Two U.S. senators have called on the SEC to investigate the Trump memecoin following reports that nearly one million investors lost $3.81 billion while Trump-affiliated entities gained $636 million. The token, which fell about 98% from its peak, has raised concerns about possible fraud and unjust enrichment. This request comes amid ongoing congressional debates over broader cryptocurrency regulations, with senators emphasizing the need to protect investors from risky, speculative tokens like memecoins. The SEC's investigation could influence future regulatory approaches to politically connected cryptocurrencies.
Senators Elizabeth Warren and Richard Blumenthal have asked the SEC to investigate whether the TRUMP meme coin involved fraud or improper enrichment after its value plummeted 98% from over $73 to about $1.47. Nearly 989,000 wallets lost a combined $3...
Trump Media-linked wallets transferred 2,628 Bitcoin (BTC), worth about $165 million, to Crypto.com on August 2, 2026. Although on-chain analysts suggest this transfer indicates another sale, neither Trump Media nor SEC filings have confirmed an actu...
