Renowned economist and market commentator Peter Schiff called for a Congressional investigation Monday into President Donald Trump’s recent cryptocurrency announcements, citing potential insider trading and manipulation.
What Happened: In an X post, Schiff wanted clarity on several questions tied to Trump’s strategic cryptocurrency reserve declaration on Sunday.
“Who authored the two Sunday afternoon posts on the President’s Truth Social account? Who knew about the first post in advance, and when were they first informed of the wording of the post and the timing of its release,” Schiff asked.
Notably, Trump announced the inclusion of XRP (CRYPTO: XRP), Cardano (CRYPTO: ADA), and Solana (CRYPTO: SOL) in the first post, sending the altcoins skyrocketing.
However, after a couple of hours, Trump said Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) would be at the “heart” of the reserve, causing a rally in the two blue-chip coins as well.
