Investment
Features
FeesSafety
Academy
More
Pluang+

Senators urge SEC to probe Trump memecoin amid $3.81B investor losses and $636M insider gains

Market News
05 Aug 2026
Blockonomi
View Source
Bearish
Senators urge SEC to probe Trump memecoin amid $3.81B investor losses and $636M insider gains

Senators Elizabeth Warren and Richard Blumenthal have requested the SEC to investigate a Trump-related memecoin, alleging it may be an illegal scam. They claim early buyers, including Trump, profited $636 million while over a million investors lost $3.81 billion as the coin's value plummeted 98%. The senators likened the crash to a rug pull scheme and want regulatory action before more investors suffer losses. This probe comes amid Senate debates on the CLARITY Act, a bill aiming to regulate cryptocurrency, with Democrats pushing for stronger ethics and finance rules before supporting it. The Senate recess on August 6 adds urgency to these decisions.

More News

Zcash (ZEC) surges 2,800% yearly; Grayscale announces 3-for-1 split for Zcash ETF amid strong inflows.

Zcash (ZEC) surges 2,800% yearly; Grayscale announces 3-for-1 split for Zcash ETF amid strong inflows.

Zcash (ZEC), a privacy-focused cryptocurrency, surged to $1,521, marking a 2,800% gain over the past year. Grayscale announced a 3-for-1 forward stock split for its Zcash ETF (ZCSH), effective September 30, to lower the share price and increase liqui...

Market News
Bullish
4 hours ago
Gold and silver prices dip as Fed rate hike strengthens dollar, while easing oil prices ease inflation concerns.

Gold and silver prices dip as Fed rate hike strengthens dollar, while easing oil prices ease inflation concerns.

Gold and silver prices fell last week due to the U.S. Federal Reserve's rate hike, which boosted the U.S. dollar and pressured metals priced in dollars. However, easing oil prices from restored Gulf exports have softened inflation fears, supporting p...

Market News
Neutral
4 hours ago
Bitcoin market cap surpasses Tesla and Samsung, hitting $1.615 trillion after price peaks at $81,914.

Bitcoin market cap surpasses Tesla and Samsung, hitting $1.615 trillion after price peaks at $81,914.

Bitcoin's market capitalization has risen to $1.615 trillion, surpassing Tesla's $1.438 trillion and Samsung's $1.237 trillion, placing it 13th among global assets. This follows Bitcoin's price peak at $81,914 on Saturday after four consecutive days ...

Market News
Bullish
4 hours ago
XRP eyes a strong move to $1.80 if it flips $1.50 resistance into support.

XRP eyes a strong move to $1.80 if it flips $1.50 resistance into support.

XRP is testing the crucial $1.50 resistance level that has capped its price for about 230 days. If XRP manages to turn this resistance into support, it could trigger a strong rally toward $1.80 or higher. This level has repeatedly stopped XRP's advan...

Technical Signals
Bullish
4 hours ago
Bitcoin closes above 50-week moving average for first time since Nov 2025, signaling potential recovery.

Bitcoin closes above 50-week moving average for first time since Nov 2025, signaling potential recovery.

Bitcoin ended the week of September 20, 2026, at $81,159, closing above its 50-week moving average of about $78,788 for the first time since November 2025. This breaks a 45-week streak below this key technical level, sparked by a 6% surge on Septembe...

Technical Signals
Bullish
4 hours ago
banner-footerbanner-footer

Invest & Trade with
#1 Award-Winning Investment Super App