🔴 TRUMP “SPIED” BY THE SEC IN A MEMECOIN INVESTIGATION INVOLVING DONALD TRUMP?
Two U.S. Senators, Elizabeth Warren and Richard Blumenthal, have just sent a letter requesting that the SEC review the $TRUMP memecoin project, alleging signs of market manipulation and that it benefits an internal group.
According to the letter, nearly 1 million investors are believed to have suffered losses of more than $3.81 billion. Meanwhile, parties associated with the project are said to have collected about $636 million, and some investors who joined very early reportedly cashed out around $109 million in just 2 days.
The point of contention is that companies linked to the Trump Organization and Fight Fight Fight hold about 80% of the total supply of $TRUMP, while also benefiting from the token’s transaction fees.
The two senators believe this model may show signs of a “soft rug pull”—not a single, clean exit, but rather extracting value from the project over time while still maintaining expectations to keep new money flowing in. Currently, the price of $TRUMP is down nearly 98% from its peak.
However, the SEC has not yet confirmed whether it has opened an official investigation. In addition, TRM Labs has said that $TRUMP does not meet the indicators of a rug pull in the traditional sense.
An interesting detail: the current SEC Chair is Paul Atkins—who was nominated for the role by Donald Trump.
Two U.S. Senators, Elizabeth Warren and Richard Blumenthal, have just sent a letter requesting that the SEC review the $TRUMP memecoin project, alleging signs of market manipulation and that it benefits an internal group.
According to the letter, nearly 1 million investors are believed to have suffered losses of more than $3.81 billion. Meanwhile, parties associated with the project are said to have collected about $636 million, and some investors who joined very early reportedly cashed out around $109 million in just 2 days.
The point of contention is that companies linked to the Trump Organization and Fight Fight Fight hold about 80% of the total supply of $TRUMP, while also benefiting from the token’s transaction fees.
The two senators believe this model may show signs of a “soft rug pull”—not a single, clean exit, but rather extracting value from the project over time while still maintaining expectations to keep new money flowing in. Currently, the price of $TRUMP is down nearly 98% from its peak.
However, the SEC has not yet confirmed whether it has opened an official investigation. In addition, TRM Labs has said that $TRUMP does not meet the indicators of a rug pull in the traditional sense.
An interesting detail: the current SEC Chair is Paul Atkins—who was nominated for the role by Donald Trump.