Hedge fund Elliott warns Trump is inflating crypto bubble that ‘could wreak havoc’

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Financial Times 14h ago

Hedge fund Elliott warns Trump is inflating crypto bubble that ‘could wreak havoc’ - Financial Times

Quick Summary:

However, he donated $5mn to the “Make America Great Again” political action committee in the last election, whose goal was to support Trump.

The Trump administration’s embrace of cryptocurrencies is helping fuel a speculative mania that could cause “havoc” when prices collapse, hedge fund Elliott has warned.

For any elected official to support “marginalising the dollar” was “profoundly dangerous”, wrote Elliott, highlighting the hundreds of millions of dollars spent helping politicians who were sympathetic to crypto get elected.