U.S. Senators Elizabeth Warren and Richard Blumenthal have called on the Chair of the U.S. Securities and Exchange Commission (SEC), Paul Atkins, to begin an investigation into the memecoin TRUMP.
In their view, the project may show signs of fraudulent schemes, and U.S. President Donald Trump and related parties could have earned unjustified profits at the expense of retail investors.
In their letter, lawmakers cite media reports stating that, from the token’s launch on January 17, 2025, through the end of June 2026, nearly 1 million investors lost more than $3.81 billion. At the same time, Donald Trump, according to the estimates provided, received about $636 million in income.
In their view, the project may show signs of fraudulent schemes, and U.S. President Donald Trump and related parties could have earned unjustified profits at the expense of retail investors.
In their letter, lawmakers cite media reports stating that, from the token’s launch on January 17, 2025, through the end of June 2026, nearly 1 million investors lost more than $3.81 billion. At the same time, Donald Trump, according to the estimates provided, received about $636 million in income.
