FX168 Financial News Agency (Asia-Pacific) reports that after 100 days of President Trump's administration, his support rate drops to the lowest for any U.S. president in 80 years due to global panic caused by the "Liberation Day" equivalent tariffs. He announced last week a banquet to meet with holders of the TRUMP official meme coin, but Democratic senators charged that this constitutes an impeachable offense.
On Sunday local time (April 27), a joint poll conducted by ABC News, The Washington Post, and Ipsos Group shows that Trump's support rate after 100 days in office is at 39%, a drop of 6 percentage points from February this year, marking the lowest support rate for any U.S. president in the past 80 years after 100 days in office.
(Source: Washington Post)
Democratic Senator Jon Ossoff from Georgia stated that Trump's invitation to the holders of the TRUMP meme coin constitutes an "impeachable offense." In response to questions, he said, "He is meeting with those who are buying the meme coin and directly enriching him."
(Source: CoinMarketCap)
Ossoff referred to the invitation to the banquet for the top 220 holders of the TRUMP meme coin announced last Wednesday.
He accused that this move is equivalent to "selling access, which in fact amounts to making direct payments to Trump." Therefore, he added, this undoubtedly rises to the level of impeachment, and in fact, this is just one of many crimes.
(Source: Youtube)
In the history of the USA presidency, only three presidents have been impeached by Congress. Trump was impeached twice during his first term, making him the only president to face impeachment twice.
The impeachment process requires the House of Representatives to initiate a formal impeachment inquiry, and if the House Judiciary Committee approves it, the impeachment articles will be submitted to the full House, where a simple majority vote is all that is needed to impeach the president. However, removing the president requires a 2/3 guilty vote in a Senate trial.
Trump was acquitted twice in the Senate trial following impeachment. No president in the USA has ever been removed from office.
Therefore, Ossoff stated that he is working towards securing impeachment votes, but due to the Republican control of the Senate, this task is quite daunting.
According to the official website of the TRUMP meme coin, the top 220 holders of TRUMP meme coin will be invited to attend a dinner with the president on May 22.
This banquet is claimed to be the "most exclusive invitation in the world," and will be held at Trump's private members club in Washington, D.C.
The top 25 holders of the TRUMP meme coin will also receive an "exclusive reception" before the banquet, as well as VIP tour opportunities. The website states that Trump will discuss the "future of Cryptos" at the banquet.
The official Trump meme coin TRUMP, launched on January 17, has about 80% of its supply held by two companies: CIC Digital LLC and Fight Fight Fight LLC. Both companies belong to Trump's Conglomerates.
According to TRUMP tokenomics data, the aforementioned companies associated with Trump provide 10% of the liquidity pool's supply. This means these companies act as market makers, ensuring liquidity and completing trades. For this service, they charge a fee ranging from 0.1% to 10% per transaction based on market demand.
Therefore, the indirect income Trump earns from trading volume far exceeds the price of his meme coin. Nathan van der Heyden, Business Development Director at the crypto company Aragon, stated: "If you have a currency and you control the market making and fees generated, then what you care about is the trading volume and price fluctuations, not the price itself."
In February of this year, Reuters reported that by January 30, entities related to Trump generated fees of 86 million to 0.1 billion USD from trades. Trump's stock peaked at around 75 dollars on January 19, but had since dropped by 64% to around 27 dollars.
This means that companies associated with Trump earned hefty fees, while small traders suffered losses.
Heyden stated: "The visual effect of profiting by selling your own tokens is very bad, while profiting through market making is opaque enough to protect your reputation."
