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Warren and Blumenthal Urge SEC to Probe Trump's Memecoin for Possible Scam

Guavy AI Editorial Team
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MEME TRUMP TRU
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US Senators Elizabeth Warren and Richard Blumenthal have asked the SEC to investigate President Donald Trump's Official TRUMP memecoin, alleging it may be an 'illegal scam' that harmed investors.

The senators claim nearly one million wallets lost a combined $3.8 billion as the token crashed, with insiders allegedly controlling 80% of supply and gradually selling.

Warren and Blumenthal point to Trump's crypto-related earnings exceeding $1.4 billion in his first year, with the TRUMP token reaching a near $9 billion peak before plummeting more than 97% in value.

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