CryptoQuant CEO Ki Young Ju Claims Crypto Market Is Becoming a ‘Weapon of the United States’

CryptoQuant CEO Ki Young Ju made some shocking remarks via his X post over USA having a hegemony over the crypto sector.

Ki Young Ju first addressed the issue of Donald Trump giving priority to US based crypto in the inclusion of US crypto reserve. Interestingly, many market participants have been criticizing Donald Trump for his bias towards US based crypto entities ever since he has taken the office.

Ki Young Ju Highlights US Control Over Crypto Market

The CryptoQuant CEO mentioned in his X post that “The crypto market is increasingly becoming a weapon of the United States. Since Trump’s election, universal moral standards have declined.”

He adds, “Now, if something benefits Trump and serves U.S. national interests, it is no longer considered illegal. Despite opening the market without proper regulations against practices like rug pulls, one thing was made clear: “Follow the Trump administration’s agenda and contribute to U.S. national interests.”

This principle was firmly established, and the issuance of Trump meme coins symbolized it.

Ki Young Ju’s frustration highlights a global worry that the US government might end up controlling the sentiments of the crypto market, negating the very principal it was built to tackle.

Also Read: BitMex’s Founder Calls Trump’s National Bitcoin Reserve Plans “Just Words,” Points Out The Need For Congressional Approval

Trump’s Bias Towards US Based Coins

Ki Young Ju also mentions, “Ultimately, “coins serving U.S. national interests” are likely to work against every country except the United States. It appears to be a strategy to dominate the crypto market and absorb foreign capital.”

“This trend is also unfavorable for Bitcoin and Ethereum, which strive for neutrality and aim to become global public goods. Judging by Trump’s recent posts, it seems that Bitcoin and Ethereum are now being signaled as “neither friend nor foe.”, he adds.

Market Participants Criticize Trump’s for Personal Bias

Donald Trump has come under fire for supposedly giving preference to American cryptocurrency companies over foreign ones. His policies and public remarks, according to critics, seem to favor domestic cryptocurrency businesses, which could impede international competition and innovation.

Although Trump has supported the expansion of the U.S. bitcoin industry, critics believe his approach is unduly protectionist and favors specific companies with connections to American interests.

Concerns that this kind of favoritism can result in unfair commercial advantages are the source of the backlash.

Furthermore, detractors contend that this strategy would alienate foreign cryptocurrency companies and restrict international cooperation, both of which are critical to the decentralized nature of blockchain and cryptocurrencies. Trump’s position has spurred discussion on how the government should control and influence the development of digital currency.

Also Read: Polymarket Odds for U.S. BTC Reserve Surge From 42% To 63% As Market Reacts To Trump’s Announcement