[Trump Meme Coin Controversy Escalates: U.S. Senators Urge SEC to Investigate 'Rug Pull' Risks] According to CNN, U.S. Democratic Senators Elizabeth Warren and Richard Blumenthal have called on the Securities and Exchange Commission (SEC) to investigate the Trump-issued meme coin 'TRUMP' to determine whether the project involves fraud or improper profiteering. In a letter to SEC Chairman Paul Atkins, the two senators stated that the Trump meme coin project 'may constitute an illegal scam' and urged the regulatory agency to investigate whether the token is involved in 'illegal fraudulent activities or facilitates improper gains.' Reports indicate that Trump launched his personal meme coin TRUMP just days before his inauguration in 2025. After its launch, the token's price surged, reaching a market cap peak of approximately $9 billion on January 19, 2025, but subsequently experienced a significant decline.