In a curious twist of fate, the non-profit organization known as Public Citizen has taken it upon itself to implore the esteemed US Office of Government Ethics (OGE) and the Department of Justice (DOJ) to delve into the enigmatic world of the TRUMP memecoin. They allege that our dear President Donald Trump may have danced perilously close to the edge of federal law, which, as we all know, forbids the solicitation of gifts by the Commander-in-Chief. Oh, the irony! 🎭
DOJ Asked To Investigate TRUMP Memecoin
On a rather eventful Wednesday, Public Citizen, that noble bastion of consumer advocacy, filed a complaint with the OGE and DOJ, beseeching them to investigate whether President Trump’s enthusiastic endorsement of this digital token might constitute a breach of the law. One can only imagine the fervor with which they penned this missive!
The complaint, a veritable tome of legalese, asserts that federal law is quite particular about payments to government officials, including gifts. While the president may receive gifts, he is strictly prohibited from “soliciting” them. The Code of Federal Regulations (CFR) lists a plethora of exemptions, yet none seem to include the solicitation of purchases for personal gain. How quaint! 📜
According to the ever-watchful Public Citizen, Trump’s enthusiastic promotion of the TRUMP memecoin appears to flout this prohibition. The document notes that our illustrious president was touting his official token both before and after he took up residence in the White House. A true entrepreneur at heart!
On January 17, Trump took to social media, including X and Truth Social, to announce the arrival of the official TRUMP memecoin. His sole post on X about the token was, rather conveniently, reposted on Inauguration Day and shared on Truth Social shortly thereafter. The posts, dripping with enthusiasm, proclaimed:
My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW. Go to http://gettrumpmemes.com — Have Fun!
The complaint further elucidates that the president is the principal owner of this memecoin, with a staggering 80% of the supply nestled comfortably within the arms of CIC Digital LLC, an affiliate of the Trump Organization. Public Citizen, with a flair for the dramatic, adds that this company is “100% owned by the Donald J Trump Revocable Trust.” Oh, the tangled webs we weave! 🕸️
Donald Trump is the “sole beneficiary” of the revocable trust. When asked on the website, “Is this an official Trump product?” the answer is a resounding: “Yes, this is the only Official Trump Meme, by President Donald J. Trump.”
Public Citizen posits that since President Trump is not soliciting money in exchange for an investment or tangible product but rather “soliciting money in exchange for nothing,” he is potentially “asking for a gift that will benefit him personally.” A rather bold move, wouldn’t you say? 😏
Are Politician Tokens A National Security Risk?
The complaint also raises another eyebrow-raising issue: the potential involvement of foreign states. Public Citizen notes the difficulty in discerning whether foreign actors are “gifting the president” by purchasing the memecoin, which could pose a rather significant national security concern. How delightful! 🌍
Ethereum’s very own Vitalik Buterin recently weighed in on this matter in a post on X, suggesting that politician tokens could represent a “risk to democracy.” He warned that they could be transformed into “vehicles for unlimited political bribery, including from foreign nation-states.” A charming thought, indeed!
He elaborated that these tokens can be held in secrecy, allowing for a delightful denial of intention, making them the “perfect” medium for bribery. Public Citizen ominously stated that “the dangers inherent in the Trump meme portend ominously.” Oh, the suspense! 🎭
They concluded that if the president can enrich himself in such a manner, one can only imagine the lengths to which other politicians might go, rendering the prohibition on solicitation and receipt of gifts
Read More
- LUNC PREDICTION. LUNC cryptocurrency
- What is Supermaster V in Marvel Rivals? Ranked Bug Explained
- SWFTC PREDICTION. SWFTC cryptocurrency
- Fantom Price Rebounds As Sonic Chain Hit $100M TVL Milestone
- Here’s the Final Fantasy 7 Rebirth Voice Cast
- BTC PREDICTION. BTC cryptocurrency
- $80M XRP Shorts At Liquidation Risk If Price Crosses This Level
- IMX PREDICTION. IMX cryptocurrency
- Is Hollow Knight: Silksong Finally Coming with the Switch 2 Reveal?
- DOGE Will Never ‘Cost You $1 Billion’ in Future, Dogecoin Team Says
2025-02-07 15:44