A recent complaint filed by government think tank Public Citizen has raised ethics concerns surrounding former President Donald Trump’s promotion of the Official Trump Memecoin (TRUMP). The group has urged the Department of Justice and the US Office of Government Ethics to investigate whether Trump violated federal laws prohibiting government officials from soliciting gifts.
The complaint, filed on Feb. 5, alleges that Trump’s marketing of the memecoin may constitute unlawful gift solicitation under federal statutes. Public Citizen argues that the memecoin, which was launched in January, offers no tangible product or investment opportunity in return for the payments received, making it a potential violation of federal gift regulations.
The website for the memecoin states that it is largely owned by CIC Digital LLC, an affiliate of The Trump Organization, which is controlled by the Donald J. Trump Revocable Trust. The memecoin is described as a commemoration of Trump’s resilience following an assassination attempt in 2024, with the asset being touted as a piece of history rather than an investment.
Public Citizen contends that the memecoin does not constitute a product or service, likening it to a personal donation rather than a traditional purchase. The group argues that individuals purchasing the memecoin are not receiving a tangible product but merely a digital receipt, similar to a donor sending a check and receiving digital confirmation.
In addition to ethics concerns, Public Citizen raised worries about potential foreign influence in the purchase of the memecoin. The group highlighted that foreign entities buying the memecoin could violate the Emoluments Clause of the Constitution, which prohibits federal officials from accepting gifts or payments from foreign governments without congressional approval.
Critics of the initiative, including former White House communications director Anthony Scaramucci, have likened the memecoin to “Idi Amin-level corruption,” while others have dismissed it as a “sh—coin.” Public Citizen has called on the DOJ and OGE to investigate Trump’s actions and recommend appropriate remedies, such as halting memecoin sales and returning funds to buyers.
As of now, the DOJ and OGE have not publicly responded to the complaint, and Trump’s campaign has not issued a statement regarding the allegations. The investigation into the allegations surrounding the Official Trump Memecoin continues, with implications for federal ethics laws and campaign finance regulations.