Maxine Waters, a California Democratic representative and ranking member of the US House Financial Services Committee, raised concerns that President Donald Trump's newly launched memecoin, TRUMP, could pose risks to national security and open avenues for corruption. During a January 22 meeting, she criticized Republican lawmakers for neglecting oversight of cryptocurrency and financial institutions despite the party's majority in the House. Waters highlighted the potential for investors in the TRUMP coin to be left at a disadvantage, suggesting that Trump's involvement could allow anonymous transfers of money which might evade national security and anti-corruption laws. Following its launch on January 17, the value of the TRUMP token saw a significant increase of over 400%, reaching a market capitalization of more than $14 billion, despite starting with a notable drop. The discussions in the committee also focused on the need for regulatory clarity concerning digital assets, with promises from Republican leaders to address legal frameworks for cryptocurrencies.

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