Former CFTC Head Claims Trump Administration Deliberately Sank Bitcoin In 2017

What a stunning admission—and more proof that the elites collude to destroy cryptocurrencies…

I love President Trump, I think he has done a lot of really great things, but the guy is only human—we all make our mistakes, and each of us is wrong about some things.

It’s no secret that the 45th President doesn’t like cryptocurrencies and digital assets. His role as the President was to protect the U.S., and consequently, the Dollar’s global reserve status.

We enjoy quite a bit of power, prestige, and low prices due to the USD’s status as a global reserve currency, but the downside to that is the establishment engaging in inflationary practices and controlled demolitions—robbing you and me over time…

Simply put, the state should not have the power to mint money—the effects of this have been, and continue to be, absolutely clear—every fiat currency eventually hyper-inflates and becomes worthless—this is a historic fact, not my opinion.

That being said, the Trump administration reportedly took deliberate action to sink the price of Bitcoin during the peak of its 2017 bull run.

According to former C.F.T.C. head, Christopher Giancarlo, the Trump administration, the C.F.T.C., and the S.E.C. colluded to pop the 2017 Bitcoin bubble.

This was achieved through the introduction of 17 different Bitcoin futures which could act as a shorting mechanism for the BTC market, thus depressing the price.

Let’s take a look at Giancarlo’s claims:

Trump goes, BTC 🚀🚀
Trump Administration Popped 2017 Bitcoin Bubble, Ex-CFTC Chair Says https://t.co/kwaYPOtDR3 a través de @Yahoo

— CrypTeufel (@crypTeufel) November 5, 2020

https://twitter.com/DougyFinance/status/1385778073455325192

Giancarlo’s claims were noted by Coindesk:

Bitcoin futures listed by the Chicago Mercantile Exchange (CME) and the CBOE Futures Exchange (CFE) were announced by the CFTC on Dec. 1, 2017 and went live on Dec. 18.

Bitcoin’s price peaked at nearly $20,000 one day earlier, on Dec. 17, before falling dramatically in subsequent weeks.

“We saw a bubble building and we thought the best way to address it was to allow the market to interact with it,” Giancarlo told the crowd gathered at the Ritz-Carlton on Nob Hill.

NATIONAL POLL: Do You Trust Fox News?

 

💥 BREAKING: Bitcoin futures would have the impact of popping the bitcoin bubble. And it worked."#BNBTC is the "Store of Value" Buy and HODL💎#BNBTC #BTC #ADA #CelsiusNetwork #Saylor #microstrategy #ETH #BNB #Terra #dogecoin #SOL #XRP #LUNA #1BTChttps://t.co/YlQHHhmrBD

— BLOCKCHAIN CRYPTO ALERTS (@BLOCKCHAINALETS) June 19, 2022

Probably. Remember when Giancarlo admitted 17' futures introduced to pop btc bubble?

Trump Administration Popped 2017 Bitcoin Bubble, Ex-CFTC Chair Says – CoinDeskhttps://t.co/mrsB0FWQF2

— Milo Karditis (@Covfefe1111) October 24, 2021

ProCoin News writes:

The concept of “controlled demolition” is an idea that has been gaining some traction among investors within the crypto community today.

Essentially, the idea revolves around the basis that there are key players in the market may have planned market downturns in the past and that this time is no exception.