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TRUMP Trump's cryptocurrency sparks controversy: Senators ask the SEC to investigate the risk of "withdrawing orders and running"
Recently, U.S. President Donald Trump has frequently made headlines due to his support for Bitcoin and cryptocurrencies. In fact, Trump and his spouse own altcoins named after them, and their family is also involved in cryptocurrency projects.
Although some U.S. Democratic senators who oppose cryptocurrencies have expressed opposition, recently Democratic Senators Elizabeth Warren and Richard Blumenthal have formally written to the U.S. Securities and Exchange Commission (SEC) questioning Donald Trump's Solana network-based memecoin "official Trump (TRUMP)."
According to CNN, senators have sent a letter requesting an investigation into Trump's altcoins, believing that it contains potential market manipulation and may harm investors 'interests.
It was reported that Warren and Blumenthal stated in the letter that Trump should be investigated whether he posed a risk of "withdrawing orders and running away" and provided evidence of the irreversible losses suffered by millions of investors.
There is no sign of withdrawing the order and running away!
As the Trump controversy continues to simmer, blockchain analysis company TRM Labs pointed out that there is currently no conclusive evidence that Trump tokens are specifically designed for the purpose of "withdrawing orders and running away."
However, TRM Labs emphasized that a significant portion of the token supply is concentrated in the hands of insiders or related addresses, a risk factor that needs to be closely watched.
TRM Labs said in its review that while early investors and TRUMP token issuers have made considerable gains, a large number of retail investors who bought later have faced significant losses.
The company pointed out that even if it cannot be classified as "withdrawing orders and running" from a technical perspective, the structure of approximately 1 million retail investors suffering losses may cause more controversy over time.
* This article does not constitute investment advice.
