[link removed] [[link removed]] John,
The SEC keeps taking action that helps President Trump and his allies. I wanted to reach out about this troubling pattern—because it could have a real impact on everyday Americans.
Just in the last month, we’ve seen the SEC drop two investigations into people or companies funding Donald Trump’s interests: one investigation into Coinbase, a cryptocurrency company, and one into Justin Sun, a Chinese cryptocurrency entrepreneur.
Coinbase donated $1 million to the Trump inauguration. Justin Sun bought $75 million in tokens from the Trump family's crypto business. The SEC closed investigations into both of them once Trump took office.
And they didn’t stop there. The SEC recently announced that it won’t regulate memecoins, which are a particularly volatile form of cryptocurrency.
That's awfully convenient for Trump, who launched the official Trump memecoin the day before he was sworn in, generating nearly $100 million in trading fees for his family.
Big investors—many with direct ties to Trump—reaped millions in profits, while smaller investors lost money as the value of Trump coin declined by over 80% (which is shockingly normal for a memecoin).
John, we warned that Trump’s cryptocurrency ventures would cause conflicts of interest. Not only did he fail to divest from his businesses before taking office but, he’s *expanding* his business and crypto ventures to make even *more* money from the presidency.
But what happens when policies designed to enrich Trump and his allies leave ordinary Americans footing the bill?
Trump’s SEC is shaping financial policy while Trump is profiting from it, and the consequences could be devastating. I’m deeply concerned that markets will be manipulated for private gain, financial protections will be stripped away, and once again, everyday Americans will be left to deal with the fallout.
CREW is fighting to expose Trump’s conflicts of interest with our tenacious legal and research efforts. We need to ensure that no one—not even a president—can manipulate our system for personal gain without transparency into his actions and public accountability. But we can’t do this alone.
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Thank you,
Robert Maguire
Vice President of Research and Data
CREW
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