Senator Elizabeth Warren has requested a probe into the ethical and legal implications of the crypto tokens launched by Donald and Melania Trump. In a letter dated January 22, Warren expressed concern that these tokens, TRUMP and MELANIA, allow the Trump family to profit significantly during his presidency, creating a potential avenue for foreign influence on the U.S. president. Warren noted that the TRUMP token, which launched just before Trump took office, had increased its value dramatically at first but has since experienced a significant decline. Furthermore, she pointed out that the Trump Organization holds a substantial majority stake in the tokens, raising conflict-of-interest issues as Trump would have the power to appoint regulatory leaders. Warren's letter was addressed to key regulatory figures, seeking clarification on the ethical rules governing the Trumps’ holdings and measures to track foreign purchases of these tokens. The scrutiny surrounding these memecoins has drawn comparisons to the broader crypto sphere, with critics labeling them as emblematic of the industry's worst aspects.

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