Senator Chris Murphy Accuses President Trump of Running a Backdoor Bribery Scheme with Cryptocurrency

In a scathing post on X, Senator Chris Murphy has accused former President Donald Trump of operating a bribery scheme through the use of his cryptocurrency, dubbed the TRUMP meme coin. Murphy alleges that this digital asset enables CEOs and foreign oligarchs to funnel money to Trump in exchange for political favors, calling it 'the biggest scandal in the history of the Presidency.' The accusation has sparked skepticism online, with critics reminding that blockchain technology ensures transaction transparency, thereby questioning the secrecy of such transactions. Launched in January 2025, the TRUMP meme coin quickly gained popularity, reaching a market capitalization of over $27 billion before experiencing volatility, especially after the introduction of Melania Trump's competing meme coin. Murphy's claims follow a controversial pause on tariffs by Trump, a move that raised eyebrows and caused significant market fluctuations.