President Donald Trump is under scrutiny for appearing at a private event promoting his $TRUMP memecoin while standing behind a lectern displaying the presidential seal. This usage may violate federal laws prohibiting the implication of government endorsement. The gathering, held in Virginia, brought together 220 investors, where Trump criticized the Biden administration's approach to cryptocurrency. White House Press Secretary Karoline Leavitt emphasized that the event was not an official White House dinner. Additionally, 35 House members have requested a review by the Justice Department to assess potential violations of the federal bribery statute and the emoluments clause, particularly since many attendees reportedly had foreign ties to crypto exchanges. This event is not Trump's first instance of displaying the presidential seal at private entities. Critics worry that his involvement with the $TRUMP memecoin could allow foreign interests to influence the President without transparency, especially amid laws barring foreign contributions to U.S. political campaigns. Trump’s recent embrace of cryptocurrency represents a shift from his earlier skepticism, with the $TRUMP token seeing significant fluctuations since its launch.

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