Senator Adam Schiff Opens Investigation Into Insider Trading Allegations
Adam Schiff, a United States Senator from California, announced that he will be investigating the insider trading allegations brought to the public eye after President Donald Trump announced a pause in the reciprocal tariff policy.
Schiff stated that he was sending a letter to the White House to determine whether there was ongoing insider trading by individuals aware of the tariff pause measure enacted by the Trump Administration. He urged whistleblowers to come forward with any information on this matter.
Read more:Bitcoin Blazes Past $82K as Wall Street Roars on Trump’s 90-Day Tariff Timeout
As expected, the announcement spurred a surge in the stock market, and Schiff believes that people connected to the White House might have knowingly taken advantage of this possibility, potentially making millions.
In a statement posted on social media, Schiff stated:
“In any administration this corrupt, it is more than necessary to ask: Were people profiting from insider information while people’s savings, their retirement accounts, were being torched?”
Schiff stated that while he would be directing a letter to the White House to inquire on the subject, he did not expect much of this, and he was relying on whistleblowers to come forward with information on this and other kinds of corrupt acts.
Chris Murphy, U.S. Senator from Connecticut, also raised concerns about this situation, opened by what he called the “chaotic nature” of Trump’s tariff policy. “With Trump’s position changing every single hour, it gives ample opportunity for any individual who has early access to information about the White House’s change in position to make boatloads of money,” Murphy highlighted.
Alexandria Ocasio-Cortez, U.S. Representative for New York’s 14th Congressional District, also called for disclosure of any congress members that traded stocks during the last two days. “It’s time to ban insider trading in Congress,” she stressed.
According to several social media accounts, Marjorie Taylor Greene, U.S. Representative for Georgia’s 14th Congressional District, recently disclosed that she purchased hundreds of thousands of dollars in stocks significantly affected by the tariff policies in the days leading up to the tariff pause.