Senator Elizabeth Warren and Representative Jake Auchincloss have called for an investigation into the TRUMP and MELANIA meme coins launched shortly before Donald Trump's second inauguration. In a letter to federal regulators, they expressed concerns over potential conflicts of interest, consumer risks, and national security implications linked to these cryptocurrencies, asserting that the Trump family controls 80% of the TRUMP coin. This control raises worries about price volatility and the influence of foreign entities on the President through financial speculation. The coins have dramatically increased the net worth of the Trump family, now estimated at $58 billion, and allow anyone, including foreign adversaries, to invest covertly. Warren and Auchincloss have prompted regulators to answer key questions about the ethical oversight of these holdings and the risks they pose to retail investors. They criticized the broader meme coin market for failing to provide meaningful benefits to the financial ecosystem, emphasizing a need for tighter regulation and oversight of such assets.

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