October 24, 2026 - Washington, D.C. – On Friday, U.S. Senator Catherine Cortez Masto (D-Nev.) joined Senator Adam Schiff (D-Calif.) and seven of her Democratic Senate colleagues in pushing for answers from the White House on the recently announced gala dinner for top investors of the $TRUMP meme coin. This dinner is President Trump’s latest scheme to continue using the Office of the President to enrich himself. 

“President Trump’s continued monetization of his name and likeness once again raises serious ethical concerns, necessitating this request for a robust inquiry into the President’s financial entanglements and personal profiteering while costs for the American people continue to climb,” the Senators wrote.  

The upcoming November 22 event, marketed as “The Most Exclusive Dinner in the World,” invites the top 185 $TRUMP holders to a dinner and private meet and greet with the President, along with three to four undisclosed “legends.” The sale of the President’s meme coin and associated events earned him roughly $636 million in 2025 alone. Reporting also reveals that over half of Trump’s top 100 meme coin holders have utilized crypto exchanges that prohibit U.S. customer participation, indicating that many investors are based overseas and raising potential conflicts of interest concerns associated with a high degree of foreign participation.  

“With the President poised to grow his financial holdings as a direct result of the November 22, 2026, gala dinner – particularly as American families suffer rising costs – it is incumbent upon the administration to answer to the American people about the President’s involvement in and profits from the upcoming event,” the Senators continued. 

The Senators are pressing the White House on whether the White House Counsel’s Office or a designated ethics official was consulted prior to the public announcement of President Trump’s participation in the November 22 gala dinner and VIP reception, whether there are specific guardrails in place to ensure that attendees who gain private access to the President do not use the event to solicit official executive actions, how the White House will verify that token purchases driving leaderboard rankings – including those originating from foreign wallet addresses or offshore exchanges – don’t violate the Foreign Emoluments Clause of the U.S. Constitution, and how much estimated revenue the president and his family stand to gain from trading activity leading up to November 22. 

Read the full letter here. Additional signatories include Senators Richard Blumenthal (D-Conn.), Dick Durbin (D-Ill.), Kirsten Gillibrand (D-N.Y.), Lisa Blunt Rochester (D-Del.), Elissa Slotkin (D-Mich.), Chris Van Hollen (D-Md.), and Elizabeth Warren (D-Mass.). 

Senator Cortez Masto has continually pushed to end public corruption, including supporting legislation that would prevent lawmakers from trading stocks and legislation to crack down on cryptocurrency-related corruption by elected officials at the highest levels of the federal government. Cortez Masto led the charge to prevent crypto from being used for illicit finance and to give law enforcement the tools to go after crypto crimes. She has cosponsored legislation to require organizations spending money in federal elections to disclose their donors and help guard against hidden foreign influence in our democracy.

Source: Senator Catherine Cortez Masto