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A resolution condemning the financial entanglements of President Donald J. Trump with the $TRUMP meme coin.

USA119th CongressSRES-245| Senate 
| Updated: 5/21/2025
Richard Blumenthal

Richard Blumenthal

Democratic Senator

Connecticut

Homeland Security and Governmental Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
This resolution condemns former President Donald J. Trump's financial ties to the $TRUMP meme coin, a cryptocurrency launched in January 2025 and promoted by him. The resolution highlights that meme coins are speculative assets driven by market demand, and entities affiliated with Trump, including Fight Fight Fight LLC and CIC Digital LLC, collectively own 80 percent of the issued coins, valued at over $10 billion, and receive substantial transaction fees from trading activity. The resolution expresses concern that this arrangement permits and facilitates covert payments to the President, potentially from foreign governments and individuals, through the pseudonymity of the blockchain. It points to a "Dinner with Trump" competition for top $TRUMP holders as an example of auctioning access to the Presidency. Furthermore, it alleges that top holders include foreign nationals and entities, with specific mentions of a Chinese-linked firm and a Mexican shipping firm reportedly purchasing $TRUMP to influence U.S. policy, and Justin Sun, who faced SEC litigation, as a top holder. The resolution asserts that any purchase of $TRUMP by a foreign government constitutes a violation of the Foreign Emoluments Clause of the U.S. Constitution, as President Trump did not seek congressional consent for such payments. It argues that these financial entanglements represent an unprecedented pay-to-play scheme that undermines public trust and the integrity of public office. Consequently, the resolution demands the transfer of any proceeds from foreign government purchases of $TRUMP, received in violation of the Emoluments Clause, to the United States Government.
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Timeline
May 21, 2025
Introduced in Senate
May 21, 2025
Referred to the Committee on Homeland Security and Governmental Affairs. (text: CR S3066)
  • May 21, 2025
    Introduced in Senate


  • May 21, 2025
    Referred to the Committee on Homeland Security and Governmental Affairs. (text: CR S3066)

Government Operations and Politics

A resolution condemning the financial entanglements of President Donald J. Trump with the $TRUMP meme coin.

USA119th CongressSRES-245| Senate 
| Updated: 5/21/2025
This resolution condemns former President Donald J. Trump's financial ties to the $TRUMP meme coin, a cryptocurrency launched in January 2025 and promoted by him. The resolution highlights that meme coins are speculative assets driven by market demand, and entities affiliated with Trump, including Fight Fight Fight LLC and CIC Digital LLC, collectively own 80 percent of the issued coins, valued at over $10 billion, and receive substantial transaction fees from trading activity. The resolution expresses concern that this arrangement permits and facilitates covert payments to the President, potentially from foreign governments and individuals, through the pseudonymity of the blockchain. It points to a "Dinner with Trump" competition for top $TRUMP holders as an example of auctioning access to the Presidency. Furthermore, it alleges that top holders include foreign nationals and entities, with specific mentions of a Chinese-linked firm and a Mexican shipping firm reportedly purchasing $TRUMP to influence U.S. policy, and Justin Sun, who faced SEC litigation, as a top holder. The resolution asserts that any purchase of $TRUMP by a foreign government constitutes a violation of the Foreign Emoluments Clause of the U.S. Constitution, as President Trump did not seek congressional consent for such payments. It argues that these financial entanglements represent an unprecedented pay-to-play scheme that undermines public trust and the integrity of public office. Consequently, the resolution demands the transfer of any proceeds from foreign government purchases of $TRUMP, received in violation of the Emoluments Clause, to the United States Government.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
May 21, 2025
Introduced in Senate
May 21, 2025
Referred to the Committee on Homeland Security and Governmental Affairs. (text: CR S3066)
  • May 21, 2025
    Introduced in Senate


  • May 21, 2025
    Referred to the Committee on Homeland Security and Governmental Affairs. (text: CR S3066)
Richard Blumenthal

Richard Blumenthal

Democratic Senator

Connecticut

Homeland Security and Governmental Affairs Committee

Government Operations and Politics

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted