BTC PULSE
No Result
View All Result
Play Now
No Result
View All Result
BTC PULSE
No Result
View All Result
Play Now
Home Blockchain

Memecoins Not Under SEC Oversight, Peirce Says as TRUMP Losses Hit $2B

by Chiwuike Owunwa
Feb 12, 2025 - 6:26 pm
in Blockchain
A digital stock chart representing crypto market liquidation data updates.

Peirce says SEC not in the jurisdiction of Memecoins

SEC Commissioner Hester Peirce clarified that memecoins, such as those branded as TRUMP and MELANIA, were not considered regulatory under the current framework of the U.S. Securities and Exchange Commission (SEC). On February 11, in an interview with Bloomberg, Peirce voiced these digital assets were not under SEC jurisdiction, saying regulatory control would belong to either Congress or elsewhere, perhaps to the Commodity Futures Trading Commission (CFTC).

“Many of the memecoins that are out there probably do not have a home in the SEC under our current set of regulations,” she said.

Investors in TRUMP Memecoin Lose $2 Billion

Peirce’s statements came while The New York Times reported on massive losses for TRUMP memecoin investors. According to a report by Chainalysis, a blockchain analysis firm, at least 813,000 wallets suffered total losses of $2 billion after purchasing TRUMP.

This token debuted on January 17, 2023, and briefly rose to $72.6 on January 19. It has fallen almost 80% since then, with its market cap going from $14.5 billion to $3 billion, CoinGecko reports.

Despite this massive loss, reports say that the Trump Organization and its partners pocketed $100 million in fees on tokens’ transactions.

Memecoins: Just Speculative Collectibles or True Crypto Assets?

Some experts argue that memecoins should not really be considered securities but more like speculative collectibles. Macro investor Lyn Alden pointed out the current memecoin phenomena are mirroring events from previous crypto iterations, from ICOs to NFTs.

“I’ve watched this space since 2017; myself I see a lot of the same patterns,” Alden wrote in X.

Another voice echoing this sentiment is Nate Geraci, president of ETF Store: “Memecoins are more akin to collectibles.”

Whereas Bitcoin or Ethereum have a fundamentally sound use case, memecoins sort of wax and wane on Internet fads, celebrity endorsements, and speculation.

While Peirce asserted that other governmental bodies might step in as needed, there will be no SEC regulation of memecoins.

“If that’s something that Congress wants to address, they can do that. Maybe that’s something the CFTC wants to address,” she concluded.

Tags: BlockchainRegulationSEC
Chiwuike Owunwa

Chiwuike Owunwa

Chiwuike is a frontend programmer and writer with 3 years experience in the Web3. He's meticulous researcher, enthusiastic about Blockchain and the future of crypto, DeFi, and the Metaverse.

Related Posts

Arthur Hayes speaking about Bitcoin as Japan’s new Prime Minister announces economic stimulus measures

Arthur Hayes Predicts $1M Bitcoin as Japan’s New PM Unveils Economic Stimulus

October 22, 2025

Arthur Hayes predicts Bitcoin could hit $1M as Japan’s new PM Sanae Takaichi launches economic stimulus, signaling potential...

blockchain

Bolivia’s President-Elect Rodrigo Paz Turns to Blockchain to Fight Corruption

October 20, 2025

Bolivia’s new president Rodrigo Paz plans to use blockchain in public procurement and crypto asset declarations as part...

Metaplanet and Bitcoin Magazine logos, symbolizing their new partnership to expand operations in Japan.

Japan Moves Toward Allowing Banks to Buy Bitcoin Under New Regulatory Framework

October 19, 2025

Japan’s regulators are reviewing changes that could let banks buy and hold Bitcoin, signaling a major shift in...

24H HOLD token price chart showing 35% surge despite market pullback

Crypto markets surge as Trump confirms October 31 summit with Xi Jinping

October 19, 2025

Crypto markets rebound after Trump confirms October 31 summit with Xi Jinping, easing US-China tensions and sparking optimism...

View All
BTC-Pulse LogoTransparent

© 2024 BTC-PULSE. Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

Info

  • Learn
  • Price Prediction
  • Events
  • Press Releases
  • Sitemap

Company

  • About Us
  • Terms of Service
  • Privacy Policy
  • Contact Us
  • Advertise

News

  • Altcoins
  • Bitcoin
  • Ethereum
  • NFT
  • Regulation
  • WEB 3.0

©2024 BTC-PULSE – All right Reserved.

No Result
View All Result
  • About Us
  • Advertise
  • BTC-PULSE
  • Contact Us
  • Events
  • Privacy Policy
  • Sitemap
  • Terms of Service