Washington Post columnist Catherine Rampell claimed in a Tuesday column that President Donald Trump could use his new cryptocurrency, $TRUMP Coin, to receive bribes from foreign governments.
“The challenge now for people who have bought these coins is that if they want to cash them out, they have to find a bigger fool to pay more,” Rampel said. “That’s what Trump did recently.” “He makes billions by driving away his most passionate fans.”
The Post columnist argued that it’s unlikely there will be a steady stream of retail investors willing to pay increasingly higher prices for the coin, but she’s confident more nefarious buyers will fill up the order books.
Trump eyes CZAR, the first-ever White House cryptocurrency.
U.S. President Donald Trump speaks at the 2024 Bitcoin Conference in Nashville, Tennessee, on July 27, 2024. (Getty Images)
“Reliable sources that could continue to purchase $TRUMP over the next four years could be individuals, corporations, or foreign governments,” Rampell said.
The article’s headline read: “Trump has found a new way for foreign governments to pay him: Cryptocurrency.” The sub-headline reads, “Trump’s cryptocurrency is nothing more than a genius Ponzi scheme.”
Rampell included an analogy to explain how he believes these bribery charges would work.
“Saudis no longer have to stay at Trump’s hotels or pretend to do so,” Rampel said, adding, “They can show how much Trump’s net worth has grown through a digital wallet.” “In the end, every dollar they invest in backing the value of Trump’s memecoin will effectively add cash to Trump’s bank account, emoluments clause be damned.”
The Foreign Allowances Clause of the U.S. Constitution states, “No person holding any office for profit or trust under (the United States) shall accept any present salary, office, or title, without the consent of Congress.” , kings, princes or of foreign origin of any kind”
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Washington Post columnist Catherine Rampell has claimed that Donald Trump may have violated the Foreign Allowance Clause of the U.S. Constitution with his $TRUMP cryptocurrency. ((Eric Baradat/AFP))
The columnist also claimed that $TRUMP insiders appear to be engaging in insider trading.
“Meanwhile, $TRUMP insiders appear to be already moving some tokens to offshore trading platforms that cannot execute transactions in the U.S. Perhaps they are trying to position themselves out of reach of the U.S. government anyway,” Rampell said. .
“For years, a radical and corrupt establishment has been stealing power and wealth from our citizens,” Trump told Americans in his inaugural address Monday.
Rampell ended his column by attributing this quote to the president and asserting, “Perhaps his objection was that the existing agencies were simply not tech-savvy enough.”
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The White House did not immediately respond to Fox News Digital’s request for comment.
