Two US senators are calling for investigations into President Donald Trump. Democrats Adam Schiff from California and Richard Blumenthal from Connecticut suspect that the head of state may be involved in market manipulation and insider trading.
Such claims were made by the senators after Trump announced a tariff pause. Additionally, President Trump wrote on Truth Social on Wednesday morning that it was a great time “to buy.” This post came shortly after the stock market opened – by the afternoon, the S&P 500 index had risen more than 9 percent.
According to Schiff, Trump’s so-called meme coins raised suspicion as this was not beyond insider trading or self-enrichment. It was also possible that some officials in the US government, who were familiar with the cabinet’s measures in advance, could have used this information for insider trading. Schiff promised to do everything possible to clarify the situation and potentially call for an investigation.
Blumenthal also called for investigations, but was less restrained. The senator believes that the US government is full of “tricksters” and “corruption incarnate.” According to NBC TV, the senator said:
“I have no doubt that an investigation into stock trading and other potential interventions will ultimately uncover the corruption in this government.”
US media point out that such investigations are typically carried out by the Senate’s Judiciary or Finance Committee. Since January 2025, Republicans have held the chairmanship of both committees.