Odaily Planet Daily reports that U.S. Democratic Senators Elizabeth Warren and Richard Blumenthal have requested the U.S. Securities and Exchange Commission (SEC) to investigate Trump’s Meme coin TRUMP to determine whether the project involves fraud or improper gains. In a letter to SEC Chair Paul Atkins, they stated that Trump’s Meme coin project “may constitute an illegal scam” and urged the regulator to investigate whether the token engages in “illegal fraudulent activity or facilitates improper gains.” According to reports, Trump launched his personal Meme coin TRUMP just days before his 2025 inauguration. After its launch, the token’s price surged, reaching a peak market capitalization of approximately $90 billion on January 19, 2025, before subsequently declining.
U.S. Senators Request SEC Investigation into Trump's Meme Coin TRUMP for Fraud and Improper Gains
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Summary
U.S. Senators Elizabeth Warren and Richard Blumenthal have asked the SEC to investigate Trump’s meme coin TRUMP for fraud and improper gains. In a letter to SEC Chair Paul Atkins, they labeled the project an “illegal scheme” and urged an investigation into potential violations. Trump launched the token ahead of his 2025 inauguration, and its price surged to a $9 billion market cap before declining. Altcoins to watch remain under scrutiny as the Fear & Greed Index shows mixed signals.
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