Peter Schiff, a staunch Bitcoin critic, has requested the US Congress to investigate what he calls the ‘biggest crypto scam’ ever. This request came after controversial posts on Donald Trump’s social media account, allegedly leading to a pump and dump scheme. Schiff demands transparency about the authors of these posts, individuals informed prior to publication, and related financial transactions. He claims the posts were timed strategically to manipulate the market for specific interests. He also urges Congress to examine trading activities related to digital currencies like XRP, ADA, SOL, BTC, and ETH. Schiff believes those who bought these cryptocurrencies using hidden information and sold them at high prices should face legal consequences. Furthermore, Schiff seeks access to emails and messages of Trump’s employees, family members, and financial supporters to investigate any hidden coordination in releasing these posts. He warns that if covert deals are proven, we will face one of the biggest financial scandals. Schiff also distances himself from previous statements supporting Bitcoin as a strategic reserve, accusing Bitcoin supporters of distorting his words. Despite Schiff’s allegations, the Trump administration continues its supportive crypto market policies. Reports indicate that Hester Peirce, SEC commissioner, recently approved a new crypto task force consisting of 15 staff members from various SEC departments, focusing on drafting transparent guidelines for the crypto industry. Visit the real-time digital currency price page to monitor token and cryptocurrency prices live.
