The Public Citizen organization has filed a complaint with the U.S. Department of Justice (DOJ) and the Office of Government Ethics (OGE), requesting an investigation into former President Donald Trump's promotion of the TRUMP meme Token on social media platforms.
Public Citizen claims that Trump violated the law prohibiting solicitation of campaign contributions by urging users to buy TRUMP just before taking office on January 20, 2025. Bartlett Naylor and Craig Holman, representatives of Public Citizen, emphasized:
"The President did not call for investment or the provision of tangible products, but simply collected money for personal gain, which is a serious violation of public service ethics principles."
A 2012 report from the U.S. Congressional Research Service (CRS) states that the President is allowed to receive donations, but is not allowed to solicit or coerce anyone to donate to him. If the DOJ investigates and determines that Trump actively campaigned for people to buy TRUMP, he may be seen as having abused his power for personal gain.
Public Citizen is concerned that TRUMP could be a tool to help Trump receive foreign funding without oversight. Since the Blockchain does not require Know Your Customer (KYC) verification, it is almost impossible to trace who is buying this Token.
This scenario poses the risk of TRUMP being exploited to circumvent the law, allowing foreign entities to send money directly to Trump, bypassing the traditional financial system and oversight regulations.
Public Citizen warns that without control measures, TRUMP could set a dangerous precedent, allowing foreign capital to flow directly into the accounts of the incumbent President - something unprecedented in U.S. history.
Legally, Trump does not directly own TRUMP, but indirectly controls it through CIC Digital LLC, a subsidiary of The Trump Organization.
