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.

Trump’s meme coin, $TRUMP, and Melania Trump’s coin, $MELANIA, plunged as the news agitated markets worldwide, according to Axios. $TRUMP — unveiled days before his inauguration — saw its value drop by 18% just over the last day. It's now down to $17.50 per token, compared to a peak of $72.62 the day before his swearing-in.

Cryptocurrency prices took a hit from the prospect of a trade war between the U.S. and its major trading partners, with some well-known digital assets and President Donald Trump's own meme coin taking big hits.