TechFlow reported on January 24, according to Decrypt, U.S. Senator Elizabeth Warren and Congressman Jake Auchincloss sent a letter to federal regulators calling for an investigation into the TRUMP and MELANIA meme coins issued on the Solana blockchain.
The letter stated that Trump Organization and its affiliates hold 80% of the TRUMP coin, leaving the remaining 20% of investors exposed to price volatility risks. Warren emphasized that these tokens could be secretly purchased by leaders of adversarial nations, potentially exerting untraceable foreign influence over the U.S. President. Regulators are required to respond by February 4, 2025, addressing issues including ethical standards, trading oversight, and investor protection related to the tokens.
