In an article strongly written on X (formerly Twitter), Schiff said that Trump, that he described as “first president of cryptography”, played a role in what he described as the “greatest crypto shot of all time”.
Schiff requests answers to several key questions, in particular:
Cryptographic tracker
Who is the author of the two Sunday afternoon articles on Trump’s social account concerning the crypto?Who had prior knowledge of the announcement and when were they informed?
How much money have those who have invested in cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), XRP, Solana (Sol) and Cardano (ADA), and when they sold? Are there e-mails or messages among Trump staff, family, campaign donors or the truth about social employees linked to these crypto announcements?
Donald Trump, the first president of cryptography, has just made the greatest crypto shot of all time. An investigation by Congress is now justified to discover the following concerning this pump and discharge scheme.
Who is the author of the two messages on Sunday afternoon on the president …
– Peter Schiff (@peterschiff) March 3, 2025
Cryptography market reaction
The controversy follows from Trump’s surprise announcement on Monday that his administration would include five cryptocurrencies – Bitcoin, Ethereum, XRP, Solana and Cardano – in a proposed American strategic reserve.
Following the declaration, the cryptography market experienced an immediate increase, Bitcoin jumping by 10% to a summit of $ 92,905 and Ethereum overthrew 13% at $ 2443. Cardano led the rally with an astonishing increase of 64% to $ 1.07, while XRP increased by 25% to $ 2.79 and Solana won 18%.
However, the euphoria was short -lived. On Tuesday, optimism during the initiative had faded, leading to a strong market correction. Bitcoin plunged from 9.8% to $ 83,725, while Ethereum dropped by $ 2,083.
The global market capitalization of cryptography has decreased by 10.5%to 2.76 dollars, and other altcoins also suffered significant reductions, cardano falling 25%, Solana down 19%, losing it by 16%and XRP seals 18%.
Investigation calls
Schiff argues that the rapid rise and decrease in cryptography prices suggest the manipulation of the market, with those who will take place at the announcement of Trump which potentially achieves important gains before the accident. He demanded that the congress should investigate whether individuals close to Trump or his campaign benefited from prior knowledge of the announcement.
While the accusations of Schiff are gaining ground, political and financial experts are divided on the question of whether the cryptocla assets of Trump were only speculative or part of a coordinated effort to influence the market. Meanwhile, cryptographic investors remain in advance, awaiting other developments on both the political front and any potential investigation.
What is the next step?
If the Congress takes over the investigation, this can lead to more in -depth investigations into the development of policies related to crypto and conflicts of potential interests in political circles.
For the moment, the cryptography market remains volatile, the merchants closely ensuring any new Trump policy decision or its allies which could once again send prices on the arrow or by crashing.
(Warning: recommendations, suggestions, views and opinions given by experts are theirs. These do not represent the opinions of the economic time)
