Massachusetts Democrats ask regulators to open Trump meme coins probe

Source: The Hill

01/23/25 7:58 PM ET


Two Massachusetts Democrats sent a letter to various regulators asking them to open an investigation into President Trump’s and first lady Melania Trump’s recently launched meme coins.

The letter, signed by Sen. Elizabeth Warren (D-Mass.) and Rep. Jake Auchincloss (D-Mass.), was sent to the Office of Government Ethics, the Department of the Treasury, the Securities and Exchange Commission and the Commodity Futures Trading Commission.

The letter asks the regulators how they plan to address the “unprecedented concerns” posed by the meme coins launched last week. “We write with deep concern about the decision by President Trump and First Lady Melania Trump to launch two meme coins, $TRUMP and $MELANIA, that allow them to earn extraordinary profits off his Presidency,” the lawmakers wrote.

During a press conference Tuesday, his first full day back in the White House, Trump was asked by a reporter if he intends to continue creating products that benefit himself, like the meme coin. The reporter informed the president that he made several billion dollars over the last few days because of the crypto coin. The president shrugged off the sum of money.

Read more: https://thehill.com/homenews/administration/5104154-massachusetts-democrats-ask-regulators-to-open-trump-meme-coins-probe/