Peter Schiff Accuses Trump of Manipulation in the Cryptocurrency Market 🚨💥

Bitcoin critic Peter Schiff is demanding that Congress investigate what he calls the "biggest rug pull in cryptocurrency history." Schiff claims that controversial posts on Donald Trump's social media platform, Truth Social, were used to manipulate the market, benefiting individuals with insider knowledge.

What Happened?

Posts on Truth Social: Two posts by Trump allegedly caused a sudden spike in the prices of cryptocurrencies such as XRP, Cardano (ADA), Solana (SOL), Bitcoin (BTC), and Ethereum (ETH).

Pump and Dump Allegation: Schiff believes that individuals close to Trump used insider information to buy cryptocurrencies before the posts and sell after the price increase.

Request for Investigation:

Schiff is demanding:

Transparency: Regarding the authorship of the posts and who had prior knowledge.

Financial Tracking: To identify suspicious transactions linked to the scheme.

Access to Communications: Emails and text messages from Trump’s staff, family, and friends.

He stated:

"Donald Trump, the first cryptocurrency president, helped carry out the biggest rug pull of all time. A Congressional investigation is necessary."

Criticism of Bitcoin:

Schiff also rejected alleged support for a strategic Bitcoin reserve, accusing enthusiasts of twisting his words to manipulate the market. He criticizes the "fraudulent" tactics used by BTC promoters.

Regulatory Context:

Meanwhile, the Trump administration continues to advance its pro-cryptocurrency agenda. The SEC has formed a 15-member task force to develop clear guidelines for the sector.

Conclusion:

Schiff's accusations highlight the need for transparency and regulation in the cryptocurrency market. Meanwhile, the debate over the role of influential figures in price manipulation remains heated.

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