Elizabeth Warren joins call for probe of Trump over crypto tokens
Senator Elizabeth Warren said Donald Trump’s memecoin could raise “the specter of uninhibited and untraceable foreign influence over the US president.”
Senator Elizabeth Warren has asked US financial regulators and the government ethics office to probe the ethical and legal concerns around Donald and Melania Trump’s crypto tokens.
“We write with deep concern about the decision by President Trump and First Lady Melania Trump to launch two memecoins, TRUMP and MELANIA, that allow them to earn extraordinary profits off his Presidency,” Warren wrote in a Jan. 22 letter.
Warren, a top Democrat in the Senate Banking Committee who is known for her crypto skepticism, said the memecoin “has massively enriched Trump personally, enabled a mechanism for the crypto industry to funnel cash to him, and created a volatile financial asset that allows anyone in the world to financially speculate on Trump’s political fortunes.”
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Author: Martin Young
