Democratic Sens.
Elizabeth Warren and Richard Blumenthal are calling on the U.S.
Securities and Exchange Commission to investigate President Donald Trump's memecoin.
In a letter sent Monday to SEC Chair Paul Atkins, the senators pointed to reports that nearly 1 million crypto wallets have lost money since the launch of Trump's memecoin (TRUMP) in January 2025, with combined losses totaling about $3.81 billion.
They accused Trump of being involved in a "rug pull" and called on the agency to determine whether securities laws had been violated.
