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US Senator sends letter to SEC demanding investigation into whether the TRUMP meme coin constitutes an "illegal scam", accusing it of being a "soft rug pull"

55 minutes ago

U.S. Democratic Senators Elizabeth Warren and Richard Blumenthal of Connecticut sent a joint letter to the SEC chairman on Monday, demanding an investigation into the Trump-themed meme coin TRUMP to determine if the coin facilitated any illegal fraud or improper gains. Warren and Blumenthal stated bluntly in the letter: "We are concerned that President Trump’s meme coin scheme may constitute an illegal scam." Trump launched the meme coin several days before his January 2025 inauguration, with 80% held by entities affiliated with the Trump Organization. Its peak valuation was roughly $9 billion, and it is now worth less than $400 million. Data from crypto analytics platform Nansen shows nearly 1 million investors have suffered losses on the coin, with total losses hitting $3.8 billion as of the end of June. The letter links the TRUMP meme coin to a rug pull, describing it as a "soft rug pull"—a scenario where market capitalization support fades gradually rather than collapsing abruptly.

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U.S. pre-market trading: the optical communication sector surges, with AAOI, LITE, COHR jumping more than 10%

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Bithumb will list the QUID/KRW trading pair.

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AllScale上线Claim Link，收款方无需钱包即可领取稳定币

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An interim plan for the Strait of Hormuz will grant Tehran full control over incoming shipping to its ports.

According to a Reuters report, a senior Iranian source disclosed that Tehran and Oman have reached a temporary plan for the Strait of Hormuz, which will grant Iran full control over all incoming shipping. Additionally, under the proposed arrangement, Oman can only clear outgoing vessels after notifying Iranian officials, ensuring Tehran stays informed and retains the right to intervene. The senior source stated that Iran is unlikely to accept any other plan to reopen the Strait of Hormuz.

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