TRUMP Memecoin Under Senate Scrutiny Amid Corruption Probe

The TRUMP memecoin, associated with former President Donald Trump, is facing a Senate subcommittee investigation into potential corruption and foreign influence. Launched in January 2025 by Fight Fight Fight LLC, the token’s volatile price action and promotional campaigns—including a "Dinner with Trump" price surge—have attracted regulatory scrutiny.

Lawmakers are examining insider trading allegations and foreign connections, with particular focus on Justin Sun’s substantial $TRUMP holdings. The Senate has subpoenaed records documenting $350 million in revenue amid concerns about conflicts of interest and potential federal violations.

This investigation underscores increasing regulatory focus on politically linked cryptocurrencies, raising questions about market stability and investor trust.