Trump Affiliates Bannon and Epshteyn Named in ‘Let’s Go Brandon’ Crypto Coin Lawsuit
Steve Bannon and Boris Epshteyn are named in a lawsuit alleging they exploited investors through the ‘Let’s Go Brandon’ cryptocurrency.Summary
A class-action lawsuit alleges that Steve Bannon and Boris Epshteyn, both affiliated with Donald Trump, misled investors regarding the ‘Let’s Go Brandon’ cryptocurrency. The lawsuit claims the token was falsely promoted as stable and decentralized while maintaining centralized control, allowing the defendants to exploit their audience’s trust for financial gain. The complaint details how the defendants targeted a politically aligned audience, encouraging investment under the guise of financial independence and community membership.
Similar accusations have been leveled against creators of memecoins launched on Solana and Pump.fun, but the lawsuit emphasizes that the ‘Let’s Go Brandon’ coin was specifically presented as a “serious financial project” with real-world utility, despite alleged securities violations and the ability to freeze user funds. The coin originally launched on Binance Smart Chain.
The timing of the lawsuit is notable given the Trump administration’s recent reversal of crypto policy and concerns raised by House Democrats regarding potential corruption and “pay-to-play” schemes involving crypto figures like Justin Sun and Changpeng Zhao. Furthermore, both Trump and Melania Trump have launched their own memecoins, which have significantly declined in value, adding to the complex regulatory landscape and uncertainty surrounding the CLARITY Act.
(Source：Gizmodo)