US Senators call for SEC investigation into President Trump’s crypto memecoin, accusing him of a “rug pull

JUST IN: 🇺🇸 US Senators call for SEC investigation into President Trump's crypto memecoin, accusing him of a "rug pull."$TRUMP coin is down 95% since launch. pic.twitter.com/9ZW6th4C1I

— Watcher.Guru (@WatcherGuru) August 4, 2026

A group of U.S. Senators has called on the SEC to investigate President Trump's crypto coin

The Senators allege that it may have been part of a "rug pull" scheme

In a letter to SEC Chair Kevin Warsh, the lawmakers requested an investigation into the token's launch, trading… pic.twitter.com/BUE0idpHrV

— That Martini Guy ₿ (@MartiniGuyYT) August 4, 2026

Senators Elizabeth Warren and Richard Blumenthal wrote the SEC on August 3 or 4.
They call the $TRUMP coin a possible illegal scam or soft rug pull.
Nearly one million investors lost a total of 3.81 billion dollars.
Trump himself made about 636 million dollars from the coin.
The token hit a peak market value near 9 billion dollars in January 2025.
It has since fallen about 97 percent and sits under 400 million dollars.
Trump affiliates held most of the supply at launch.
The senators want the SEC to check for fraud or unjust enrichment.

Elizabeth Warren demands SEC investigate if Trump’s memecoin is an illegal scam
https://www.cnn.com/2026/08/04/investing/trump-crypto-sec-memecoin-elizabeth-warren