Consumer advocacy organization files complaint over Trump's meme coin

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.S. Office of Government Ethics on Wednesday, and urged the federal agencies to recommend the termination of the sale of the meme coin known as $Trump.

Meme coins are crypto tokens featuring branding or names referencing memes or internet trends. They are usually highly volatile and have scant practical use.Public Citizen has requested a federal investigation into whether President Trump violated gift solicitation laws by promoting the $Trump meme coin, urging the Department of Justice and the U.S. Office of Government Ethics to halt its sale.