Sen. Chris Murphy (D-CT) is calling out what he sees as a dangerous mix of business and politics under President Donald Trump.
From meme coins to foreign investments, Murphy says Trump is personally profiting while shaping U.S. foreign policy.
In a recent CNN interview, Murphy claimed that Trump’s two newly launched crypto coins now make up a major chunk of his wealth.
“It is estimated that 40% of Trump’s entire net worth today is due to these two crypto coins that he just launched months ago,” Murphy said.
“So this has been maybe the most lucrative venture he has ever endeavored to begin. All of this money is going straight into his pocket. And he is, as we’ve seen, trading favors, trading U.S. policy in order to get paid.”
Murphy also pointed out that unlike campaign contributions, this crypto money goes straight to Trump personally, raising ethical questions. “That is different than a contribution to a campaign that can only be used for political purposes,” he said.
Foreign Business Deals Under the Microscope
Murphy brought up additional concerns during a Senate Foreign Relations Committee hearing on May 20.
He pressed Secretary of State Marco Rubio about foreign investments flowing into Trump-linked businesses, specifically a major investment from the UAE into Liberty Financial.
“The president actively engages in these businesses,” Murphy said.
“He uses his social media to market the businesses being run by his family. Go to his social media feed and you will see him marketing his meme coin.”
Murphy questioned whether these kinds of deals from foreign governments might influence how U.S. policy is made.
A Private Dinner Raises Eyebrows
Murphy also highlighted a private dinner that Trump recently hosted for the top 200 buyers of his meme coin.
“Reports are that half or more of those individuals meeting with him in a VIP reception are foreigners,” he said.
When asked whether the State Department had vetted the attendees or had a list of the foreign individuals who would be meeting the president, Rubio responded, “I don’t. I did not know there was dinner on Thursday night. I’m not sure what you’re referring to.”
Murphy warned this kind of access undermines oversight: “There is clearly a way around the State Department for foreign individuals of significant influence and wealth to be able to directly lobby the president.”
Rubio responded that he wasn’t aware of any wrongdoing and emphasized that Homeland Security handles entry checks.
Social Media Reactions All Over the Map
Reactions online were divided. Some called Trump’s actions corrupt and said he’s enriching himself at the country’s expense.
Others shrugged it off, arguing every president profits from their name, and Trump is just being open about it.
One post read, “In the Trump era, grift is no longer the byproduct of power, it’s the objective.”
Another comment said, “Don’t hate just because he’s playing the game better than the rest of them. Either call out all political corruption or quiet down.”
A third added, “I’m just glad someone’s talking about it. Trump was doing this before even taking office.”
Fact-Checking the Foreign Aid Claim
Murphy also took time to correct a common misconception about U.S. foreign aid.
Responding to a claim that only 12% of aid reaches people in need, he said the figure is misleading. “That is not actually an accurate number,” Murphy explained.
“Most of our aid runs through bigger organizations. The children, those entities are getting 80%, 85% of the aid. We give them directly to recipients on the ground.”
Murphy’s Bigger Concern
In the end, Murphy said his real worry is about national security.
“It stands to reason that that creates a problem for foreign policy and a problem for foreign governments, in which they don’t know what the best way is to get on good terms with the U.S. government and the White House. Is it to do what’s right for America’s national security, or might it also be to do a business deal with the president and the entities he controls?”
For Murphy, it’s not just about ethics, it’s about who really benefits when personal profit meets public power.
IMAGE CREDIT: “Senator Chris Murphy, U.S. Department of Housing and Urban Development” by U.S. Department of Housing and Urban Development, via Flickr. Licensed under U.S. Government Work. Image adjusted for layout.