Internet reports that hedge fund Elliott warned that the Trump administration's support for cryptocurrencies has fueled speculative fanaticism that could cause "serious damage" when prices plummet. An investor letter shows that the US$70 billion company has targeted the U.S. government's significant enthusiasm for assets with soaring prices but "no substance" and pro-cryptocurrency politicians. Elliott wrote that the fund has "never seen a market like this"... The AI boom and high stock market valuations are signs that investors are "acting like a group of sports bookmakers." Cryptocurrency is the "starting point" of the speculative boom in the entire market, not only because it has expanded in size, but also because it is "close to the White House." The "inevitable collapse" of the cryptocurrency bubble "could cause severe damage in ways we couldn't foresee." It is worth mentioning that Elliott founder Paul Singer is a long-time Republican donor, donating $56 million to conservative candidates during the 2024 election cycle. (Jin Shi)