Steve Bannon lands in hot legal waters with MAGA memecoin: report

MAGA figurehead Steve Bannon is facing legal jeopardy after an investor in his supposedly "uncancelable" memecoin accused Bannon of fraud in a new lawsuit, according to a report.

The memecoin, which was once called "FJB" or the "Let's Go Brandon" coin, was purchased by Bannon and another MAGA figure, Boris Epshteyn, in 2021 and promoted heavily during the Biden administration. The coin was unique in that it had an 8% transaction fee, but it was justified by claiming that 5% of the fee is donated to charity.