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SEC Probed Over Trump Memecoin Allegations of Rug Pull Scheme

Guavy AI Editorial Team
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MEME TRUMP TRU
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U.S. Senators Elizabeth Warren and Richard Blumenthal have called on the Securities and Exchange Commission (SEC) to investigate President Donald Trump's memecoin, TRUMP, for potential illegal scam claims.

The Senators alleged that over a million investors lost $3.81 billion after the coin crashed by 98%, mirroring rug pull patterns.

They claimed that President Trump made $636 million in profits from the memecoin alongside early buyers.

The lawmakers urged the SEC to investigate whether a 'fraudulent scheme' was underway to prevent further extraction from TRUMP holders.

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