Peter Schiff Calls Out 'TRUMP' Coin Gala Invite: 'Hunter Biden Is Already Being Outdone'

Economist Peter Schiff took potshots at the private gala dinner invitation to top holders of Official Trump (CRYPTO: TRUMP) meme coin, equating it to corruption charges against Joe Biden’s son, Hunter Biden.

What Happened: In an X post on Monday, Schiff jabbed Donald Trump Jr., suggesting that he partnered with President Donald Trump’s cryptocurrency donors and insiders to launch “The Executive Branch.”

“Hunter Biden is already being outdone by Donald Trump Jr….”

“For a mere $500,000, members buy exclusive access to Trump’s cabinet, where they can get drinks and tariff exemptions,” Schiff said.

Schiff went a step further, suggesting that Trump Jr. outdid Hunter Biden in malpractice. Notably, Biden was found guilty of federal tax evasion and felony gun charges but received a full and unconditional pardon from his father last year

See Also: Bitcoin Mining Costs Jump To $137,000 Per Coin When Accounting For Non-Cash Expenses: CoinShares

Why It Matters: Schiff’s taunt was most likely aimed at the invitation to the top 220 TRUMP meme coin holders to a private dinner with POTUS, which has sparked charges of corruption.

While Sen. Jon Ossoff (D-Ga.) deemed selling access in exchange for payments an impeachable offense, Sen. Elizabeth Warren (D-Mass.) requested that the U.S. Office of Government Ethics intervene in the matter.

The project, 80% of whose supply is controlled by an affiliate of the Trump Organization, states that TRUMP is not a political initiative or investment opportunity but an expression of support for Trump's ideals.

Interestingly, the team behind the project updated its terms and policies later to indicate that Trump may not attend the gala dinner and that the event may be cancelled or rescheduled at their discretion.

Schiff, on the other hand, has been a vocal critic of Trump’s pro-cryptocurrency policies, claiming that they are a thinly veiled attempt to pay off donors who supported his political campaign last year.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

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