Treasury Dept.’s renderings of $1 Trump coin draws criticism from lawmakers over ties to TRUMP memecoin
Lawmakers criticized the Treasury Department's proposed $1 Trump coin design due to its connection with the TRUMP memecoin.Summary
The U.S. Treasury Department is developing a $1 coin to commemorate the nation's 250th anniversary, featuring President Trump's likeness on one side. The reverse side depicts him with the slogan "Fight, Fight, Fight," which is the name of the company behind the TRUMP memecoin that Trump is associated with profiting from. Democratic Senator Chris Van Hollen criticized the design during a Senate Banking Committee hearing, calling it "outrageous" and potentially illegal to feature the President's likeness in connection with a coin tied to a cryptocurrency he profits from. Nominee for Mint Director, Paul Hollis, affirmed his commitment to following the law. The hearing also featured Travis Hill, Trump's nominee to lead the FDIC, who discussed the agency's evolving digital assets policy, including moving away from using reputational risk as a supervisory criticism.
(Source：The Block)