Bannon and Epshteyn Sued Over Defunct Crypto Token
Steve Bannon and Boris Epshteyn are facing a proposed class action lawsuit in Washington, D.C. federal court over their involvement with a defunct cryptocurrency token called Patriot Pay.
The token was originally called Let's Go Brandon Coin but was rebranded to Patriot Pay. It was marketed as a decentralized alternative to traditional banking, allowing users to avoid 'de-banking' or political retaliation through the financial system.
However, according to the lawsuit, Bannon and Epshteyn secretly acquired control of the project in 2021 from its original creator, using transaction fees from retail investors to finance the takeover.
The complaint alleges that despite holding insider authority over the token's smart contract, fee routing, and key wallets, Bannon and Epshteyn publicly presented themselves as mere 'supporters' and 'advocates' of the project.