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.

Roughly 80% of the coin supply will be distributed to its founders over the course of three years – and that could leave everyday investors holding the bag.

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