Elizabeth Warren, Richard Blumenthal Urge SEC to Investigate Trump Memecoin Over ‘Rug Pull’ Concerns

TLDR

• Elizabeth Warren and Richard Blumenthal asked the SEC to investigate the $TRUMP memecoin.
• The senators raised concerns that the token may have followed a cryptocurrency “rug pull” pattern.
• Reports cited in the letter claim nearly one million investors lost more than $3.8 billion.
• The lawmakers said President Trump earned about $636 million from the $TRUMP token project.
• The SEC request comes as Congress continues debating federal cryptocurrency market structure legislation.

Two senior Democratic senators have asked the U.S. Securities and Exchange Commission to investigate President Donald Trump’s $TRUMP memecoin, arguing that the token’s sharp decline and reported investor losses warrant regulatory scrutiny.

Sen. Elizabeth Warren of Massachusetts and Sen. Richard Blumenthal of Connecticut sent a letter to SEC Chair Paul Atkins requesting an investigation into whether the memecoin facilitated illegal fraud or unjust enrichment. The request comes as lawmakers continue debating federal cryptocurrency legislation and investor protection measures.

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