Senator Adam Schiff on Wednesday called on Congress to investigate whether President Donald Trump engaged in insider trading or market manipulation when he abruptly paused a sweeping set of tariffs, a move that sent stock prices skyrocketing.
“I’m going to do my best to find out,” Schiff, a California Democrat, tells TIME. “Family meme coins and all the rest of it are not beyond insider trading or enriching themselves. I hope to find out soon.”
Schiff’s comments regarding a formal inquiry, which has not been previously reported, came soon after the S&P 500 surged more than 9% Wednesday afternoon after Trump announced the tariff pause. “THIS IS A GREAT TIME TO BUY!!!” Trump posted on Truth Social minutes after the maket opened on Wednesday, along with the letters “DJT,” which stands for both his initials and the ticker for his media company. The White House did not immediately respond to a rrequest for comment.
Obviously this may prove troublesome for President Trump as Schiff undoubtedly has proof for his suspicions believed to be kept in the same filing cabinet as his proofs of Russiagate.
"These are the times that try men’s souls." Thomas Paine