$TRUMP Memecoin Faces SEC Probe Over Investor Losses
Two U.S. Senators have asked the Securities and Exchange Commission (SEC) to investigate President Trump's memecoin, $TRUMP, after reports of massive investor losses.
The senators, Elizabeth Warren and Richard Blumenthal, sent a letter to SEC Chair Paul Atkins on August 3, 2026, requesting an investigation into whether the coin facilitated illegal fraud or unjust enrichment.
Nearly one million investors reportedly lost over $3.81 billion on the coin from its debut in January 2025 until June 2026, while Trump earned approximately $636 million from it.
The senators expressed concern that the scheme 'may constitute an illegal scam,' citing a report by The New York Times, which stated: 'The odds were always in his favor. Mr. Trump's memecoin profited whether the price of his memecoin went up or down.'