US Senator sends letter to SEC requesting investigation into Trump's TRUMP token issuance

According to CNN, US Senators Elizabeth Warren and Richard Blumenthal have sent a letter to SEC Chairman Paul Atkins, requesting an investigation into whether Trump's Meme coin TRUMP carries fraud and undue profit risks. Trump launched TRUMP before his inauguration in 2025, and the token experienced a significant decline after reaching a peak market value of approximately $9 billion on January 19, 2025.