Senators Elizabeth Warren and Richard Blumenthal have called on the SEC to investigate the $TRUMP meme coin, alleging that nearly 1 million wallets have suffered combined losses of approximately $3.81 billion since the token launched in January 2025.
The lawmakers claim the project may have operated as a "rug pull" and are urging regulators to examine whether any U.S. securities laws were violated.
The request arrives just before Congress begins its August recess. If the Clarity Act is not passed this year, the SEC is expected to remain the leading regulator for the digital asset industry, even though it has previously stated that meme coins generally do not qualify as securities.
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#ADPJulyPrivatePayrollsMissedExpectations
The lawmakers claim the project may have operated as a "rug pull" and are urging regulators to examine whether any U.S. securities laws were violated.
The request arrives just before Congress begins its August recess. If the Clarity Act is not passed this year, the SEC is expected to remain the leading regulator for the digital asset industry, even though it has previously stated that meme coins generally do not qualify as securities.
$HEI $CTSI
#ADPJulyPrivatePayrollsMissedExpectations