✨Democratic lawmakers blasted Trump's Bitcoin reserve plan, pointing out that its completion was for personal business interests!
Recently, President Trump's Bitcoin strategic reserve plan has caused quite a stir. Democratic Congressman Gerald E. Connolly strongly condemned the policy, accusing it of "conflict of interest" and purely for Trump's personal business interests, and called on the Treasury Department to immediately stop the relevant actions.
Connolly's opposition to Trump's actions in the cryptocurrency field revealed a potential conflict of interest, and his core concerns focused on three aspects;
First, he pointed out that Trump holds a stake in the World Liberty Financial (WLFI) project, which means that any policy that increases the value of cryptocurrency may directly increase Trump's personal wealth.
Second, Connolly expressed concern about Trump's practice of establishing a Bitcoin reserve through an executive order without seeking congressional approval. He believes that this practice lacks transparency and accountability and bypasses the normal legislative process.
Finally, Connolly also mentioned the controversy surrounding the Official Trump (TRUMP) token, which he believes may be a speculative money-making plan that Trump and his allies may profit from.
For all these reasons, Connolly has formally written to Treasury Secretary Scott Bessant, asking the Treasury to stop advancing the Bitcoin reserve plan and submit a detailed report by March 27. As opposition grows, the debate over Trump's cryptocurrency policy is expected to intensify.
It is worth noting that the cryptocurrency market fell after Trump signed the executive order on March 6. Bitcoin prices fell sharply from about $93,000 to below $77,000 in a week. Although the current price has rebounded to around $84,000, market confidence remains unstable. At the same time, other altcoins such as Ethereum, XRP, Solana and Cardano have also suffered double-digit declines during this period.
💬Do you agree with Connolly's view that Trump's Bitcoin reserve plan is actually for personal business profit? Leave a message in the comment area to discuss!
