Elizabeth Warren Requests Investigation into Trump’s Meme Coin Tokens
Senator Elizabeth Warren is urging an investigation into President Donald Trump's meme coin, $TRUMP, and associated assets for potential ethical conflicts. Key points include:
- Warren cites concerns about conflict-of-interest risks due to Trump's financial interests in these coins.
- The letter, co-signed by Representative Jake Auchincloss, highlights the rapid increase in Trump’s net worth, reportedly reaching $58 billion.
- $TRUMP token surged from approximately $3 to nearly $37 shortly after its launch.
- Trump's company controls about 80% of the circulating $TRUMP tokens.
- The letter was sent to the Treasury Department, SEC, and CFTC, all led by Trump appointees.
- Concerns were raised about foreign influence and potential scams affecting investors in $TRUMP and Melania's token, $MELANIA.
- Other Democrats have echoed worries regarding Trump's crypto ventures and their implications for governance.
No immediate response has been received from the agencies mentioned regarding the inquiry.