Watchdog Calls for Probe Into Trump’s Meme Coin

U.S. watchdog group Public Citizen has filed a formal complaint urging a federal investigation into whether President Donald Trump violated gift solicitation laws by allegedly promoting a Solana-based meme token.

The complaint, lodged with the Department of Justice (DOJ) and the Office of Government Ethics (OGE), raises concerns that the meme coin could be used to funnel untraceable foreign payments—a potential violation of the Emoluments Clause.

Public Citizen argues that Trump’s social media activity suggests he used his platform to promote the Official Trump (TRUMP) token after assuming office in January.

The DOJ, OGE, and White House Press Office have not yet responded to requests for comment.

Did Trump Violate Federal Ethics Laws?

In the complaint, Public Citizen officials Bartlett Naylor and Craig Holman claim Trump appears to be soliciting financial gifts in a way that would personally benefit him.

“Trump appears to be soliciting money in exchange for nothing—that is, asking for a gift that will benefit him personally,” they wrote.

The watchdog group cites multiple legal and ethical concerns, arguing that:

• Meme coin payments could disguise foreign financial contributions, potentially violating constitutional restrictions.
• Allowing such practices could set a precedent, normalizing financial exploitation of public office.
• Federal officials should be barred from profiting through crypto solicitations to prevent abuse of power.

“Should the president be allowed to enrich himself in this way, other politicians might follow this path,” the complaint warns.

Who Controls the Trump Meme Coin?

According to the token’s official website, 80% of TRUMP token supply is controlled by CIC Digital LLC, a Trump Organization affiliate held in Trump’s revocable trust—of which he is the sole beneficiary.

Blockchain analysis by Bubblemaps shows the token’s holder distribution, confirming that the largest share aligns with the reported tokenomics model.

Crypto Market Impact and Trade War Fallout

The TRUMP token has plunged 32% in value over the past week, amid a wider crypto downturn and market uncertainty fueled by Trump’s proposed tariffs.

While tariffs on Canada and Mexico have been partially rolled back, a 10% tax on all Chinese imports remains. China responded with retaliatory tariffs, including:

• 15% levy on U.S. coal and LNG
• 10% tariff on crude oil, farm equipment, trucks, and luxury sedans

What Comes Next?

With growing regulatory scrutiny over crypto in politics, the Public Citizen complaint could force a federal review of Trump’s financial ties to the meme coin.

If investigators find evidence of foreign contributions or ethical violations, it could further complicate Trump’s legal landscape—especially as his administration tries to reshape crypto regulations.

For now, the crypto community is watching closely to see whether the SEC, DOJ, or Congress take action against Trump’s digital asset involvement.