US President Donald Trump is set to host a gala dinner for significant holders of his Official Trump (TRUMP) memecoin on May 22, amidst bipartisan criticism and increasing impeachment calls. Critics, including Massachusetts Senator Elizabeth Warren, have raised concerns about the implications of a sitting president offering access to the presidency in exchange for financial investment in his business ventures. Senator Jon Ossoff highlighted that Trump's actions could constitute an impeachable offense. Pro-crypto Senator Cynthia Lummis also criticized the initiative, expressing concerns over the president selling access to himself and the White House. Senator Warren accused the Trump family’s stablecoin of increasing in value due to a questionable deal with the United Arab Emirates, warning that foreign financial involvement could jeopardize national security. This controversy comes as the TRUMP memecoin saw a significant rise in market cap following announcements related to investment engagements. Warren and other lawmakers advocate against passing pro-crypto legislation that could enable such dealings.

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