The U.S.-based investment firm, Elliott Management, has expressed concerns about the government's support for digital assets, stating that it could lead to a speculative bubble and potential market crash. The hedge fund criticized the government for endorsing assets without fundamental value and warned that a collapse in the crypto market could cause financial instability. Additionally, Elliott argued that prioritizing cryptocurrencies over the U.S. dollar could have serious consequences for the country's financial stability. The letter also highlighted the growing influence of crypto in U.S. politics, with significant spending on pro-crypto candidates in recent elections. Furthermore, it was noted that former President Donald Trump and First Lady Melania Trump have entered the crypto space with the launch of their own meme coins.



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