President Donald Trump’s memecoin venture could soon come under scrutiny. Sen. Richard Blumenthal skewered the $TRUMP memecoin on Capitol Hill last week. Chip Somodevilla/Getty Images“We are concerned that President Trump’s memecoin scheme may constitute an illegal scam,” they wrote on Monday in a letter first obtained by CNN. The president’s eponymous memecoin, $TRUMP, surged to a staggering $27 billion market cap—about $75 apiece—when it was launched just days before Trump’s second inauguration. Nick Pinto, a Trump voter who invested about half a million in the $TRUMP coin, has now lost about half of his investment.