Crypto Crash Sparks Political Divide as Democrats Target Trump

TLDR The Democratic Party’s tweet linking Trump to the crypto crash sparked backlash from both political and financial leaders. Anthony Scaramucci criticized the Democrats’ tweet, calling it foolish and highlighting Trump’s advantage in the political arena. Bitcoin’s price dropped to $60,245, leading to a $2.6 billion market liquidation, but the cryptocurrency quickly rebounded. Ethereum and other altcoins showed recovery, with XRP surging by 22% and Solana and Dogecoin seeing gains. Despite the rebound, analysts remain cautious about Bitcoin’s long-term price stability amid market volatility. The recent crypto crash has sparked political tensions, with the Democratic Party drawing criticism for its reactions to Bitcoin’s decline. Bitcoin’s value dropped significantly to $60,000, triggering a loss of billions in investor wealth. The Democratic Party’s controversial social media post has added fuel to the fire, leading to backlash from both political and financial leaders. Democrats Criticize Trump Amid Crypto Crash The Democratic Party’s recent tweet linked President Donald Trump to the crypto crash, showing a chart of Bitcoin’s fall. The post included an image of Trump wearing a MAGA hat, which immediately caused a stir among investors and party members. Many saw the tweet as insensitive, especially as it highlighted the financial pain affecting crypto investors. Anthony Scaramucci, former White House communications director, sharply criticized the tweet, calling it “tops” in terms of foolishness. He argued that the best asset Trump has is the Democratic Party’s inability to handle the situation. The crypto market experienced heavy losses, with Bitcoin dropping by 33.1% over the past year. The tweet followed a statement from California Governor Gavin Newsom’s office, further criticizing Trump’s role in the crypto market’s downturn. Newsom’s press office suggested that Trump was crashing the market faster than he could manage a scandal. This comment heightened pa...