TRUMPs Memecoin Causes a Stir: Some Are Calling for Donald Trumps Impeachment Over His Memecoin

Democratic Senator Jon Ossoff called for the Presidents impeachment after Trump announced he would host a “gala dinner” for high-level investors of his memecoin.

Ossoff criticized Trumps move as a “direct interaction sell” and called it an “impeachable offense.”

“When a sitting president of the United States is selling an interaction in exchange for payments made directly to him, there is no question that that rises to the level of an impeachable offense,” Ossoff said, addressing a visibly angry crowd in a video shared by Georgia political reporter Greg Bluestein.

The House of Representatives has the power to impeach a federal official, including the president, for treason, bribery, or “other high crimes and misdemeanors.” If impeached, the president would face trial in the Senate, where a two-thirds majority is required for removal.

Trump, who was impeached twice in his first term and acquitted by the Senate both times, has positioned himself as a defender of the crypto industry during his current presidency.

But Trumps personal involvement in cryptocurrency ventures has also raised ethical concerns. Businesses linked to Trump and his family include stablecoin issuer World Liberty Financial, bitcoin mining ventures, crypto-based ETFs and memecoins named after both the president and the first lady.

The latest controversy centers around the TRUMP memecoin, which announced Wednesday that its top 220 investors will be invited to a gala dinner with the president at his Virginia golf club on May 22. Those in the top 25 will also receive VIP treatment, including a reception with Trump and a tour of the White House.

Since the announcement, the value of the TRUMP token has increased by more than 40%. Trump and his close associates are estimated to own 80% of the token supply, which is currently worth around $10.8 billion.