Senators Urge SEC to Probe Trump’s $TRUMP Memecoin Over Alleged ‘Rug Pull’

TL;DR

• Elizabeth Warren and Richard Blumenthal asked the SEC to investigate whether $TRUMP illegally facilitated fraud, unjust enrichment or a gradual “soft rug pull.”
• The token fell from a $9 billion peak to below $400 million, while almost one million investors collectively lost roughly $3.8 billion overall.
• TRM Labs disputes the rug-pull label, and SEC guidance excluding memecoins from securities now creates uncertainty over whether the agency has jurisdiction to act.

Democratic senators Elizabeth Warren and Richard Blumenthal have asked the Securities and Exchange Commission to investigate whether President Donald Trump’s $TRUMP memecoin facilitated illegal fraud or unjust enrichment. Their letter to SEC Chair Paul Atkins describes the project as a possible “soft rug pull,” where support disappears gradually rather than through one sudden collapse. The request places a politically connected token under renewed scrutiny while carefully framing the accusations as questions for regulators to examine. The SEC declined to comment, and the White House referred inquiries to the Trump Organization as pressure grows across Washington.

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