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SEC Investigated over Trump's Meme Coin Losses

Guavy AI Editorial Team
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Two US senators have called on the Securities and Exchange Commission (SEC) to investigate President Donald Trump's meme coin, citing concerns it may be a 'rug pull' scheme. The coin, launched in 2025, saw its value soar to $9 billion before plummeting 97% to $364 million.

Senators Elizabeth Warren and Richard Blumenthal wrote a letter to SEC Chairman Paul Atkins expressing their concerns over the massive loss of value for nearly a million investors.

The senators questioned how Trump made his cryptocurrency fortune, including potentially through 'fraudulent enrichment schemes' with implications for market integrity and stability.

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