Senator Gillibrand Calls for Ban on Trump and Officials Issuing Meme Coins

On July 4, U.S. Senator Kirsten Gillibrand urged Congress to legislate a ban on all elected officials, including the President and their spouses, from issuing or sponsoring digital assets, including meme coins. This call comes in light of recent financial disclosures revealing that Trump is projected to earn approximately $636 million from meme coin issuance in 2025, while his spouse has also issued meme coins and earned around $6 million through NFTs and digital collectibles. Gillibrand stated that such actions constitute 'self-dealing,' undermining financial regulation and consumer protection, and called for immediate ethical reforms to prohibit public officials and their spouses from profiting from their positions.