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Senators Elizabeth Warren and Richard Blumenthal have asked the SEC to examine whether the TRUMP token involved fraud or improper enrichment. This is a request for investigation, not a formal SEC probe, and that distinction remains important. Nansen estimates that roughly 989,000 wallets had lost a combined $3.81B by late June, while Trump-linked entities generated about $636M in revenue. The larger issue is whether conflict concerns can be assessed through a process viewed as independent. Not advice, just analysis. #TrumpTokenProbe #OKXOrbit