Post #4377601
2026-08-04 14:33 UTC
Democratic Sens. #ElizabethWarren & #RichardBlumenthal are calling for the Securities & Exchange Commission to investigate #Trump’s #memecoin “to detect any illegal #fraud or unjust enrichment that the coin may have facilitated.”
“We are concerned that President Trump’s memecoin scheme may constitute an #illegal #scam,” Warren & Blumenthal wrote on Monday to #SEC Chair Paul Atkins.
#criminal #law #felon47
https://www.cnn.com/2026/08/04/investing/trump-crypto-sec-memecoin-elizabeth-warren
Replies (2)
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@Nonilex@masto.ai 2026-08-04 14:38
The $TRUMP #cryptocurrency paid huge dividends to #Trump, who promised to be the US’ first #crypto president & received enormous support from the industry. He made nearly $636M in royalty & licensing fees related to “Celebration Coins” last year alone, acc/to his 2025 annual financial disclosure. Flash forward to today: The Trump coin is worth less than $400 million & those who bought in at the top are staring at steep losses of approximately 97%, acc/to crypto analytics platform CoinMarketCap.
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@IzzyChambers@social.vivaldi.net 2026-08-04 15:10
@Nonilex@masto.ai I don't like saying this, but I don't think the Trump cryptocurrency is a security and the SEC's Atkins will simply say that.