According to Cointelegraph, the U.S. House of Representatives Special Committee on the Chinese Communist Party has issued subpoenas to three brokerages—D. Boral Capital, Dominari Securities, and Revere Securities—requiring them to submit communications, transaction records, and due diligence documents related to Chinese IPOs. Dominari Securities has drawn particular attention due to its ties to the Trump family: its parent company, Dominari Holdings, is headquartered in Trump Tower in New York; Eric Trump is the fourth-largest shareholder; and Eric Trump and Donald Trump Jr. joined the company’s advisory board in February 2025. The investigation alleges that the Chinese companies involved are suspected of artificially inflating their stock prices through U.S. IPOs, followed by concentrated sell-offs, resulting in approximately $16 billion in losses for U.S. investors since 2023. FBI complaints related to these activities have increased by 300% over the same period. The firms must submit the requested documents by this Friday.
U.S. Congress Investigates Trump-Linked Firms Over Chinese IPO Scandal
TechFlowShare
Summary
The U.S. House Select Committee on China has issued subpoenas to D. Boral Capital, Dominari Securities, and Revere Securities regarding Chinese IPO fraud. Dominari, which is linked to the Trump family, has Eric Trump as a major shareholder and both him and Donald Trump Jr. on its advisory board. The investigation follows a $16 billion loss for U.S. investors and a 300% increase in FBI complaints since 2023. The firms must comply by Friday. Amid rising market uncertainty, altcoins to watch are gaining attention as traders monitor the Fear & Greed Index for shifts in sentiment.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.