US Senators Urge SEC to Probe Trump Meme Coin Over Billions in Investor Losses
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Senators Elizabeth Warren and Richard Blumenthal asked SEC Chair Paul Atkins to investigate President Donald Trump’s meme coin, alleging it may have facilitated fraud or unlawful enrichment and urging regulatory scrutiny. Reports say nearly one million retail investors lost more than $3.8 billion from the token between its January 2025 launch and the end of June 2026, highlighting major security, regulatory and market-impact risks for crypto and DeFi adoption.
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US Senators Elizabeth Warren and Richard Blumenthal have sent a letter to SEC Chair Paul Atkins asking the agency to investigate President Donald Trump’s meme coin, arguing it may have facilitated fraud or unlawful enrichment at the expense of retail investors.
The lawmakers cited reports showing that nearly a million investors collectively lost over $3.8 billion on the token between its launch in January 2025, just days before Trump’s inauguration, and the end of June 2026.
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