{"id":2399940,"date":"2025-02-06T18:58:00","date_gmt":"2025-02-06T23:58:00","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trump-meme-coin-draws-demand-for-investigation-washington-examiner\/"},"modified":"2025-02-06T18:59:38","modified_gmt":"2025-02-06T23:59:38","slug":"trump-meme-coin-draws-demand-for-investigation-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trump-meme-coin-draws-demand-for-investigation-washington-examiner\/","title":{"rendered":"Trump meme coin draws demand for investigation &#8211; Washington Examiner"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ftrump-meme-coin-draws-demand-for-investigation-washington-examiner%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2399940&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>A progressive \u2064watchdog group, Public Citizen, has called for an\u2064 examination into \u2064former \u2063President Donald Trump regarding his promotion\u2064 of a cryptocurrency known as a &#8220;meme coin.&#8221; \u200cThe complaint, filed to \u2064the Department of \u200bJustice and the Office of Government Ethics, alleges that Trump&#8217;s endorsement of the\u200d coin on social media may\u2064 <a href=\"https:\/\/amzn.to\/3YuVZYV\">violate \u200cfederal laws prohibiting presidents<\/a> from soliciting gifts. The\u2063 coin, named $TRUMP, \u200cwas launched just before Trump took office, and its value is driven by market\u200d speculation rather \u200cthan intrinsic value. The institution claims Trump could be enriching\u2064 himself through this venture, which raises concerns about potential foreign \u2062influence on the presidency as the coins can be \u200dpurchased anonymously. Public Citizen is urging an investigation into these\u200c allegations,especially in light of concerns about possible foreign gifts \u200dand the \u200cbroader implications for government \u2062ethical standards.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">Trump meme coin draws demand for investigation from progressive watchdog<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_1979240\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>A progressive <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/watchdog\/\" target=\"_blank\" rel=\"noopener\" title=\"\">watchdog<\/a> group is calling for an investigation into whether President Donald Trump&rsquo;s promotion of a <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/3304560\/trump-meme-coin-what-it-means-crypto-industry\/\" target=\"_blank\" rel=\"noopener\" title=\"\">meme coin<\/a> violated federal law.<\/p>\n<div class=\"article-paywall\">\n<p>In a complaint filed on Wednesday, Public Citizen asked the Department of Justice and the Office of Government Ethics to look into Trump&rsquo;s <a href=\"https:\/\/x.com\/realDonaldTrump\/status\/1880446012168249386\" target=\"_blank\" rel=\"noopener\" title=\"\">repost<\/a> on X in January of a cryptocurrency coin that he launched <a href=\"https:\/\/gettrumpmemes.com\/#Fight-facts\" target=\"_blank\" rel=\"noopener\" title=\"\">and<\/a> owns. Federal law <a href=\"https:\/\/www.ecfr.gov\/current\/title-5\/chapter-XVI\/subchapter-B\/part-2635\/subpart-B\/section-2635.204#p-2635.204(j)\" target=\"_blank\" rel=\"noopener\" title=\"\">prohibits<\/a> the president from soliciting gifts, the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/antifa-blm-vandalize-ice-building-burn-original-starbucks\/\" title=\"Antifa, BLM vandalize ICE building, burn original Starbucks\">left-wing group<\/a> said.<\/p>\n<p>&ldquo;The dangers inherent in the Trump meme portend ominously,&rdquo; Public Citizen&rsquo;s Bartlett Naylor and Craig Holman wrote in the complaint. &ldquo;Should the president be allowed to enrich himself in this way, other politicians might follow this path, rendering the prohibition on solicitation in 18 U.S.C. &sect; 201 and the prohibitions on receipt of gifts by officials other than the president virtually meaningless.&rdquo;<\/p>\n<p>Trump&rsquo;s meme coin, called $TRUMP, was launched days before his inauguration. Meme coins have no intrinsic value and fluctuate their value based on speculation in the market. An affiliate of the Trump Organization called CIC Digital owns 80% of the coins.<\/p>\n<p>As small traders lost money on the meme coin, entities behind it raked in around $100 million in trading fees, <em>Reuters<\/em> <a href=\"https:\/\/www.reuters.com\/markets\/currencies\/trumps-meme-coin-made-nearly-100-million-trading-fees-small-traders-lost-money-2025-02-03\/\" target=\"_blank\" rel=\"noopener\" title=\"\">reported<\/a>. Democratic lawmakers and ethics experts have raised concerns over the meme coin launch, claiming it gave the appearance of Trump cashing in on his presidency. Sen. Elizabeth Warren (R-MA) wrote a <a href=\"https:\/\/abcnews.go.com\/Politics\/trump-crypto-meme-coin-deep-concern-dem-lawmakers\/story?id=118048029\" target=\"_blank\" rel=\"noopener\" title=\"\">letter<\/a> to the Office of Government Ethics remarking that &ldquo;the leaders of hostile nations&rdquo; could buy the coin, &ldquo;raising the specter of uninhibited and untraceable foreign influence over the President of the United States.&rdquo;<\/p>\n<p>The meme coins &ldquo;are not intended to be, or to be the subject of, an investment opportunity, investment contract, or security of any type,&rdquo; according to a <a href=\"https:\/\/gettrumpmemes.com\/#Fight-facts\" target=\"_blank\" rel=\"noopener\" title=\"\">description<\/a> on the meme website. <\/p>\n<p>&ldquo;Accordingly, a person sending money for a Trump meme is not purchasing a tangible product,&rdquo; Public Citizen said in the complaint. &ldquo;Instead, the person receives only a digital receipt (in a blockchain), which is similar to a donor sending a check and receiving digital confirmation that the check was received.&rdquo;<\/p>\n<p>Therefore, the watchdog said, Trump appears to be soliciting funds for &ldquo;a gift that will benefit him personally.&rdquo;<\/p>\n<p>&ldquo;Beyond the issue of solicitation, the Constitution (Article 1, Section 9) forbids accepting money (specifically a &lsquo;present&rsquo; or &rsquo;emolument&rsquo;) or anything of value from any &lsquo;king, prince, or foreign state,&#8217;&rdquo; the complaint said. &ldquo;Because of the nature of a cryptocurrency exchange, it is difficult to know whether <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/senators-seek-remedies-to-health-systems-cyber-threats-after-health-data-breach\/\" title=\"Senators Seek Remedies to Health Systems Cyber Threats After Health Data Breach\">foreign state actors<\/a> are gifting the president by way of purchasing a Trump meme. We urge you to investigate this issue, as well.&rdquo;<\/p>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\/\"><strong><\/strong><\/a><\/p>\n<p>The White House did not respond to a request for comment, nor did the Justice Department.<\/p>\n<p>The Office of Government Ethics declined to comment. <\/p>\n<\/div>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_1979240\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"1979240\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Progressive watchdog seeks probe into Trump&#8217;s meme coin promotion<\/p>\n","protected":false},"author":381,"featured_media":2399941,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2025\/02\/AP25034641804565.webp","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[12577,3976,44944,3634,32076],"class_list":["post-2399940","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-cryptocurrency","tag-investigation","tag-meme-coin","tag-trump","tag-washington-examiner"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2025\/02\/AP25034641804565.webp","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2399940","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/381"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2399940"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2399940\/revisions"}],"predecessor-version":[{"id":2399944,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2399940\/revisions\/2399944"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2399941"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2399940"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2399940"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2399940"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}