Donald Trump faces allegations of violating federal law by using the presidential seal at a $TRUMP dinner, implying government endorsement.
A new controversy is erupting, which alleges that US President Donald Trump violated federal law by donning a presidential seal at the Trump dinner and addressing holders of the TRUMP meme coin. The White House had verified that this event was more in his personal capacity, and as a result, the act of donning the presidential seal was an egregious violation of the country’s laws. It has been reported that the US President could be sentenced to six months in prison due to this violation.
Will the President of the United States be sentenced to prison for violating federal law during the Trump Dinner?
The United States President addressed nearly 220 investors of his TRUMP coin at the gala Trump dinner held at his Virginia golf club. He seized the opportunity to criticize the Joe Biden administration, stating, “The previous administration caused you to suffer.” According to a report in the New York Times, Trump expressed his gratitude for the opportunity to assist all individuals in the area.
However, numerous individuals also noted that Trump’s utilization of his presidential seal at a private event contravened federal law. The Federal law forbids the use of the seal in a manner that could “create a false impression of government sponsorship or approval.” Fines or imprisonment for a maximum of six months may be imposed for violations.
Numerous legislators, including Elizabeth Warren and others, have already expressed concerns regarding the President’s promotion of his TRUMP Coin and the potential for his crypto project to receive undue benefit through his administration. Nevertheless, White House Press Secretary Karoline Leavitt denied the existence of any conflict of interest, stating, “
“The president is attending it in his personal time, it is not a White House dinner, it’s not taking place here at the White House.”
Notable Thursday Trump dinner attendees included Justin Sun, the primary investor in TRUMP coins and crypto billionaire; Lamar Odom, a former NBA player; Sangrok Oh, a Korean crypto executive; and Vincent Liu, a Taiwanese crypto executive. Sun, the founder of the blockchain platform Tron, has invested more than $40 million in TRUMP coins. Additionally, the President of the United States made audacious assertions that the United States is the dominant force in the fields of Bitcoin and cryptocurrency.
TRUMP Coin Experiences Selling Pressure
TRUMP Coin’s price has declined by 7.27% to $12.87 in the context of the broader crypto market selloff, and daily trading volumes have plummeted by 40% to $1.64 billion. Despite the substantial TRUMP whale accumulation, there has been a significant pullback after the rejection at $16 earlier this week.
