Washington Post columnist Catherine Rampell claimed as much President Donald Trump may use its new cryptocurrency, called $TRUMP coin, to accept bribes from foreign governments in a column on Tuesday.
Rampell beat buyers of the president’s cryptocurrencysaying, “The challenge for anyone who bought these coins is that if they want to cash out, they have to find a bigger fool willing to pay more,” and claiming, “Trump made these last billions through his biggest to rob fans.”
Although the Post columnist claimed Since there is unlikely to be a steady stream of retail investors willing to pay ever-increasing prices for the coin, she is confident that more nefarious buyers will keep the order books filled.
TRUMP EYES FIRST WHITE HOUSE CRYPTO CZAR
President Donald Trump speaks at the 2024 Bitcoin Conference in Nashville, Tennessee, on July 27, 2024. (Getty Images)
“Over the next four years, there may be one reliable source of persistent $TRUMP buyers: individuals, corporations and foreign governments looking to curry favor with the president,” Rampell said.
The headline of the piece read: “Trump Finds a New Way for Foreign Governments to Pay Him Off: Crypto.” The subhead read: “Trump’s cryptocurrency is little more than a whizbang Ponzi scheme.”
Rampell added an analogy describing how she thinks these alleged bribes would work.
“The Saudis no longer have to stay in one of Trump’s hotels — or even pretend to do so — to line the president’s pockets; they can use their digital wallets to show how much they’ve increased his wealth,” Rampell said, adding: “After all, every dollar they put into supporting the value of Trump’s memecoin will effectively add money to Trump’s bank account Trump, the emoluments clause be damned.”
The foreign emoluments clause of the US Constitution states: “(N)o Person holding any Office of Profit or Trust under (the United States) shall, without the Consent of Congress, accept any gift, emolument, office, or title, of whatever nature, from whatever nature whatsoever. King, prince or foreign state”
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Washington Post columnist Catherine Rampell claimed that Donald Trump may be violating the Foreign Emoluments Clause of the U.S. Constitution with his $TRUMP cryptocurrency. ((Eric BARADAT / AFP))
The columnist also claimed that $TRUMP insiders appear to be engaging in insider trading.
“Meanwhile, $TRUMP insiders appear to already be transferring some of their tokens to an overseas trading platform that is banned from transacting in the United States. Perhaps they are positioning themselves to be beyond the reach of the US government,” Rampell said. .
During the day Trump’s Inaugural Address On Monday, the president told Americans that “a radical and corrupt establishment has stripped power and wealth from our citizens for years.”
Rampell ended her column by addressing this quote to the president, claiming, “Perhaps his objection was that the old establishment simply wasn’t tech-savvy enough.”
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The White House did not immediately respond to Fox News Digital’s request for comment.
