CNN Analyst Expresses Discomfort with Trump's Cryptocurrency Ventures and VIP Access

CNN analyst Scott Jennings has expressed discomfort with former President Donald Trump's cryptocurrency ventures, particularly the $TRUMP coin and the exclusive events offered to its top investors. Jennings stated that he does not like the idea of Trump's name being used for ventures where people could potentially lose money.

During a discussion on CNN NewsNight, Jennings was pressed by host Abby Phillip about the ethics of the $TRUMP coin, which Phillip described as a "scam coin." The digital currency launched in January of the previous year at approximately $44 per coin, but has since plummeted in value. An initial investment of $10,000 would now be worth less than $700.

Phillip highlighted an announcement regarding a gala for the cryptocurrency's top 185 investors, scheduled to take place at the Trump National Golf Club on November 22. Organizers promoted the event as "the most exclusive dinner in the world," with the top investors receiving "VIP treatment" and access to three unnamed VIPs. The top 29 investors are invited to a VIP reception with their "favorite president," and the top four will receive an 18-karat gold Trump watch.

A disclaimer on the coin's website clarifies that no attendees will have a private meet and greet with the president and that organizers are not accepting gifts. Phillip pointed out that Trump's financial disclosures from 2025 indicated he made over $1 billion in cryptocurrency ventures that year.

Jennings, a former strategist for President George W. Bush, admitted that such ventures make him uncomfortable due to the potential for investors to lose money. He expressed an assumption that Trump's legal counsel is advising him through these arrangements and stressed the importance of transparency.

"My other advice is that all of these arrangements, whether it's this one or anything else, you really, really have to dot all your I's, cross all your T's, and anticipate that every single bit of this is going to be investigated," Jennings said. "Should you lose control of either chamber. And you have to be ready to be fully transparent about that when that day comes."

Phillip pressed further, asking if the situation was "right or wrong," given that a president is in office and allegedly using his position to help himself and his family profit. Jennings reiterated his discomfort, stating, "In something like this, people could get hurt. So, that makes me uncomfortable."

He added that Trump has a "phalanx of lawyers" to guide his actions. However, Phillip and former Biden-Harris communications director Ashley Allison expressed skepticism about whether Trump's team truly considered the implications, with Phillip questioning how a sitting president could engage in such activities so close to a midterm election.

Phillip noted that the Trump family has reportedly made $2.29 billion from crypto, while investors have lost $2.28 billion. Trump's financial disclosures from 2025 show earnings of approximately $635 million from cryptocurrency launches that year. The upcoming gathering is the third such event for the $TRUMP coin, following similar conferences held in April and May of the previous year. Trump and the White House have consistently denied claims of conflicts of interest stemming from his private business dealings.