The Coerced Cryptocurrency Market A 169 Million Investment in US Elections without a Single Mention

CoinWired Report:
Source: CoinWired
Author: Cybermelon
Introduction: The cryptocurrency market has invested a total of $169 million in the US election, but in today’s globally watched first round of presidential debates in the US, there was not a single mention of the cryptocurrency market. After the election, Trump received $1 million worth of ETH, causing a 7% drop in related memes. Where did the money go?
Yesterday, Cybermelon published an article titled “The Narrative Before the US Election: Cryptocurrencies on Top of the Dollar,” in which he pointed out that under the current situation of easing monetary circulation in the US due to interest rate cuts, cryptocurrency market whales have been continuously selling large amounts of assets, resulting in a market shake and price decline of $13.1 billion in total assets. However, looking at the development of the cryptocurrency market in 2024, it seems that market enthusiasm is inversely related to the value of the K-line. Despite various positive factors, the market continues to fluctuate. BTC attempted to break the $70,000 mark but fell back to $60,000, causing panic in the market.


At the end of the article, Cybermelon put forward a hypothesis. Considering the possibility of interest rate cuts in the US between July and November, he suggests that reducing interest rates before the election and putting money into the hands of a few influential individuals can promote market prosperity. At the same time, the massive sell-off of cryptocurrency assets causes market panic, allowing the influential individuals and whales to enter the market at low prices. After the election, the US announces a tightening of monetary policy, reducing the circulation of market funds and increasing the price of the US dollar and cryptocurrency assets. This is when the cryptocurrency organizations that supported the presidential candidates also receive better returns.
Of course, all of this is just speculation.
The “hostage” cryptocurrency market: Invested $169 million, not a single mention
In Cybermelon’s eyes, the past development of the cryptocurrency market has been wild and chaotic, always being neglected and overlooked by mainstream financial markets, using money laundering and various gray transactions as reasons. It has only been recognized by some small countries and islands.


This situation changed in 2024, but it seems that the regulation brought about by it is not a two-way interaction with the government system, as people expected.
It is reported that cryptocurrency market giants invested $169 million, influencing the victory of more than 20 congressmen in the primaries. At the same time, the cryptocurrency industry spent millions of dollars on advertisements without mentioning cryptocurrency assets.
This blackened text is just a news flash. Some may wonder why?
In response, the giant organizations provided an answer:
“They say that millions of American voters want the government to accept and establish customized rules for digital assets.”
Is that all?
In the documents submitted to the US Securities and Exchange Commission, the publicly listed company Coinbase disclosed, “In December 2023, we, along with many other cryptocurrency and blockchain market participants, supported the establishment of the Fairshake Political Action Committee to support cryptocurrency and blockchain innovation and responsible regulation in the 2024 US presidential election.” By “supporting cryptocurrency and blockchain innovation and responsible regulation in the 2024 US presidential election,” everyone probably already has an answer in mind.
There is still one small detail here. Companies that invest in political candidates are more or less facing enforcement disputes with federal regulatory agencies. Under these conditions, the three companies recently made donations, each contributing $25 million.
Thought-provoking, interesting!
Of course, apart from supporting candidates who support the cryptocurrency market, the giants also support candidates who do not. With the push from multiple parties, both sides have memes. At the same time, it is the joint efforts of both parties (Democratic and Republican) that have led to the well-known FIT21 cryptocurrency regulation bill.
Both presidential candidates raised funds after the debate, and memes plummeted
$169 million spent, BTC spot ETF launched, ETH spot ETF launched, FIT21 bill passed, and the K-line did not rise but fell. Interesting, thought-provoking, memorable, breathtaking, and magnificent.
In Cybermelon’s mind, human nature is driven by self-interest, the underlying logic of society is value exchange, and cooperation is based on mutual benefit. So, where did the $169 million go? What are the capitalists aiming for?
If it was just speculation yesterday, today’s report has made Cybermelon somewhat certain.


Perhaps part of it is that as the world’s number one trader on the presidential stage, the US president disdains making comments on such a small market as cryptocurrencies. But the other part is that the cryptocurrency market whales do not want to expose themselves too much.
Looking at today’s BTC spot price, before the start of the first round of presidential debates at 9:00 PM Eastern Time on June 27th (9:00 AM Beijing Time today), the BTC price was already rising. It reached a peak of $62,225.31 just as the debate officially began, but then it started to decline.


Keep in mind that the “support cryptocurrency and blockchain innovation and responsible regulation” candidate you support has a 67% chance of winning.
No rise? Only a fall?
On the other hand, the related meme themes of the two debaters have plummeted. I can understand DoBen/SOL, but TRUMP/USDT also fell? Did it start falling right after the speech? Take a good look at this chart. Don’t say we should ignore the 67% chance of winning; we really can’t ignore it. This 67% determines the first seat of the world’s number one superpower.


After the debate, at 2:20 PM, Jesse Powell, co-founder of Kraken, announced on his social media platform that he personally donated $1 million to the Trump campaign, mainly in ETH. He also posted a photo of the two on Twitter (interested friends can find it themselves, I’m lazy).
A 67% chance of winning and a $1 million donation resulted in a 7.3% drop. Cybermelon wants to ask, where did the money go?
Perhaps the money is not spent now but invested in the future.
With the silence of the cryptocurrency giants and the absence of any mention in the first round of debates, Cybermelon boldly predicts that there will be no more cryptocurrency-related topics in the subsequent debates.
If they want to hide, then let them hide!
In coordination with the continuous selling pressure in the market, the real celebration of the cryptocurrency market will come after the election reaches its climax.