U.S. Senator Richard Blumenthal has launched a preliminary investigation into the TRUMP memecoin, according to FOX61. The Permanent Subcommittee on Investigations (PSI), which Blumenthal oversees, is examining the cryptocurrency due to its association with former President Donald Trump. Blumenthal expressed serious concerns in a letter to the memecoin's issuer. He highlighted Trump's direct involvement, including dinners seemingly intended to inflate the coin's value. The Senator characterized this unprecedented situation as a potential "scam." This investigation raises questions about the intersection of politics, cryptocurrency, and potential financial manipulation. Further details about the scope and timeline of the investigation are expected to be released in the coming weeks. The inquiry could have broader implications for celebrity-endorsed cryptocurrencies and the need for clearer regulations. ```