Trump Coin plummeted from 12 billion to 12 dollars! The White House Capital Bureau leaves retail investors with nothing to show for
At yesterday's hearing, Republican lawmakers dropped a bombshell: Sun Yuchen is suspected of gifting $300 million worth of cryptocurrency to the Trump family, indicating a conflict of interest. This is not regulation; it's clearly collusion between government and business!
Last year, Sun Yuchen extravagantly spent $30 million to buy WLFI coins, supported by Trump, pulling a project on the brink of collapse back to life. He transformed into a project consultant, filling the team with Trump’s sons and confidants. The coin's price surged 50% before crashing 60%. How many retail investors lost everything? Lawmakers questioned whether this counts as a political donation, but the SEC chairman pretended not to hear: "Not my concern!"
The most surreal moment was the exposure of the 'Trump Coin' disaster at the hearing. Its market value plummeted from $12 billion to $12, and SEC officials casually deflected blame: "This is like sports trading cards; we don’t manage the ups and downs." What a careless manager!
Democrats quickly revealed the SEC chairman's conflicts of interest: you personally hold $5 million in coins, and your wife’s family is in finance; can you enforce the law impartially? The crowd erupted in boos.
This farce has torn the veil off US cryptocurrency regulation:
Policies change with the wind: former officials scrutinized coins, now they turn a blind eye to meme coins, and the SEC has transformed from a stern judge to a blame-shifting expert.
Capital frenzy and chaos: Wall Street smells blood, with Goldman Sachs predicting that new policies will cause the crypto market to surge by 40%, but behind this is even crazier speculation, with Bitcoin's volatility possibly soaring to 50%.
Regulatory hypocrisy: the so-called 'gray area regulation' means strict checks on security tokens, free rein for utility tokens, and meme coins left to fend for themselves, clearly allowing retail investors to be taken advantage of.
In short, this is a trap set by the White House and Wall Street! The rules are made for ordinary people, while those who really benefit are insiders. Those who don’t understand the game will eventually become bag holders. Those who promote cryptocurrency freedom are merely using it as a cover to profit off others!
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