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International Business Times

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Trump's Memecoin May Be An 'Illegal Scam,' Sen. Warren Warns. She Wants The SEC To Investigate

SEC Donald Trump Eric Trump Elizabeth Warren Richard Blumenthal Paul Atkins TRM Labs CNN Crypto Democratic Party

In a letter sent to Securities and Exchange Commission Chair Paul Atkins, senators called on the agency to examine Trump's namesake token for evidence of fraud, market manipulation or unjust enrichment. (Credit: Creative Commons)

Democratic Sens. Elizabeth Warren and Richard Blumenthal are demanding a federal investigation into President Donald Trump's memecoin, warning that the cryptocurrency may have been used to enrich insiders while hundreds of thousands of buyers suffered steep losses.

In a letter sent to Securities and Exchange Commission Chair Paul Atkins, the senators called on the agency to examine Trump's namesake token for evidence of fraud, market manipulation or unjust enrichment.

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