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1. Embed this notice
   Nonilex (nonilex@masto.ai)'s status on Friday, 02-May-2025 00:06:20 JST Nonilex

   When #Trump agreed to attend a dinner w/the largest investors in his own-brand #cryptocurrency, he transformed the TRUMP coin into something else entirely: a means of #access to the sitting president. As a consequence, Trump could find himself at odds w/constitutional prohibitions of #bribery & #corruption….

   Trump’s dinner announcement…instigated a trading frenzy that, on paper, added hundreds of millions of dollars to his net worth.

   #law #Constitution #EmolumentsClause
   https://www.wired.com/story/trumps-quest-for-crypto-riches-is-a-constitutional-scandal-waiting-to-happen/

   • Embed this notice
     Nonilex (nonilex@masto.ai)'s status on Friday, 02-May-2025 00:06:19 JST Nonilex

     in reply to

     …The dinner gambit puts the #TRUMP coin in a different class entirely. In establishing an explicit #QuidPrQuo — a large investment in exchange for an audience — the maneuver has effectively turned TRUMP into a #UtilityCoin, an asset that bestows on holders some perk or advantage.

     …The expectation of further opportunities to spend time w/Trump may continue to prop up the price.

     #law #Constitution #EmolumentsClause

   • Embed this notice
     Nonilex (nonilex@masto.ai)'s status on Friday, 02-May-2025 00:06:20 JST Nonilex

     in reply to

     However, the dinner maneuver may have political consequences for #Trump. In creating the opportunity for anybody w/sufficient #wealth to purchase an audience, Trump risks falling foul of a part of the US #Constitution — the #EmolumentsClause — that prohibit the president from accepting #gifts or financial #compensation from foreign & domestic state actors. In a worst-case scenario for the president, the potential for negative optics could add fuel to calls for his #impeachment.

     #law

     Mr. Bill repeated this.