1789 Capital’s ‘Treasury A.I. Summit’ Sparks Ethics Outcry Over Transparency and Conflicts
Ethics experts condemn 1789 Capital's promotion of a falsely billed 'U.S. Treasury A.I. Summit,' raising conflict-of-interest and transparency concerns.
Ethics experts and watchdogs are raising alarms after a private investment firm tied to Trump allies promoted an event called the “Inaugural U.S. Treasury A.I. Summit” that was presented as if it carried official Treasury sponsorship. According to the Wall Street Journal, 1789 Capital circulated pitches to technology companies suggesting Treasury Secretary Scott Bessent would deliver an address — language that implied the conference was government-endorsed when it was not.
The pitch reportedly offered pay-to-play perks, including VIP cocktail parties and exclusive dinners for donors. When reporters began asking questions, organizers quietly renamed the gathering to “AI Summit on American Prosperity” and removed explicit references to the Treasury, prompting accusations that the event had been marketed differently to different audiences.
Former White House ethics official Norm Eisen sharply criticized the promotion, saying the appearance of an official U.S. Treasury imprimatur being used for the private gain of outside actors poses serious ethical and transparency problems. The episode adds to a growing list of scrutiny around the Trump administration and its allies as they navigate AI policy, private sector influence, and regulatory change.
The timing of the summit has heightened concerns. The Trump administration has emphasized AI as a cornerstone of economic growth and national security, and in July the president unveiled an AI strategy at a private, invite-only summit. That strategy called for establishing an AI export program by Oct. 21 — the same day 1789 Capital scheduled its conference, a coincidence that raised fresh questions about access and agenda-setting between government officials and industry donors.
Backers of the 1789 Fund include prominent conservative donors and political allies, which critics say deepens the risk of perceived conflicts of interest. The controversy follows other ethics flashpoints tied to the Trump family, from cryptocurrency entanglements to acceptance of expensive gifts, leading critics and some supporters to call for clearer rules and greater transparency.
As AI policy decisions increasingly intersect with private-sector influence, watchdogs say stronger safeguards are needed to prevent the blurring of official government activity and private fundraising. Whether this episode prompts formal investigations or policy clarifications, it underscores the high stakes of transparency and ethics in the rapidly evolving field of AI governance.