CandleFocus

Trump’s crypto ties could cause ‘havoc,’ $70b hedge fund warns

Author: Content Editor
A hedge fund worth $71 billion, Elliott Management, has warned that President Donald Trump's support for cryptocurrencies could lead to a speculative frenzy that ultimately ends in market turmoil. The fund argues that the soaring prices of cryptocurrencies have no substance and politicians who endorse crypto are playing a dangerous game. They see parallels with the AI boom and emphasize that crypto is at the center of the mania due to its proximity to the White House. The fund cautions that a collapse in the crypto bubble could result in unforeseen havoc. Elliott Management also highlights Trump's growing business ties to crypto, including his backing of a decentralized finance fund and the launch of meme coins. The hedge fund's founder, Paul Singer, is a longtime Republican donor who has been critical of Trump's policies but has also made donations to Trump's campaign. Elliott Management states that they have never seen a market like this before.

Related News