70,000,000,000 dollars hedging box says Trump is leading the “speculative obsession” of encryption assets – here is its warning: Report
The Elliott Management giant is said to be concerned about President Trump’s embrace of digital assets and believes he can “cause ruin” in the financial markets.
According to an investor’s letter seen in the Financial Times, the hedge fund of $ 70 billion He says The assets of encryption “there is no substance” and criticize the politicians who support this industry.
Elliott Management has never seen “such a market”, which is similar to encryption investors with “a crowd of sports betting”.
“[The] Unavoidable collapse [of crypto] It can enhance ruin in ways we cannot expect yet. “
Elliot also sees encryption as “the dollar” which is “very dangerous”.
Paul Singer, the founder of the president and participant in the company, was originally a critic of Trump, before he finally surrendered To become a donor To the president twice early in 2017. Reports as well back In 2024, the singer and his colleague in hedge funds, Ken Griffin, discussed the donation of Trump’s presidential campaign.
Quoting data from OpenSecrets, The Financial Times says that the Republican supporter donated about $ 56 million to conservative candidates during the 2024 election session.
Despite the date of Trump and the Republicans’ support, Singer was wondering why the government encouraged alternatives to the US dollar at a time when other countries – such as the BRICS Alliance – were trying to reduce its dependence on it.
Shortly after the election of a president, Trump signed an executive entitled “Promotion of American leadership in digital financial technology”, which states that the administration supports “responsible growth” and the use of digital assets and Blockchain technology.
The request cancels the directives of the previous digital assets of President Biden and the creation of a new working group that will coordinate and suggest a unified organizational approach to digital assets within 180 days.
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Disclosure: The views expressed in Daily Hodl are not an investment advice. Investors must do due care before making any high -risk investments in bitcoin, cryptocurrency, or digital assets. Please note that your transfers and trading on your own responsibility, and any losses you may bear are your responsibility. Daily Hodl does not recommend buying or selling any encrypted currencies or digital assets, and Hodl Daily Andersor is an investment. Please note that the daily Hodl participates in dependent marketing.
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