Digital Finance & Tokenization▼2
US Senators Ask SEC to Probe Trump Meme Coin, Citing $3.81 Billion in Losses Across Nearly One Million Wallets
Senators Elizabeth Warren and Richard Blumenthal have asked the US Securities and Exchange Commission to investigate President Trump's meme coin, $TRUMP. The two lawmakers presented estimates showing that from the token's launch in January 2025 through the end of June 2026, roughly 989,000 wallets suffered combined losses of $3.81 billion, and they asserted that Trump earned $636 million in connection with the coin. In their letter, they pointed to signs that the project may have exhibited characteristics of a prolonged soft rug pull, and urged the SEC to investigate from the standpoint of market integrity and investor protection. The request comes as congressional deliberations on the CLARITY Act, which could redefine the federal oversight framework for digital assets, enter a critical phase.