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Crypto News

Senators urge SEC to probe TRUMP meme coin after 98% plunge

AI Market Summary
US senators Warren and Blumenthal urged the SEC to probe the TRUMP meme coin for potential fraud or improper insider enrichment after a 98% drawdown and $3.81B in reported aggregate investor losses. The request heightens regulatory and enforcement risk around politically linked tokens and may further chill risk appetite in meme"coin trading. The episode also intensifies scrutiny of conflicts'of'interest as the CLARITY Act remains stalled.
Impact level
● Medium
Affected assets
TRUMPSOL/USDT-1.61%
AI Insight · TRUMPSOL/USDTAI Insight
▼ Bearish
Trade now
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Democratic senators Elizabeth Warren and Richard Blumenthal urged the SEC to open a fraud investigation into the TRUMP meme coin after the token fell 98%, saying investors lost $3.81 billion. Blockchain data showed more than 988,000 wallets were in the red. Disclosures reported by U.S. media said Donald Trump earned about $636 million from the meme coin and reported more than $1.4 billion in crypto-related income in 2025. The push comes amid broader U.S. efforts to regulate digital assets and does not involve direct transmission mechanisms to traditional financial assets.
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