The TRUMP coin has shown wild price swings, jumping from under $10 to $75 before dropping to $32.44. The MELANIA coin has followed a similar pattern. Warren emphasized the dangers these volatile coins pose to investors, highlighting their speculative and trend-driven nature.
A key issue raised is the possibility of foreign influence. Warren cautioned that foreign governments or individuals could purchase these coins, potentially funneling money to the Trump family. This, she argued, could threaten U.S. national security and spark ethical concerns.
Warren also criticized the lack of consumer protections, noting that the coin issuers include disclaimers that absolve them of fraud responsibility. She pointed out that the Trump family’s large ownership stake could lead to disproportionate profits, leaving regular investors at risk of financial losses.
The senator urged agencies like the SEC and CFTC to investigate potential violations of federal securities and commodities laws. She also questioned how regulators plan to monitor these coins moving forward.
Separately, Warren wrote to DOGE Chair Elon Musk, suggesting ways to reduce government spending. This broader effort underscores her push for transparency and accountability across financial and governmental sectors.