Donald Trump's proposal to create a "Strategic Bitcoin Reserve" and other crypto assets has sparked intense debates, especially after suspicions that his history with cryptocurrencies — including the meme coin $TRUMP — may indicate risks of market manipulation. Below is a detailed analysis:
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### 1. Context of the $TRUMP Coin "Rug Pull"
- In April 2025, the developers of the $TRUMP coin removed $4.6 million from a liquidity pool, transferring the funds to Coinbase Prime (institutional platform). This occurred one day before the unlocking of 40 million tokens (20% of the circulating supply), valued at $320 million.
- The price of $TRUMP fell 90% from its all-time high, raising concerns about a potential rug pull — a practice where developers abruptly withdraw liquidity, leaving investors with devalued assets.
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### 2. Accusations of Market Manipulation Linked to Trump
- Peter Schiff, a Bitcoin critic, urged Congress to investigate Trump's posts on Truth Social. According to him, posts about cryptocurrencies (such as XRP, ADA, and SOL) may have been strategically timed to inflate prices, benefiting allies with prior knowledge.
- Schiff demands access to emails and text messages from Trump’s team to verify possible insider trading. He claims the move was a "historic rug pull."
- Jon Rice, former editor of Cointelegraph, criticized the strategic reserve plan, stating that Trump used profits from the $TRUMP coin to buy assets that he later included in the reserve, extracting value from the market.
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### 3. The Plan for the Strategic Cryptocurrency Reserve
- Trump's proposal includes Bitcoin, Ethereum, XRP, Solana, and Cardano in the federal reserve. Part of the BTC already comes from government seizures (about 200,000 BTC, equivalent to $17 billion).
- Critics point out conflicts of interest: Trump has financial ties with World Liberty Financial (a cryptocurrency company) and personally launched the $TRUMP coin, which appreciated during his campaign.
- Paul Krugman (economist) compared the reserve to a potential pump-and-dump, where the government would manipulate prices by buying/selling volatile assets.
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### 4. Concerns About Volatility and Centralization
- The inclusion of altcoins like XRP and ADA in the reserve has been criticized by figures like Tyler Winklevoss, who advocates for only Bitcoin. These coins are seen as more centralized and susceptible to manipulation.
- The SEC formed a task force for regulation, but the lack of clarity on how the reserve will be managed — especially regarding future sales — fuels fears that the government may artificially influence the market.
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### 5. Conclusion: Is it a National Scale Rug Pull?
Although Trump's plan is presented as a strategy to position the U.S. as a leader in cryptocurrencies, there are concerning indications:
- History of questionable practices: The case of the $TRUMP coin and the liquidity withdrawal suggest patterns of risky behavior.
- Conflicts of interest: Promoting specific assets in the reserve may benefit allies and projects linked to Trump.
- Lack of transparency: The absence of details on how the reserve will operate increases distrust, especially after accusations of insider trading.
While the government insists that the reserve is a "digital Fort Knox," analysts recommend caution, as the combination of institutional power, volatile assets, and a controversial history creates a favorable environment for manipulation.