NewsBTC •
April 27, 2026 at 13:00 •
Analysis
Three sitting US senators have opened a formal investigation into a dinner event tied to US President Donald Trump’s memecoin, with questions mounting over whether the arrangement amounts to a “pay-to-play” scheme that funneled money from ordinary investors to a tight circle of insiders. Related Reading: Bitcoin’s Big Players Are Accumulating — Is $80K Just The Start? Senators Move To Examine The Event The dinner became a flashpoint after analyst Simon Dedic posted on X that the Trump-linked token had been used to drain money from retail buyers at a scale that dwarfs many past crypto failures. Based on his figures, roughly $4.3 billion left the pockets of everyday investors. About $1.2 billion of that ended up in wallets controlled by insiders, while $320 million rep...
