Use of the presidential seal “in a manner reasonably calculated to convey a false impression of sponsorship of approval by the government” is prohibited by federal law, with violations punishable by a fine or up to six months in jail.

Trump spoke to the top 220 investors of his memecoin at his Virginia golf club after flying there from the White House on a military helicopter.

“The past administration made your lives miserable,” Trump told the attendees, referring to crypto regulations under Biden, according to The New York Times, adding, “we’re honored to be working on helping everybody here.”

White House Press Secretary Karoline Leavitt rejected conflict-of-interest concerns about the dinner, telling reporters Thursday when asked if the administration would release the guest list that “the president is attending it in his personal time, it is not a White House dinner, it’s not taking place here at the White House.”