Bannon, Trump Aide Sued Over Let's Go Brandon Coin Promotion (1)

Steve Bannon and President Donald Trump advisor Boris Epshteyn were hit with a proposed class action alleging they promoted a cryptocurrency as stable and decentralized to investors when they really held centralized authority of its trading.

These Trump allies leveraged their prominence and credibility to lure retail investors into buying a digital token initially called Let’s Go Brandon Coin, later rebranded to Patriot Pay, a purchaser told the US District Court for the District of Columbia in a lawsuit filed Thursday.

“Defendants deliberately targeted a politically aligned and deeply loyal audience—individuals who trusted Defendants’ judgment, motives, and commitment to shared values—and encouraged them to invest in the Token as a means of participating in a broader movement,” the complaint said. “Defendants’ conduct was particularly insidious because it exploited that trust to induce purchases of an unregistered, highly speculative asset under the guise of financial independence and community membership.”

The project’s abrupt shutdown in 2025 suggested the defendants knew of its deficiencies and misrepresentations, Andrew Barr’s suit said. Last February, they “disabled trading, announced the project’s closure, and promised liquidity distributions that did not occur.”



https://news.bloomberglaw.com/securities-law/bannon-trump-aide-sued-over-lets-go-brandon-coin-promotion