Buyer With Ties to Chinese Communist Party Got V.I.P. Treatment at Trump Crypto Dinner
Context:
He Tianying, a technology executive linked to the Chinese People's Political Consultative Conference, attended a private dinner with President Trump after purchasing a significant amount of Trump's newly launched cryptocurrency, the $TRUMP memecoin. Despite the Trump administration's frequent warnings about Chinese nationals with Communist Party ties, Mr. He gained access to the White House for a tour, raising questions about the administration's inconsistent policies and security checks. The dinner, held at Trump's Virginia golf club, was criticized for blurring the lines between Trump's personal business interests and presidential duties, as it was organized to benefit Trump's family financially. Critics from across the political spectrum expressed concern about monetizing the presidency, as the event allowed top coin buyers, including several international guests, close interactions with Trump. The memecoin venture, co-created by Trump's business partner Bill Zanker, had already generated substantial revenue, further fueling ethical concerns about Trump's financial engagements while in office.
Dive Deeper:
He Tianying, a member of the Chinese People's Political Consultative Conference, was able to attend a private dinner and tour the White House by purchasing $3.7 million worth of Trump's memecoin, despite the administration's stance against Chinese nationals with ties to the Communist Party.
The memecoin, launched just before Trump's inauguration, was marketed as a collectible item, with top buyers promised exclusive access to Trump and a White House tour, leading to criticism over the ethical implications of such events.
The event highlighted inconsistencies in the Trump administration's handling of Chinese nationals, as it coincided with efforts to scrutinize and potentially revoke visas for Chinese students linked to the Communist Party.
The memecoin initiative, organized by Trump's business partner Bill Zanker, raised concerns about the commercialization of the presidency, as it led to significant financial gain for Trump's family, reportedly totaling at least $320 million.
Attendees of the dinner included several international figures, such as Justin Sun, the largest buyer of the memecoin, and other prominent crypto investors, raising questions about the lax security and vetting processes at the event.
The memecoin dinner, while labeled a private event, was criticized for its appearance of intertwining Trump's personal business with his presidential role, further fueled by Trump's shift from crypto skepticism to enthusiastic promotion.
Despite potential national security concerns, the administration allowed the event to proceed, with White House officials downplaying its significance and attributing Trump's involvement to commitments made to his business partner.