EddieJayonCrypto
7 May 25
Former UK Minister Rory Stewart criticized former President Trump's meme coin, alleging it enables campaign contributions without required financial disclosures and serves as a tool for corruption and influence. On his podcast "The Rest is Politics," Stewart highlighted that the largely unregulated ...
Former UK Minister Rory Stewart has sharply criticized former President Donald Trump's meme coin, alleging it enables campaign contributions without required financial disclosures, describing it as a “disgusting” corruption method.On his podcast "The Rest is Politics," Stewart explained that the lax regulatory environment in the US crypto industry allows influential donors to funnel money to Trump without transparency, thereby impacting his political decisions behind closed doors. A striking example cited was Freight Technologies’ $20 million investment in TRUMP tokens, justified publicly as a business advocacy move, revealing how corporations might use meme coins to exert political influence.Stewart condemned Trump’s crypto ventures for acting as channels through which foreign businessmen can directly transfer funds, potentially securing preferential treatment and legal leniency. High donors reportedly pay millions for private dinners or meetings, akin to pay-for-access schemes, with top TRUMP token holders offered exclusive dinners and VIP White House tours.Legal experts, including former White House ethics lawyer Richard Painter, observe that while these activities currently skirt securities laws and emoluments clauses—owing to meme coins not classified as securities—broken promises could invite fraud charges. Stewart emphasized that Trump’s suspension of key US laws intended to prevent foreign influence and corruption intensifies fears over unregulated political financing via digital assets.This case spotlights the pressing need for clearer regulations and increased transparency in political campaign financing amid the rise of crypto-assets, especially unconventional instruments like meme coins. How policymakers respond to close these loopholes could shape the future integrity of democratic processes in the digital age.