Trump's Crypto Ties Spark Market Turmoil Fears

Trump's Crypto Ties Spark Market Concerns

Trump's growing involvement in the crypto market has raised concerns among investors, with a $70 billion hedge fund warning that his support could lead to market turmoil. Elliott Management, in an investor letter, cautioned that Trump's actions endanger the crypto market, as the "inevitable collapse" of the bubble could have unforeseen consequences. The fund sees parallels with the AI boom and sky-high stock prices, calling investors "a crowd of sports bettors." Crypto, it says, is "ground zero" for the mania, thanks to its "proximity to the White House."

Trump's business ties to crypto are expanding. He and his sons backed a decentralized finance fund called World Liberty Financial, which has drawn scrutiny over possible insider trading. In January, President Donald Trump and Melania Trump launched meme coins Official Trump (TRUMP) and Melania (MELANIA), fueling the crypto craze. Trump Media, where he owns a majority stake, also plans to invest up to $250 million in crypto.

Elliott's founder, Paul Singer, is a longtime Republican donor who has been critical of Trump's policies. Despite this, he donated $5 million to a Trump PAC last election. The hedge fund says it has "never seen a market like this."

Meanwhile, new crypto projects are emerging, with Remittix (RTX) gaining attention for its unique features. Remittix simplifies global money transfers by combining decentralized finance (DeFi) with cross-border payments. The project lets users convert crypto into regular money (fiat) without hidden fees, ensuring the receiver gets the exact amount sent. The platform uses certified smart contract technology to make transactions fast and secure, processing transfers on the same day. Remittix supports over 50 cryptocurrencies and offers up to 18% rewards through staking, as well as voting rights for VIP members.

Remittix's presale has gathered over $10 million, with tokens priced at $0.0479. Experts project massive profits for RTX, with the possibility of the project surging to $1 upon launch. The high demand for Remittix's presale coin signals its appeal and potential to take your portfolio from zero to a hundred before the end of this year. Join the