In a letter sent to federal regulators on Wednesday, noted crypto-critic Senator Elizabeth Warren and Representative Jake Auchincloss called for an investigation into the Trump and Melania meme coins launched on the Solana blockchain a day before Donald Trump’s second inauguration. 

Warren and Auchincloss raised concerns about potential conflicts of interest, consumer risks, and national security implications of cryptos linked to Trump and First Lady Melania.

“The Trump family-controlled Trump Organization and its affiliates hold 80% of the TRUMP coin, leaving the remaining 20% of investors to bear the cost of coin’s price volatility,” the letter said. 

Last week, then-President-Elect Trump launched the TRUMP meme coin, followed the day before the inauguration by Melania Trump’s Melania Meme coin.

Go to Source to See Full Article
Author: Jason Nelson