Hedge fund giant Elliott Management has warned that the White House's support for cryptocurrencies is fueling an unsustainable market bubble that could lead to severe financial disruption. The fund, founded by billionaire Paul Singer, criticized the US government's alignment with digital assets, stating that they lack fundamental value and have surged due to their perceived proximity to the White House. Elliott believes that the crypto industry has grown to dangerous levels and could potentially marginalize the US dollar. The fund's criticism is notable due to Singer's political connections, despite being a Republican donor. The report also highlights Trump's personal and business ties to the crypto sector, including backing a cryptocurrency platform and introducing meme coins. Elliott warns that these actions have further legitimized speculative behavior in the market.



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