Peter Schiff Demands Investigation into Trump’s Alleged Role in Crypto Market Manipulation

Peter Schiff, a renowned gold bug and Bitcoin critic, is calling for a congressional investigation into what he describes as one of the most significant cryptocurrency manipulations ever seen.

His concerns follow recent posts from former President Donald Trump’s Truth Social account, which Schiff claims were timed to artificially pump the prices of various cryptocurrencies.

According to Schiff, the posts may have been part of a larger scheme to benefit those with prior knowledge of their release. He has urged lawmakers to investigate the financial transactions linked to the incident, especially regarding crypto assets like Bitcoin (BTC), XRP, Solana (SOL), and Cardano (ADA).

Schiff is questioning whether individuals close to Trump exploited insider information to profit from the crypto surge. He has called for an examination of the timing of investments and subsequent sales by those with early access to the posts.

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In addition to this, Schiff is requesting access to communication records—such as emails and texts—from Trump’s inner circle, including his staff and family members. The aim is to uncover any potential coordination behind the posts, which Schiff believes may have had a direct influence on the market.

As Schiff pursues this investigation, he has also distanced himself from earlier statements that seemed to endorse Bitcoin as a reserve asset. He now claims that his words were misrepresented by Bitcoin advocates to manipulate market perception. Despite these accusations, the Trump administration continues to push its crypto agenda, including the formation of a new SEC task force to create clearer crypto regulations.

Alexander Stefanov