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.

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

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

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.