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, 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.

It includes an image of him raising his fist in the air and the words "fight, fight, fight" — a reference to his reaction after an assassination attempt last July. The token is marketed as "a piece of history," with Trump described as "the crypto president."

Meme coins have transformed the crypto world, evolving from internet jokes into full-fledged investment opportunities with staggering returns. From viral sensations like Floki Inu and Shiba Inu to unexpected newcomers such as Peanut the Squirrel and Pudgy Penguins,

Prior to 2025, the idea of adding meme coins to a long-term investment portfolio would have sounded absurd. But then something happened in January.

But meme coins are suddenly more serious. Spurred on by Donald Trump's new embrace of cryptocurrency, meme coins are attracting more fans and fresh scrutiny. Days before he took office for a second term,