$TRUMP Coin Investigation: Senators Demand SEC Probe

Senators Elizabeth Warren and Richard Blumenthal have sent a letter to the SEC demanding an investigation into President Trump's meme coin, which they believe may be a 'rug pull'.

A rug pull occurs when investors shut down or disappear with the raised tokens after promoting them to the public. The senators claim that Trump's $TRUMP coin follows this pattern, having reached a peak of around $9 billion on January 19, 2025, but now being worth less than $400 million, a decline of 97 percent.

Trump defended his crypto profile in July, stating 'I don't get involved in my personal. We have funds that run my money.' They invest my money. I don't talk to them. I don't even speak to them.'

The senators argue that this is one case that should be investigated due to the sharp depreciation in the coin's value, despite Trump's public statements, and potential fraudulent scheme.