$TRUMP Memecoin Under Fire: Senators Demand SEC Probe Amid Estimated Losses

U.S. Senators Richard Blumenthal and Elizabeth Warren are calling on the Securities and Exchange Commission (SEC) to investigate the $TRUMP memecoin, citing estimated losses of nearly $3.8 billion affecting over a million investors.

The senators argue that President Trump's recent financial disclosure, which shows he made $636 million from the token, raises questions about how his cryptocurrency profits were generated and whether fraudulent enrichment schemes may be at play.

The request comes as negotiations over the Clarity Act remain unresolved, adding to regulatory uncertainty and compliance risks for the U.S. digital asset industry.