Peter Schiff has warned of the possibility of cryptocurrency market manipulation

Recently, US President Donald Trump announced a plan to establish a strategic reserve of cryptocurrencies in the United States, including currencies such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), and Cardano (ADA). Following this announcement, the value of these cryptocurrencies has surged: XRP rose by 37%, SOL by 23%, and ADA by 68%. However, this move has faced criticism from Bitcoin supporters and financial experts. They argue that the specific choice of cryptocurrencies could lead to misunderstandings for investors and go against the decentralized spirit of blockchain technology. Furthermore, focusing on these currencies may create legal and regulatory risks for related companies, especially as the classification of many digital assets as securities is being debated. In this context, economist Peter Schiff has warned of the possibility of market manipulation related to President Trump's announcement about cryptocurrency. He calls on Congress to conduct an investigation to clarify the following issues:

1. Who wrote the posts on President Trump's Truth Social account on Sunday?
2. Those who knew in advance about the content of the first post, and when were they notified?
3. How much have those who had prior information invested in XRP, ADA, SOL, BTC, and ETH? If they have sold, when did they sell and how much profit did they make?
4. Need to collect all emails and messages of President Trump's staff, family members, sponsors, or Truth Social employees related to these posts. These questions aim to determine whether there has been any "pump and dump" behavior, in which individuals buy in before information is released and sell off when the price rises sharply due to the post. If there is evidence, this would be a serious allegation related to insider trading and market manipulation. Currently, there is no information about whether the US Congress has conducted any investigation into these allegations. However, regulatory authorities often take allegations of market manipulation and insider trading seriously to protect the integrity of the financial market.