Sun, who reportedly spent $23 million on $TRUMP coins. Sun has previously faced scrutiny from the U.S. Securities and Exchange Commission for his connections to a Trump-related crypto firm. Raskin's concerns extend to the possibility that some of the funds used to purchase the coins may come from illegal sources or foreign governments, raising red flags about potential foreign influence through cryptocurrency.

This controversy is unfolding against the backdrop of the Bitcoin 2025 Conference in Las Vegas, where prominent crypto figures and members of the Trump administration are promoting a pro-crypto stance. The event highlights the administration's aggressive push to embrace cryptocurrency, but it also underscores the ongoing concerns about the intersection of digital assets and political power.

As the June 4 deadline approaches, all eyes are on President Trump to see if he will comply with Raskin's demands for transparency. The disclosure of the guest list and funding sources could provide valuable insights into who is buying access to the president and with what money, addressing the broader concerns about foreign influence and the role of cryptocurrency in politics.