Wyoming Senator Cynthia Lummis, a prominent advocate for cryptocurrency, has expressed concerns over President Donald Trump’s plan to host an exclusive dinner for top holders of his $TRUMP memecoin. Despite her support for Trump’s broader crypto initiatives, Lummis finds the event ethically troubling.
Ethical Concerns Over Exclusive Access
President Trump announced that the top 220 investors in his $TRUMP memecoin would be invited to a gala dinner, with the top 25 receiving a private White House tour and VIP reception. This announcement led to a significant surge in the coin’s value.
Senator Lummis remarked, “This is my president that we’re talking about, but I am willing to say that this gives me pause,” highlighting the ethical implications of offering exclusive access to political figures in exchange for financial investment.
Other lawmakers, including Senator Lisa Murkowski, echoed these sentiments, questioning the appropriateness of monetizing access to public institutions like the White House.
Advocating for a Strategic Bitcoin Reserve
While critical of the memecoin event, Senator Lummis continues to champion the establishment of a U.S. Strategic Bitcoin Reserve. She introduced the BITCOIN Act, proposing the acquisition of 1 million BTC over five years to bolster national financial security.
President Trump has endorsed this initiative, aligning with his executive order to create a national crypto reserve. Lummis emphasized the potential of this reserve to address the nation’s $36 trillion debt and reinforce economic sovereignty
