Lawmakers Urge Probe Into Trump Meme Coins

Democratic lawmakers, led by Senator Elizabeth Warren and Representative Jake Auchincloss, have formally requested federal regulators to investigate the recently launched meme cryptocurrencies, $TRUMP and $MELANIA, by President Donald Trump and First Lady Melania Trump. The lawmakers raised concerns about potential foreign influence through the purchase of these tokens, highlighting the risk of hostile nations covertly acquiring them, which could lead to untraceable foreign influence over the presidency. They also pointed out the conflict of interest stemming from Trump's significant financial stake in the coins, as his organization reportedly holds 80% of the shares, potentially undermining his ability to regulate the cryptocurrency market effectively. Additionally, they warned of the inherent risks of