Trump is selling himself–and his memecoin—to the highest bidder. And most of those top bidders appear to be foreign, according to Bloomberg.

More than 200 of the largest holders of Trump’s lucrative memecoin will be invited to attend a May 22 dinner with Trump at his golf club in Virginia. The 25 highest holders will qualify for a private reception prior to the dinner described as a “VIP” tour. The opportunity has caused a buying frenzy, leading to the meme coin shooting up by 20 percent in value, generating even more profit for the Trump family, which has raked in more than $320 million since January.

All but six of the top 25 holders used foreign exchanges that are closed to U.S. residents. And at least 56 percent of the 220 holders used other similar offshore exchanges. This raises valid concerns about just who will have access to the president during the May 22 dinner, as the guests have only been identified by short usernames of their choosing.

The top foreign exchanges used to buy the memecoin were Binance, Bybit and OKX—all markets that restrict U.S. users.

“The sitting president appears to be selling personal cryptocurrency while in office, granting access to people who buy it, and thereby enriching his business and his family. It’s gobsmacking,” Senator Jon Ossoff said to Politico. “I’d like to hear one Republican senator defend it. Any self-respecting Congress would demand an accounting of everyone trading this coin who has any business before the government.”

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Thanks to the Team @ The New Republic Source link & Great Job Malcolm Ferguson