Public Citizen, a consumer advocacy organization, has called for a federal investigation into whether U.S. President Donald Trump had violated laws around gift solicitation by promoting a meme coin. The organization lodged its complaint with the Department of Justice and the U.

Public Citizen filed the complaint alleging that the President violated the rules around solicitation of gifts by memecoin promotion.

The world of crypto has been going through a period of turmoil. Two of the biggest digital currencies in the crypto world, Bitcoin and Ethereum, have suffered a major decline in their value over the recent past.

A progressive watchdog group is calling for an investigation into whether President Donald Trump’s promotion of a meme coin violated federal law. In a complaint filed on Wednesday, Public Citizen asked the Department of Justice and the Office of Government Ethics to look into Trump’s repost on X in January of a cryptocurrency coin that

The Official Trump token (TRUMP) slid another 6.2% in the past 24 hours, extending its losses since President Donald Trump’s inauguration. The decline follows increased scrutiny over the token’s legality and ethical implications.