It’s been suggested that U.S. President Donald Trump potentially broke the law by employing the Presidential Seal during a private gathering for significant TRUMP memecoin owners.
White House: TRUMP Dinner a Private Event
U.S. President Donald Trump’s use of the Presidential Seal at an event where he spoke to major holders of the TRUMP memecoin may have violated federal law, a Forbes report has asserted. According to the report, the use of a lectern adorned with the Presidential Seal at the private function held at Trump National Golf Club on May 22 may have conveyed “a false impression of sponsorship or approval by the government,” an act prohibited by law.
As outlined in Section 713 of Title 18 of the United States Code, anyone who intentionally uses the U.S. government seal or its likeness to suggest approval from the government may face a fine and/or up to six months in prison.
Leading up to the dinner, the Trump administration aimed to ease concerns about foreign individuals, even potential adversaries of the U.S., potentially manipulating TRUMP memecoins for access or control over the American President. Just before the event, White House spokesperson Karoline Leavitt informed reporters that the gathering was a private affair and that Trump would be there as a private citizen.
According to a New York Times report, 220 top holders of the TRUMP memecoin attended the dinner, during which the Presidential Seal was illegally used. Among the attendees were Justin Sun, the founder of TRON; Wintermute founder Evgeny Gaevoy; and Anil Lulla and Yan Liberman, two co-founders of Delphi Digital, who were notable crypto entrepreneurs in attendance.
The TRUMP memecoin has been dogged by controversy since its launch just hours before Trump’s second inauguration. Soon after hitting a high of just below $75 at launch, the memecoin’s value plunged, leaving many investors in the red. Some critics and organizations have accused Trump of personally profiting from the sale of the memecoin, an allegation he has denied.
Despite the ongoing debates, Trump remains well-regarded within the American cryptocurrency sector, a group that faced challenges during the Biden presidency. At a recent TRUMP event, the President emphasized his administration’s commitment to enhancing the environment for crypto businesses.
“The past administration made your lives miserable; we’re honored to be working on helping everybody here,” Trump was quoted as saying.
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2025-05-24 21:32