Trump’s “crypto strategic reserve” is about to make one of the worst people richer.
On Sunday, President Trump announced his plans for a U.S. “crypto strategic reserve,” stating that he’d make the country the “Crypto Capital of the World.” But a closer look reveals the reserve may be nothing but a blatant insider trading scam to make his billionaire crypto czar richer—funded by taxpayer money.
Trump announced that he plans to add five cryptocurrencies to the strategic reserve: Bitcoin, Ethereum, XRP, Solana, and Cardano. Not so coincidentally, his crypto czar David Sacks has a venture firm linked to Bitwise Invests, one of the biggest crypto index fund providers. Bitwise holds significant amounts of the very same cryptocurrencies. Sacks promised that he sold his personal, direct holdings, but made no mention of his multiple indirect holdings.
If this wasn’t enough, just a few hours before Trump’s announcement, someone bought $200 million in Ethereum and Bitcoin, raising the question of who may have known about the plan ahead of time….
https://newrepublic.com/post/192207/trump-crypto-reserve-corruption