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Trump defies ethics warnings with private meme coin dinner

The president hosted a highly anticipated "exclusive" dinner for the largest holders of his meme coin, Official Trump, at his golf club in Virginia on Thursday night.

Why it matters: Fight Fight Fight, LLC β€” a company linked to President Trump's family β€”Β sold a digital token that gave anyone in the world a chance to pay for a night of access to the commander-in-chief.


  • The promotion has stunned ethics experts. One Democrat called it "the biggest corruption scandal in the history of the White House."
  • White House press secretary Karoline Leavitt denied any conflicts of interest but refused to release the list of attendees, telling reporters: "The president is attending it in his personal time. It is not a White House dinner."

Between the lines: Wealthy donors have long used campaign contributions to gain access to elected officials β€” but with key guardrails and oversight.

  • U.S. law bars foreign money and prohibits politicians from using campaign funds for personal gain.

What they're saying: "We've never had a president actually try to raise money and get people to buy an interest in a venture of his at the same time that he's sitting in the White House," Richard Painter, President George W. Bush's ethics lawyer, told Politico.

By the numbers: Inca Digital, a data intelligence firm, estimates that the top 220 holders collectively spent more than $140 million to ensure they got a spot in the meme coin celebration.

  • The most spent was $16.4 million.
  • The contest was announced on April 23 and ran through May 12. To qualify to attend, a wallet owner had to register with Fight Fight Fight, pass a background check, and hold a high enough average amount of Official Trump over the contest period.
  • The token had lost considerable value since its pre-inauguration release, but it's up more than 50% since the dinner was announced.

Between the lines: That price increase has held even after the contest ended, suggesting that holders might expect more perks or access ahead.

The intrigue: Only a few attendees were known ahead of time. Crypto billionaire Justin Sun, who at one point was under investigation by the SEC, is probably the best known.

  • Kain Warwick, an Australian crypto investor and creator of the decentralized finance platform, Synthetix, told the New York Times that he had a spot.
  • So did the meme coin startup MemeCore, which acquired a massive stockpile in order to send someone to the event.

How it works: Other buyers haven't been publicizing their attendance, but blockchain analysis suggested that much of the buying was happening outside the U.S., according to an analysis by Bloomberg.

What we're watching: Fight Fight Fight still controls 80% of the supply of Official Trump, which it can sell off over time.

Man charged with murder in shooting of Israeli Embassy employees

A man was charged with two counts of first-degree murder on Thursday in relation to the fatal shooting of two people outside the Capital Jewish Museum in Washington, D.C., according to a criminal complaint.

The big picture: Elias Rodriguez of Chicago is also facing federal charges that include murder of foreign officials, causing the death of a person through the use of a firearm, and discharge of a firearm during a crime.


Driving the news: The killings of Yaron Lischinsky and Sarah Lynn Milgrim are being investigated as a hate crime and a crime of terrorism, Jeanine Pirro, interim U.S. attorney in Washington, said during a press conference Thursday.

  • Pirro called it "a death penalty-eligible case" but said it's "far too early" to determine whether prosecutors will pursue it.
  • Authorities are executing search warrants for Rodriguez' electronic devices, reviewing his social media accounts and all of his internet postings, FBI officials said during the briefing.

Zoom in: Rodriguez allegedly told an officer at the scene of the shooting that he "did it" and that he was unarmed, according to an affidavit from an FBI agent.

  • The affidavit states that the suspect was captured on security video firing a weapon several times at the two victims before getting closer and "firing several more times."
  • One of the victims attempted to crawl away but the suspect followed behind her and fired again, per the affidavit.
  • A 9-millimeter handgun was recovered from the scene, the affidavit says.

Context: Rodriguez was arrested Wednesday after being apprehended by a museum security guard minutes after the shooting.

  • He is believed to have acted alone, police said.

Editor's note: This is a breaking news story. Please check back for updates.

Hurricane season expected to be above normal, NOAA says

The 2025 Atlantic hurricane season is expected to be above normal, NOAA meteorologists said Thursday in their annual forecast.

Why it matters: The outlook comes as the Trump administration explores downsizing or dismantling FEMA, the federal agency tasked with responding to storms and other natural disasters.


The big picture: This year is likely to have 13 to 19 named storms, with three to five of those being Category 3 hurricanes or stronger, according to National Weather Service director Ken Graham.

  • This season isn't expected to be as active as last year's, he said, but it only takes one takes one storm to hit where you live.
  • Colorado State University's forecast last month lines up with NOAA's β€” "above-normal" activity with 17 named storms, nine hurricanes and four major hurricanes.

