{"id":4904,"date":"2026-08-04T18:43:35","date_gmt":"2026-08-04T18:43:35","guid":{"rendered":"https:\/\/nationwideinterstatemovers.com\/?p=4904"},"modified":"2026-08-04T18:43:35","modified_gmt":"2026-08-04T18:43:35","slug":"trumps-memecoin-grift-hit-with-calls-for-scam-probe","status":"publish","type":"post","link":"https:\/\/nationwideinterstatemovers.com\/?p=4904","title":{"rendered":"Trump\u2019s Memecoin Grift Hit With Calls for \u2018Scam\u2019 Probe"},"content":{"rendered":"<article>\n<p>President Donald Trump\u2019s memecoin venture could soon come under scrutiny.<\/p>\n<p>Two Democratic senators have urged the Securities and Exchange Commission to probe the president\u2019s crypto venture after it blew up and crashed just as quickly, leading to billions of dollars in losses for nearly a million investors.<\/p>\n<p>Read more <a href=\"https:\/\/nationwideinterstatemovers.com\/?p=4902\">Epstein Survivors Blast Republican Rebels Over Blanche Vote<\/a><\/p>\n<div>\n<p>Sen. Elizabeth Warren of Massachusetts and Sen. Richard Blumenthal of Connecticut urged SEC Chairman Paul Atkins, a pro-crypto Trump appointee, to investigate the president\u2019s memecoin \u201cto detect any illegal fraud or unjust enrichment that the coin may have facilitated.\u201d<\/p>\n<\/div>\n<p>\u201cWe are concerned that President Trump\u2019s memecoin scheme may constitute an illegal scam,\u201d they wrote on Monday in a letter first obtained by CNN. \u201cThe SEC must be willing to enforce the law even when potential wrongdoers include those with powerful political connections.\u201d<\/p>\n<p>The president\u2019s eponymous memecoin, $TRUMP, surged to a staggering $27 billion market cap\u2014about $75 apiece\u2014when it was launched just days before Trump\u2019s second inauguration. A year later, it plummeted 94 percent to just $4.86 per coin. As of Tuesday, it was valued at only $1.46.<\/p>\n<p>\u201cThe SEC must investigate whether a fraudulent scheme may be underway, and prevent further extraction of enormous value from the hundreds of thousands of investors who put their faith in Trump\u2019s coin,\u201d Warren and Blumenthal wrote.<\/p>\n<p>The White House referred the Daily Beast to the Trump Organization, which did not immediately respond to a request for comment. <\/p>\n<p>Not even the president\u2019s own supporters could hide their disappointment with the flailing coin. Nick Pinto, a Trump voter who invested about half a million in the $TRUMP coin, has now lost about half of his investment.<\/p>\n<p>Read more <a href=\"https:\/\/nationwideinterstatemovers.com\/?p=4901\">McConnell\u2019s Staff Raking in Six-Figure Sum in His Absence<\/a><\/p>\n<p>\u201cHe is leveraging the power of being president to launch currencies, when he seems trustworthy in the public\u2019s eye,\u201d he told The New York Times. \u201cIt is kind of incredible. It is almost a legal scam.\u201d<\/p>\n<p>In an attempt to sweeten the deal for $TRUMP investors, the president hosted glitzy galas for the holders of his memecoin in April this year and in May 2025. <\/p>\n<p>But Pinto said the event failed to meet his expectations.<\/p>\n<p>\u201cThe food sucked,\u201d he said. \u201cWasn\u2019t given any drinks other than water or Trump\u2019s wine. I don\u2019t drink, so I had water. My glass was only filled once.\u201d <\/p>\n<div>\n<div>\n<div>\n<blockquote>\n<section> @nicholaspinto_ <\/p>\n<p>walmart steaks #memecoins <\/p>\n<p> \u266c original sound &#8211; Nick Pinto <\/section>\n<\/blockquote><\/div>\n<\/div>\n<\/div>\n<p>Pinto also said Trump \u201cdidn\u2019t talk to any of the 220 guests\u2014maybe the top 25.\u201d<\/p>\n<p>The president, in stark contrast, didn\u2019t suffer any of the losses his memecoin investors did. In fact, Trump\u2019s first year back in the White House was his most lucrative one yet: he took in $2.4 billion in 2025, the bulk of which came from cryptocurrency.<\/p>\n<p>White House spokeswoman Anna Kelly previously said in a statement that, \u201cas President Trump said, he has a lot of assets because he was a massively successful businessman prior to becoming President, which was why he was elected to office in the first place.\u201d <\/p>\n<div>\n<p>\u201cAll of the President\u2019s assets are held in fully discretionary accounts managed by independent third-party financial institutions. There are no conflicts of interest,\u201d she added.<\/p>\n<p>Read more <a href=\"https:\/\/nationwideinterstatemovers.com\/?p=4899\">CBS Boss Frantically Backtracks After Sucking Up to Trump<\/a><\/p>\n<\/div>\n<\/article>\n","protected":false},"excerpt":{"rendered":"<p>President Donald Trump\u2019s memecoin venture could soon come under scrutiny. Two Democratic senators have urged the Securities and Exchange Commission to probe the president\u2019s crypto venture after it blew up and crashed just as quickly, leading to billions of dollars in losses for nearly a million investors. Read more Epstein Survivors Blast Republican Rebels Over [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4903,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-4904","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Trump\u2019s Memecoin Grift Hit With Calls for \u2018Scam\u2019 Probe - Nationwide Inter State Movers<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationwideinterstatemovers.com\/?p=4904\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trump\u2019s Memecoin Grift Hit With Calls for \u2018Scam\u2019 Probe - Nationwide Inter State Movers\" \/>\n<meta property=\"og:description\" content=\"President Donald Trump\u2019s memecoin venture could soon come under scrutiny. 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Two Democratic senators have urged the Securities and Exchange Commission to probe the president\u2019s crypto venture after it blew up and crashed just as quickly, leading to billions of dollars in losses for nearly a million investors. 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