Senators Investigate Trump’s $TRUMP Meme Coin Event Amid Corruption Concerns
Democratic senators Elizabeth Warren and Adam Schiff have called for an urgent ethics investigation into former President Donald Trump’s exclusive gala for top investors in his $TRUMP meme coin. The event, scheduled for May 22 at Trump National Golf Club, grants access to Trump for the token’s 220 largest holders—an arrangement lawmakers claim may represent "pay-to-play" corruption.
The controversy underscores increasing scrutiny of cryptocurrency’s role in political influence. While major exchanges do not currently list $TRUMP, the probe could reignite discussions about regulatory oversight for meme coins and celebrity-backed tokens. market analysts note heightened volatility in politically-themed cryptocurrencies following the announcement.
