Crypto’s rollercoaster week just hit a sharp turn — and it’s not all uphill. After heading for the worst week since 2022’s FTX collapse, Trump’s US Crypto Strategic Reserve announcement sent cryptocurrencies soaring on Sunday. But as the market roared on, critics likened the move to a masterclass in corruption.

• The record-breaking $1.5B hack of crypto exchange Bybit, weak economic data, and looming trade war fears sparked a sharp pullback last week — triggering a wave of margin calls that dragged Bitcoin to three-month lows.
• However, the “Crypto President” rekindled gains on Sunday, unveiling a reserve that will hold Bitcoin, Ethereum, XRP, Solana, and Cardano — sending the latter three surging by 32%, 22%, and 60% on Sunday, respectively.

Crypto chaos: Critics cry foul over a high-conviction 50x leveraged bet with $200M in collateral just hours before Trump’s announcement, simultaneously questioning “Crypto Czar” David Sach’s motives in selecting coins he’s “heavily invested in.” The President’s unorthodox reveal also raised eyebrows — first naming ADA, XRP, and SOL ~2 hours before disclosing BTC and ETH as the “heart of the reserve.” As the crypto market rides this presidential rollercoaster, let’s hope investors are strapped in for more thrill than spill.