Is 撒币 a proper Chinese word? Occasionally one sees the word 撒币 in modern media and google translate translated it as "Sprinkle coins", which I think is inaccurate: does it not mean "to squander"? I failed to find this word "撒币" in a formal dictionary. Is it considered as a proper word which is acceptable in formal writings?
Wiktionary

Verb
撒幣
(derogatory, slang) to invest or give (as financial help) a large amount of money to foreign countries

And:

Etymology
From earlier 大撒幣, a pun based on near-homophone 大傻屄 (“big dumbfuck”).


Both 撒币 and 大撒币 can mean spending large amounts of money while also being euphemisms for 傻屄 and 大傻屄, depending on the context.

E.g.:
NTDTV

相信北京当局在短期内不太可能继续在国际上“大撒币”。