Rep. Gerald E. Connolly is throwing some shade at the US Treasury's plans for a Strategic Bitcoin Reserve. He’s not having it! 🤔 In a letter to Treasury Secretary Scott Bessent, Connolly branded the whole idea as fiscally irresponsible and hinted that it might just be a fancy way for Donald Trump and his crew to cash in on crypto without any clear benefit for the public. Once a crypto skeptic, Trump seems to have pulled a 180° with his executive order to establish a federal stockpile of digital gold. Just imagine the feds stacking $BTC, $ETH, $XRP, $SOL, and $ADA like it's a game of Monopoly! 🎲 But is it really about US dominance in the digital space, or could it be a sneaky way to line Trump’s pockets? Connolly points to Trump’s private stakes in digital firms that could stand to gain from this reserve. Conflicts of interest, anyone?And let's not forget about the $TRUMP memecoin that’s been making waves. Rumor has it that Trump’s associations could amount to a pretty penny in trading fees, which raises eyebrows over the ulterior motives behind these initiatives. 😬Connolly is not thrilled that Congress seems to be left in the dark on this one. With no legislative oversight, could this just become a playground for political maneuvering? As financial experts roll their eyes and one Federal Reserve official calls the whole operation "the dumbest idea" ever, Connolly is calling for a full stop. Will the Treasury heed his warning or continue down this digital rabbit hole? Only time will tell! memecoin #crypto #solana #Ethereum #ai #bitcoin #cryptocurrency⚠️ Disclaimer: This analysis is for informational purposes only and should not be considered financial or investment advice. via /r/Blockmandev https://ift.tt/aSvibsm
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