Trump Signs Truth Social Post with ‘DJT’ as Senators Call for Insider Trading Probe”
A group of US senators, led by Massachusetts Senator Elizabeth Warren, has called for an investigation into potential securities law violations involving President Donald Trump or White House insiders. The request, made to the Securities and Exchange Commission (SEC), comes after Trump posted a message on his Truth Social account early Wednesday urging followers, “THIS IS A GREAT TIME TO BUY!!!”
Just hours later, Trump announced a 90-day suspension of additional tariffs on numerous countries, triggering a significant stock market rally, with the S&P 500 experiencing its best day since the recovery from the 2008 financial crisis.
In their letter, the six Democratic senators expressed concern that the tariff announcement may have benefited insiders who had prior knowledge of the tariff pause. They urged the SEC to investigate whether Trump’s family or other administration insiders made stock trades based on this information ahead of the official announcement.
Trump’s Truth Social post was signed with “DJT,” representing both his initials and the stock market ticker for his media company, Trump Media & Technology Group. The company’s shares rose by 21.67% on Wednesday following the announcement.
The senators have requested that the SEC investigate whether the president, his supporters, or other insiders engaged in market manipulation or insider trading, potentially violating securities laws. SEC Chairman Paul Atkins, who has a history of conflict with Warren, is not obligated to agree to the investigation.
This call for investigation coincides with growing concerns over the multiple ways in which Trump and his family are able to leverage the power of the presidency for personal gain, despite the lack of evidence proving corruption.
Additionally, ahead of his inauguration, Trump launched a “memecoin” – a cryptocurrency with no intrinsic value – raising concerns about the potential for secret foreign donations. Former aide Anthony Scaramucci criticized the launch, stating that it opened the door for foreign entities to funnel money directly into the president’s account.
The White House responded by saying that Trump’s post on Truth Social was intended solely to reassure the public and markets about economic security.