The six Democrats -- led by Massachusetts progressive Elizabeth Warren -- noted in a letter to the Securities and Exchange Commission (SEC) that Trump posted on his website Truth Social early Wednesday that “THIS IS A GREAT TIME TO BUY!!!” as stock markets were tanking.
“We urge the SEC to investigate whether the tariff announcements... enriched administration insiders and friends at the expense of the American public,“ senators wrote in a letter to regulators at the Securities and Exchange Commission.
Trump signed his Truth Social post with the letters “DJT” -- both his initials and the stock market abbreviation for his media company, Trump Media & Technology Group.
The senators called on the SEC to investigate whether the president, his donors or other insiders had engaged in market manipulation, insider trading or other violations of securities laws.
Atkins is not obliged to do what the senators ask, and four of the group followed up with a second letter to the National Association of Attorneys General asking for state-level investigations.
The demand for action came amid concern over the growing number of avenues through which Trump and his family can monetize the power of the presidency, although no evidence of corruption had emerged.
“Now anyone in world can essentially deposit money into bank account of President of USA with a couple clicks,“ his former aide Anthony Scaramucci posted on social media after the launch.
The White House told The Washington Post that Trump’s Truth Social post sought only to “reassure” the public and that he had a responsibility to “reassure markets and Americans about their economic security.”
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