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Senators Demand SEC Probe of $TRUMP Coin | Bitcoin and Crypto News
Description
Senators Warren and Blumenthal are demanding the SEC investigate the $TRUMP memecoin, which has wiped out nearly $3.8 billion for a million investors—while President Trump reportedly profited over $636 million. As the Clarity Act stalls over a contentious ethics provision blocking officials from crypto involvement, the White House remains silent. The SEC claims memecoins are beyond its scope, but the senators argue it must act to protect investors from massive losses. The token’s value crashed from $46 to $1.47, with fleeting spikes tied to Trump appearances. Without resolving the ethics clause, the bill’s future hangs in the balance.
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