Hedgefonds Gigantisch Elliott Management is reportedly concerned about the embrace of President Trump of digital assets and thinks it is “damage” on the financial markets.
According to an investor letter from the Financial Times, the hedge fund of $ 70 billion out Crypto assets have “no substance” and is critical of politicians who support the industry.
Elliott Management has “never seen a market like this” and compares crypto investors with “a crowd of sports gamblers”.
‘[The] inevitable collapse [of crypto] Could cause the damage in ways that we cannot expect yet. ‘
Elliott also regards Crypto as potential “the dollar marginalization” that is “deeply dangerous”.
Paul Singer, the founder, president and co-CEO of the company, was originally a Trump critic, before he finally admits and Become a donor To the dual president already in 2017. Also reports overlook In 2024 by singer and colleague Hedgefonds Gigantic Ken Griffin discusses donating to Trump’s presidential campaign.
With reference to data from OpenSecrets, the Financial Times says that the Republican supporter donated around $ 56 million to conservative candidates during the 2024 election cycle.
Despite a history of support for Trump and Republicans, the company of Singer reportedly wonders why the government has encouraged alternatives to the US dollar at a time when other countries – such as the BRICS alliance – have tried to depend on their dependence on it reduce.
Shortly after he was chosen as president, Trump signed an executive order entitled ‘Strengthening American leadership in digital financial technology’, which states that the administration supports ‘responsible growth’ and the use of digital assets and blockchain technology.
The order withdraws the earlier digital activities of President Biden and creates a new working group that will coordinate and propose a uniform regulatory approach to digital assets within 180 days.
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