Why did crypto fall so hard last night? Besides fears of AI regulation, there was another easily overlooked factor: Trump’s company just transferred $343 million worth of Bitcoin to an exchange 🚨
On November 5, the day after Democrats retook both chambers of Congress, Trump Media & Technology Group transferred about 4,259 BTC to a trading platform—roughly 30% of the Bitcoin it held.
The timing was just too perfect!!! After losing the election, Democrats immediately started calling for an investigation into the Trump family’s crypto business. With a new Congress, the “crypto president’s” policy shield won’t be as strong.
And look at where these coins came from: they were held in a wallet backing the company’s convertible bonds, and the company also has about $1 billion in debt to repay before the end of November.
Why transfer coins to an exchange for no reason? It can’t be just for fun, right? That was enough to ignite panic, and U.S. stocks and crypto markets both crashed in a flash...#美股走弱，加密货币市场普遍承压 #TRUMP
On November 5, the day after Democrats retook both chambers of Congress, Trump Media & Technology Group transferred about 4,259 BTC to a trading platform—roughly 30% of the Bitcoin it held.
The timing was just too perfect!!! After losing the election, Democrats immediately started calling for an investigation into the Trump family’s crypto business. With a new Congress, the “crypto president’s” policy shield won’t be as strong.
And look at where these coins came from: they were held in a wallet backing the company’s convertible bonds, and the company also has about $1 billion in debt to repay before the end of November.
Why transfer coins to an exchange for no reason? It can’t be just for fun, right? That was enough to ignite panic, and U.S. stocks and crypto markets both crashed in a flash...#美股走弱，加密货币市场普遍承压 #TRUMP
