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Lawmakers raise alarm over tweets, 'meme coins' and Justin Sun ties; SEC chair says he cannot discuss active investigations
Summary
House members urged the SEC to investigate potential market manipulation tied to social-media posts and trading in "meme coins," including transactions linked to Justin Sun and a family-branded coin; Chairman Paul Atkins said he could not comment on specific investigations.
Several members of the House panel raised concerns about potential market manipulation tied to social-media posts and trading in so-called "meme coins," citing transactions tied to Justin Sun and family-branded coins launched in January.
Representative Mark Pocan described a series of trades and public posts that, he said, appeared to raise questions about possible insider trading or coordinated market manipulation. Pocan cited an 11/25/2024 purchase, follow-on buys in January, the January 17 and 20 social-media posts announcing a family-branded coin, later coin…
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