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Trump’s crypto pump was the biggest rug pull in history – Peter Schiff
The cryptocurrency market has been on a rollercoaster ride recently, with prices swinging wildly due to various factors. Amidst this chaos, former President Donald Trump made waves by announcing the creation of a U.S. Crypto Strategic Reserve, which resulted in a sharp surge in digital asset prices and trading volumes. However, prominent Bitcoin critic Peter Schiff is now accusing Trump of orchestrating the biggest “rug pull” in history, demanding a congressional investigation into potential insider trading.
Schiff’s claims stem from Trump’s Truth Social posts, which he alleges were strategically timed to manipulate the crypto market. He believes that certain individuals with prior knowledge of these announcements may have capitalized on the surge by investing in assets like Ripple [XRP], Cardano [ADA], Solana [SOL], Bitcoin [BTC], and Ethereum [ETH] before offloading them at inflated prices.
Schiff is pushing for a full congressional investigation, requesting access to communications, including emails and text messages from Trump’s inner circle. His primary goal is to uncover whether insider trading played a significant role in this pump-and-dump scheme, emphasizing the need to track investment amounts and timing of subsequent sales if such a practice is found.
Schiff believes that if his claims are verified, it could lead to one of the most significant financial scandals in recent history.
Source: https://ambcrypto.com/trumps-crypto-pump-was-the-biggest-rug-pull-in-history-peter-schiff/
