Topline
House Speaker Mike Johnson, R-La., brushed off concerns Sunday about President Donald Trump’s alleged business conflicts in office and recent dinner with top investors in his meme coin, claiming Republicans don’t have to investigate the president’s business dealings like they did for former President Joe Biden because Trump does everything “out in the open.”
Speaker of the House Mike Johnson, R-La., (R) and President Donald Trump speak on May 20 in … More
Key Facts
Johnson was asked on CNN about Trump’s crypto dinner Thursday, which has raised concerns about transparency—as the guest list remains under wraps—and about presenting a possible conflict, as attendees could intentionally invest in Trump’s meme coin and attend the dinner in an effort to wield influence with the president on crypto policy.
The House speaker claimed he “[didn’t] know anything” about the dinner but defended the president, saying Trump is “very active, very engaged … he’s one of the greatest dealmakers of all time.”
CNN host Jake Tapper noted he had a “difficult time” believing Johnson wouldn’t be “outraged” if a Democratic president had held a similar dinner, pressing the House speaker about his lack of interest in Trump’s business dealings after Johnson and his colleagues previously led investigations into Biden’s son Hunter Biden and the family’s alleged business conflicts.
Johnson alleged the former president and Hunter Biden kept their alleged dealings under wraps and used “fake LLCs” while the former president’s family profited by being “on the president’s dole,” though House investigations uncovered no evidence of Biden doing anything wrong.
The House speaker claimed Trump, by contrast, is doing everything “out in the open” regarding his business, claiming he’s “putting it out there, so everyone can evaluate for themselves” and alleging Trump “is the most transparent president in history” and “has nothing to hide.”
What Happened At Trump’s Crypto Dinner?
Trump invited the top 220 investors in his $TRUMP meme coin to the dinner, which was held Thursday at Trump National Golf Club near Washington, D.C. The top 25 investors were also invited to a special pre-dinner and tour. Trump reportedly attended the event only briefly, according to attendees, delivering an address in which he told guests, “I always put the country way ahead of the business …You become president of the United States, and you want to see people thrive and succeed.” “The Biden Administration persecuted crypto innovators and we’re bringing them back into the USA where they belong,” Trump added, according to a video of the event cited by Reuters. While the White House has maintained the dinner was a private event outside the scope of Trump’s presidential duties, his podium during the address featured the presidential seal—which could violate federal laws forbidding the seal being used to “convey a false impression of sponsorship of approval by the government.” The event’s guest list has not been publicly released, but reported attendees included billionaire Chinese crypto investor Justin Sun, retired NBA player Lamar Odom, BitMart crypto exchange founder Sheldon Zia, 25-year-old marketing director Nick Pinto and a crypto security specialist who goes only by the name of Ogle. More than half the dinner’s attendees are believed to be based outside the U.S., according to a blockchain analysis cited by Reuters, raising concerns from Democrats about possible foreign influence on the president. Crypto intelligence firm Inca Digital estimates attendees invested a combined $148 million on the $TRUMP token in order to attend the event.
News Peg
In addition to Trump’s meme coin dinner, Johnson’s comments also come days after the Trump Organization broke ground on a new $1.5 billion golf club in Vietnam. The business deal has come under scrutiny as the Vietnamese government simultaneously seeks to reach a trade deal with the Trump administration, as the country hopes Trump will lower his punishing tariffs on goods from the manufacturing-focused country. Vietnamese officials fast-tracked the Trump deal and ignored its traditional laws and processes in order to get the property approved, The New York Times reports—with the government noting in a letter the project was “receiving special attention from the Trump administration and President Donald Trump personally.”
Contra
While Johnson claimed Trump is doing everything “out in the open,” the president has faced numerous concerns about the transparency of his businesses. He was convicted on 34 felony counts of falsifying business records connected to hush money payments made to adult film star Stormy Daniels, which were labeled as being for legal services and processed through the Trump Organization, and was separately found liable for fraud in connection with misstating the value of his assets on business records. Trump has denied any wrongdoing and pleaded not guilty to the charges against him, and he is in the process of appealing the fraud ruling.
Key Background
Trump, a billionaire and famed businessman, has long drawn scrutiny for his business ties and how they could conflict with the presidency. While Trump’s sons Eric Trump and Donald Trump Jr. took over the Trump Organization from their father prior to his first term, the president has never formally divested from the company, and the Trump Organization has suggested in recent filings that Trump still has control over his business assets. Though conflict of interest criticism during Trump’s first term was largely dominated by concerns over the Trump Organization and the president’s real estate empire—particularly his Washington, D.C., hotel, which the Trumps have since sold—his potential conflicts have a far broader scope in his second term. In addition to the $TRUMP meme coin, Trump has also drawn scrutiny for his Trump Media and Technology Group, which runs Truth Social and has ballooned the president’s net worth as supporters buy the company’s stock. Trump has also openly hawked a slew of Trump-branded merchandise that allow the president to profit off his personal brand, which includes a range of products spanning everything from watches and perfumes to signed guitars.
Further Reading
Source: https://www.forbes.com/sites/alisondurkee/2025/05/25/mike-johnson-doesnt-care-about-trumps-business-conflicts-crypto-dinner-because-theyre-out-in-the-open/
