Public Citizen has filed a complaint urging federal authorities to investigate Donald Trump’s promotion of Solana’s TRUMP token.
The watchdog group claims this could violate laws prohibiting gift solicitation and raise concerns about untraceable foreign payments. The token’s ownership structure links it directly to Trump, with 80% held by CIC Digital LLC, an affiliate of the Trump Organization.
The complaint claims that U.S. laws prohibit the solicitation of gifts for government representatives. While gifts can be taken in, solicitation for them is not permissible. The group cites federal laws, including the Emoluments Clause and anti-bribery laws, in its case. Trump’s public acceptance of the token appears to break such a boundary.
Trump’s promotion of the TRUMP token raises legal concerns
Trump promoted the TRUMP token on social media, inviting followers to buy it. On its website, the token is characterized as a badge of his determination. It states that buyers receive nothing but a virtual receipt, no merchandise, and no investment assurance. Others say it is a direct solicitation for financial support and will enrich Trump himself.
Observers within and outside the community have criticized the move. Anthony Scaramucci, a former aide to Trump, denounced it as “Idi Amin-level corruption.” Others have argued that it effectively puts a “for sale” sign over the White House. One columnist for the Washington Post labeled the token a “sh—coin.”
Foreign payment risks highlighted in the complaint
The U.S. Constitution prohibits government officials from taking gifts from foreign nations, a restriction that the suit claims could be broken with this token sale. Public Citizen calls for the Office of Government Ethics and the Department of Justice to act.
Public Citizen wants an investigation into whether Trump’s touting of the token constitutes a violation of federal laws. In case of a finding, Public Citizen requests termination of the token sale and a return of funds.
This case can have a precedent-setting consequence. If Trump’s actions go unchallenged, then political leaders will follow in his path. That can erode laws to prevent leaders from enriching themselves in office. What happens with this complaint can shape future politics and cryptocurrency borders.
