Hedge fund Elliott Management recently sent a letter to investors warning them away from crypto. It urged clients to remember that crypto is a speculative market, suggested that the White House has caused a massive bubble to form, and predicted that a huge crash is coming.

A leaked Elliott Management letter to investors reveals the hedge fund’s managers fear Trump is stoking a unprecedented bitcoin price bubble that’s headed for “inevitable

Elliott’s criticism of the White House’s stance on crypto comes despite the fact that the firm’s founder, Paul Singer, is a longtime Republican donor who donated $56mn to conservative candidates in the 2024 election cycle, according to website OpenSecrets.

One of the most powerful hedge funds on Wall Street has reportedly criticized the Trump administration for helping drive a frenzy around cryptocurrencies that could ultimately harm investors.

Elliott Management wrote that White House policy is fueling a speculative crypto bubble that will eventually "wreak havoc."