Zoom in: In response to questions about staffing cuts, Graham and acting NOAA administrator Laura Grimm told reporters Thursday they are confident in their forecasting ability for the season.

  • Graham also told Axios that NWS this year is seeing the same level of interest in weather briefings from their federal partners, including FEMA, as compared to last year, despite those cutbacks.
  • "We are fully staffed at the Hurricane Center, and we definitely are ready to go," Grimm said.

Zoom out: Michael Brennan, director of the National Hurricane Center, is slated to give his annual congressional briefing Thursday afternoon about hurricane season preparedness.

Meanwhile, U.S. Homeland Security Secretary Kristi Noem earlier this week reiterated the administration's priority to shift FEMA's responsibilities to states.

Between the lines: David Richardson, the current acting head of FEMA as of earlier this month, has no experience managing natural disasters and acknowledged in private meetings that the agency doesn't yet have a fully formed hurricane response plan, the Wall Street Journal reported.

  • "As FEMA transforms to a smaller footprint, the intent for this hurricane season is not well understood," warned an internal review obtained by CNN last week. "Thus FEMA is not ready."
  • Since that leak, FEMA appears to be taking steps to bolster its disaster response efforts, according to CNN.

Threat level: Louisiana, Texas and Florida could face the greatest financial burdens in a world with less federal relief assistance, Axios' Alex Fitzpatrick writes, based on new analysis from the Carnegie Disaster Dollar Database.

  • Louisiana residents also have received the most FEMA direct assistance since 2015, according to Carnegie.
  • Louisiana's congressional delegation expressed concern earlier this month to Axios about the federal government's ability to respond to a large-scale disaster.

The intrigue: NOAA's leadership gave the forecast in Gretna, a suburb of New Orleans, in recognition of the 20th anniversary of Hurricane Katrina's devastation in the region.

How it works: Atlantic hurricane season officially starts June 1, but storms can form any time.

  • NHC began its daily tropical outlook May 15, and so far all has been quiet in the Gulf, Caribbean and Atlantic.
  • Historically, the most active period for strong storms in the Gulf and the Atlantic is August and September.

What's next: Authorities urge residents to prepare now for the season by gathering emergency supplies, preparing their home for storms and making an evacuation plan.

Editor's note: This story has been updated with additional information.

Go deeper:

Bids for Pope Leo XIV's childhood home start at $250,000, but there's a catch

Small brick home with grass in front.
The childhood home of Pope Leo XIV is in Dolton, Illinois.

Photo by Jim Vondruska/Getty Images

  • The owners of Pope Leo XIV's childhood home in Illinois are trying to sell it via private auction.
  • The home was listed for $199,900 before the pope's appointment. Now, bids start at $250,000.
  • The auction winner may not get to enjoy it because the local government wants to acquire the home.

People bidding to buy Pope Leo XIV's modest childhood home in Illinois could face some stiff competition β€” from the local government.

The innocuous three-bedroom, three-bathroom home in the Village of Dolton was thrust into the spotlight when Pope Leo XIV became the leader of the Catholic Church.

The current homeowner purchased the property in May 2024 for $66,000, listed it for $219,000 in January, and dropped the price to $199,900 in February.

After the pope's appointment on May 8, the owner, inundated with offers and new options, delisted the home until last week when it was put up for auction through Paramount Realty USA. The reserve price is $250,000, and potential buyers have until June 18 to bid.

"It's like a collectible car they only made one of," Steve Budzik, the homeowner's real estate agent, told BI earlier this month.

Potential buyers, however, will be going up against the Village of Dolton, which has said through its attorney that it plans to acquire the home either through direct purchase or eminent domain laws. Eminent domain laws allow governments to make private property available for public use.

"If a direct purchase from the seller cannot be negotiated, the Village will cause Eminent Domain proceedings to be filed in Court and take the property through the legal process," Burton S. Odelson wrote in an email to BI. "The Village hopes a direct purchase is completed without court action."

Odelson, who's been in contact with the listing broker, said the Village of Dolton is working with the Chicago Archdiocese to determine the best use of the space.

Although relying on local eminent domain laws is an option, Odelson said it's a last resort. That process involves litigation, which means attorney fees, court costs, appraisal costs, and time.

Under eminent domain laws, the Village of Dolton would have to compensate the owners for the home. Negotiations between the Village of Dolton and the current owner are ongoing.

The hype around Pope Leo XIV's childhood home spurred immediate fanfare, prompting news trucks and curious locals to visit. One woman even told a local news outlet that she made the four-hour drive from Louisville, Kentucky, just to visit the impromptu holy site.

Representatives for Paramount Realty USA and the homeowner did not respond to a request for comment from Business Insider.

Read the original article on Business Insider

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