US Senators Request SEC Investigation into Trump Meme Coin TRUMP for Fraud and Improper Profit Risks
2026-08-04 09:28
Odaily News: U.S. Democratic Senators Elizabeth Warren and Richard Blumenthal have asked the U.S. Securities and Exchange Commission (SEC) to investigate the Trump-issued Meme coin TRUMP to determine whether the project involves fraud or improper profits. In a letter to SEC Chairman Paul Atkins, the two senators stated that the Trump Meme coin project "may constitute an illegal scheme" and asked regulators to investigate whether the token involves "illegal fraudulent conduct or facilitates improper gains." According to reports, Trump launched his personal Meme coin TRUMP just days before his inauguration in 2025. After its launch, the token's price initially rose, reaching a market capitalization peak of approximately $9 billion on January 19, 2025, before subsequently declining.
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