ChainThink report: The U.S. House of Representatives has launched investigations into multiple Wall Street underwriters, including Dominari Securities, which is linked to the Trump family, due to their roles in facilitating the U.S. listings of several Chinese companies whose stocks are later alleged to be involved in market manipulation.

The committee chair John Moolenaar and top Democratic member Ro Khanna sent investigation letters to three firms this Monday, demanding information regarding their underwriting activities for Chinese company IPOs.

The three companies are D. Boral Capital, Dominari Securities, and Revere Securities.

Lawmakers noted in their letter that these companies were subsequently used for "ramp-and-dump" stock manipulation schemes: related Chinese shell companies coordinated trading activities and market promotion to artificially inflate share prices, followed by rapid sell-offs to retail investors at peak levels, resulting in sharp price collapses.

Some cases revealed large volumes of accounts placing nearly identical buy orders just above the IPO price, briefly inflating valuations before insiders swiftly cashed out.