Euro Pacific Capital President Peter Schiff has accused US President Donald Trump of committing the biggest crypto scam and called on Congress to investigate his cryptocurrency activities.
In his opinion, Trump's statements on the Truth Social social platform can be assessed as part of a well-known pump and dump scheme. The economist believes that all posts by the politician should be carefully checked for authorship.
Peter Schiff stressed that it is necessary to find out how much money was invested by knowledgeable market participants in the cryptocurrencies listed by Trump in connection with the order to work on the creation of a strategic cryptocurrency reserve.
In addition, he demanded to know what profit investors received from subsequent sales of cryptocurrencies. Peter Schiff also suggests checking the correspondence of employees of the US President's team and those who could have participated in the formation of the positions of the head of state.
He suggested that access to this kind of information could be used by investors to illegally profit from fluctuations in the price of cryptocurrencies included in the US government reserve.
Peter Schiff's point of view was supported by Anthony Scaramucci, president of the SkyBridge Capital fund. He believes that such actions by the politician do not benefit the crypto market, but cause it significant damage.
