- Buy Crypto
- Markets
- Futures
- Spot
- Copy Trade
Earn- More
Trump, Tiptoeing the Edge of the Constitution: The Night Before Taking Office, He Capitalized on a MEME Coin Craze
Original Article by: Zack Guzmán, Founder and Host of Coinage_media
Article Translation by: Ashley, BlockBeats
Editor's Note: The author points out that the Trump family cleverly circumvented the Constitution's Emoluments Clause controversy when launching the $TRUMP and $MELANIA tokens. By strategically entering the NFT and cryptocurrency space early on, they leveraged Web3 to maximize their interests within legal boundaries.
The following is the original content (slightly reorganized for better readability):
The Trump family rapidly rolled out the $TRUMP and $MELANIA tokens just before the inauguration ceremony for a very crucial reason. Whether you love or hate Trump, the fact is, delaying even one more day could have exposed him to the risk of constitutional violations and potential impeachment once again.
According to the Constitution, the President must not abuse their power for personal gain. In particular, the Emoluments Clause explicitly prohibits the President from receiving benefits or profits from foreign governments. This is precisely why these tokens are so noteworthy.
Over the past few years, the Trump couple has been testing the market waters through various NFT releases. They have used separate companies and seemingly different teams. These companies have paid Melania and Trump respective fees, thus maintaining the "independence" of direct token purchases.
According to Trump's public tax filings, he earned approximately $7.2 million through involvement in NFT-related transactions. This income is linked to his partnership with CIC Digital in the $TRUMP project. Melania, on the other hand, earned over $330,000 through an agreement related to NFT sales.
Despite all this appearing convoluted, one thing is certain: launching these tokens before Trump formally became President made things easier. Failing to do so would have made it easier to allege that Trump benefited from the presidency and violated the Emoluments Clause.
While our founding fathers hoped to prevent the President from unduly profiting from power, I don't think Jefferson or Madison ever discussed meme coins. What do you think?
You may also like
What Happened in Crypto Today? Solana-Native Rails Launch on Digitap ($TAP) as the Best Crypto to Buy
Key Takeaways Digitap ($TAP) spearheads the transition toward real-world utility in cryptocurrency, offering a seamless financial ecosystem through…
Here’s Why Fed Contender Kevin Warsh is Seen as Bearish for Bitcoin
Key Takeaways Kevin Warsh is a potential nominee for the U.S. Federal Reserve chair, causing concerns due to…
XRP Breaks Below Its 1-Year Support Range: What’s Next?
Key Takeaways XRP has slipped below its critical support range of $1.8 to $2.1, which had been steadfast…
XRP Price Breakdown Intensifies — Can Support Mitigate the Shock?
Key Takeaways XRP has dipped below the significant $1.80 mark, continuing its downtrend. The asset is trading beneath…
XRP Risk-Adjusted Returns Suggest a Period of Consolidation – Insights and Analysis
Key Takeaways: XRP’s recent price fluctuations highlight a lack of strong market momentum for a trend reversal. The…
Kevin Warsh Associated with Crypto Project Basis and Electric Capital
Key Takeaways Kevin Warsh, former U.S. Federal Reserve Board Governor, is associated with crypto initiatives Basis and Electric…
Why is Trump’s Fed Chair Pick Kevin Warsh Seen as Bad News for Precious Metals, Commodities, Bitcoin, and Equities?
Key Takeaways: Kevin Warsh, once appointed, is expected to take a more hawkish stance on monetary policy, which…
Who Is Kevin Warsh? How His Fed Chair Odds Are Influencing Bitcoin Markets
Key Takeaways Kevin Warsh, a former Federal Reserve governor, is becoming a strong candidate for the next Fed…
Strategy (MSTR) Stock: Michael Saylor’s Bitcoin Bet Goes Red But Here’s The Twist
Key Takeaways Strategy’s Bitcoin investment has dipped below its average purchase price, highlighting market volatility. No immediate financial…
Gov-Backed Asset or Solana Meme? Uncovering the Reality Behind the USOR Crypto Frenzy
Key Takeaways USOR, a Solana token, sparked a debate over its legitimacy by claiming associations with U.S. strategic…
Bitcoin Hashrate Falls 12% After US Winter Storms Hit Miners
Key Takeaways: The total network hashrate for Bitcoin has declined by approximately 12% since November 11, marking the…
Gold’s Six-Month Rally Against Bitcoin Shows Parallels to 2019 Cycle
Key Takeaways Gold has consistently outperformed bitcoin over the last six months, despite being typically considered the haven…
Untitled
I’m sorry, but without content to rewrite, I’m unable to produce an article within the specified word count…
Mantle’s Cross-Chain Era on Solana: Onboarding the Bybit Express to Mantle Super Portal
Key Takeaways Bybit joins forces with Mantle to enhance cross-chain asset flows through the Mantle Super Portal. Mantle…
XRP Price Outlook for 2026: Is Bitcoin Hyper Part of Long Term Themes?
Key Takeaways The potential future of XRP in 2026 is significant, with various factors influencing its growth and…
Bitcoin Price Prediction: BTC Slips to $78K as Gold and Silver Plummet – Is the Downtrend Settling?
Key Takeaways Bitcoin and traditional safe havens like gold and silver experience synchronized declines in a volatile market…
$30 Million Heist: Step Finance Treasury Wallets Breached
Key Takeaways Step Finance, a prominent Solana-based DeFi platform, faced a significant security breach, losing approximately $30 million…
Bitcoin Price Prediction: $50B Volume Drops 40% as BTC Tests $83K – Is a Breakdown Next?
Key Takeaways: Bitcoin’s trading volume has seen a significant decline, indicating cautious trader behavior. Bitcoin prices remain under…
What Happened in Crypto Today? Solana-Native Rails Launch on Digitap ($TAP) as the Best Crypto to Buy
Key Takeaways Digitap ($TAP) spearheads the transition toward real-world utility in cryptocurrency, offering a seamless financial ecosystem through…
Here’s Why Fed Contender Kevin Warsh is Seen as Bearish for Bitcoin
Key Takeaways Kevin Warsh is a potential nominee for the U.S. Federal Reserve chair, causing concerns due to…
XRP Breaks Below Its 1-Year Support Range: What’s Next?
Key Takeaways XRP has slipped below its critical support range of $1.8 to $2.1, which had been steadfast…
XRP Price Breakdown Intensifies — Can Support Mitigate the Shock?
Key Takeaways XRP has dipped below the significant $1.80 mark, continuing its downtrend. The asset is trading beneath…
XRP Risk-Adjusted Returns Suggest a Period of Consolidation – Insights and Analysis
Key Takeaways: XRP’s recent price fluctuations highlight a lack of strong market momentum for a trend reversal. The…
Kevin Warsh Associated with Crypto Project Basis and Electric Capital
Key Takeaways Kevin Warsh, former U.S. Federal Reserve Board Governor, is associated with crypto initiatives Basis and Electric…
App