US Senators Demand SEC Investigation into Trump Meme Coin TRUMP Over Fraud and Improper Profit Risks

Odaily Planet Daily News U.S. Democratic Senators Elizabeth Warren and Richard Blumenthal have asked the U.S. Securities and Exchange Commission (SEC) to investigate Trump's meme coin TRUMP to determine whether the project involves fraud or improper profit-taking. In a letter to SEC Chairman Paul Atkins, the two senators stated that the Trump meme coin project "may constitute an illegal scheme" and demanded that regulators investigate whether the token engages in "unlawful fraudulent conduct or facilitates improper gain." According to reports, Trump launched his personal meme coin TRUMP just days before his inauguration in 2025. The token's price surged after listing, reaching a peak market capitalization of approximately $9 billion on January 19, 2025, before subsequently declining.