Warren demands investigation into Trump meme coin

Sens. Elizabeth Warren (D-Mass.) and Richard Blumenthal (D-Conn.) sent a letter to the Securities and Exchange Commission (SEC) demanding an investigation into President Trump’s meme coin that they worried could be a “rug pull.”

“Your agency is responsible for promoting integrity, stability, and fairness in our financial markets, and must investigate this matter further to ensure investors and our markets are adequately protected—no matter who, or how powerful, the individuals involved are,” the lawmakers wrote on Monday.

A “rug pull” in cryptocurrency occurs when, after raising assets from the public through the sale of tokens, investors shut the project down or disappear with the raised tokens. The pull can occur over a period of time, which the Senate Democrats allege follows the pattern of the $TRUMP coin.

The coin was launched just prior to Trump’s........

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