Catenaa, Friday, February 14, 2025 – Consumer advocacy group Public Citizen has filed a formal complaint urging a federal investigation into former President Donald Trump’s meme coin, alleging ethical and legal violations related to gift solicitation.
Public Citizen submitted the complaint to the Department of Justice and the Office of Government Ethics on Wednesday. Co-president Lisa Gilbert criticized the meme coin, calling it a “major ethical issue.”
The complaint cites Trump’s social media promotions of the “Official Trump Meme,” which urged supporters to send money. Trump reposted promotional content on January 20 and 21, shortly after his inauguration, despite the meme coin website stating it is “not intended to be an investment opportunity or security.”
Public Citizen argues that those purchasing the meme coin receive only a blockchain receipt, akin to a digital donation confirmation, rather than a tangible product. Bartlett Naylor, a financial services advocate at Public Citizen, condemned the effort as a “reprehensible abuse of the presidency” for personal enrichment.
The complaint also raises constitutional concerns over foreign state contributions, noting the difficulty in determining if foreign actors are purchasing the meme coin due to crypto’s anonymous nature.
Calls for investigation follow criticism from crypto analysts and political figures. Anthony Scaramucci, former White House communications director, labeled the endeavor “bad for the industry,” likening it to extreme political corruption. Critics argue the meme coin effectively acts as a “for sale” sign on the White House, facilitating anonymous contributions.
If the probe determines federal law violations, Public Citizen urges authorities to halt the sale of the Trump meme coin and take appropriate legal action. The Department of Justice has yet to respond to the complaint.
