Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.
Senate Minority Leader Sen. Chuck Schumer (D-N.Y.) attacked President Donald Trump’s reported decision to parole family members of Mexican cartel leaders into the United States on Wednesday, implying a potential connection to the Official Trump (CRYPTO: TRUMP) meme coin.
What Happened: In an X post, Schumer said, “Trump is letting cartel family members just come right into our country” as part of an agreement, deeming it a “dangerous” development.
“How much memecoin did Sinaloa have to buy to make this happen?” the senior Democrat leveled a serious accusation against Trump, referring to the $2 billion cryptocurrency.
Trending: Trade crypto futures on Plus500 with up to $200 in bonuses — no wallets, just price speculation and free paper trading to practice different strategies.
Schumer cited an Associated Press report that said the son of Sinaloa Cartel’s notorious drug lord Joaquín “El Chapo” Guzmán, Ovidio Guzman Lopez, who was extradited to the U.S. in 2023, reached an agreement with the administration. Mexico's security chief confirmed Lopez’s family members crossed into the U.S. last week, the report added.
The White House didn’t immediately return Benzinga’s request for comment.
See Also: Grow your IRA or 401(k) with Crypto – unlock the power of alternative investments including a Crypto IRA within your retirement account.
Why It Matters: This controversy comes against the backdrop of Trump’s war on Mexican drug cartels, which he identifies as a threat to national security.
Hours after his inauguration, Trump signed an executive order designating certain international cartels as Foreign Terrorist Organizations and Specially Designated Global Terrorists.
El Chapo was found guilty of several criminal charges and sentenced to life in prison in 2019.
On the other hand, the TRUMP memecoin has sparked political outrage, with Democratic lawmakers accusing Trump of corruption for selling access to himself in exchange for payments made with his meme coin. Trump has refuted claims that he is financially benefiting from the coin.