Along with the other common descriptors for the incumbent President, Donald Trump has been, for his opponents, something of a feudal lord giving privileges for fealty as exemplified by the great billionaire kowtow at Mar-a-Lago ahead of the inauguration.
The strange trading during the Liberation Day tariff turmoil only reinforced the criticism and politicians from the Democratic Party, led by Alexandria Ocasio-Cortez, were swift to imply trading on insider information.
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This signal is triggered upon the reporting of the trade to the Securities and Exchange Commission (SEC).
On the afternoon of April 16, Democratic Senator Chris Murphy went a step further when he stated:
“No doubt people close to Trump knew about the pause announcement and made disgusting amounts of money off insider trading.”
In the scathing X post, the gentleman from Connecticut concluded that ‘if DoJ (Department of Justice) wasn’t now just Trump’s political arm, they would be investigating.’
The first 100 days of economic controversy
Senator Murphy’s April 16 remarks are the latest in the long line of criticism levied against President Trump over his activities related to finance and the economy. While the allegations of Liberation Day insider trading are, at press time on April 17, untested, there is little doubt that the billionaire has been courting controversy since his second term started.
Furthermore, one might say that the President has been inviting scrutiny since before his inauguration, as his family issued a set of meme coins just ahead of the big January 20 event.
Though the Official Trump (TRUMP) featured a reasonable lockup period preventing the billionaire from directly profiting from the hype, other related cryptocurrencies weren’t as restrictive.
The partnership between Trump Media (NASDAQ: DJT) and Crypto.com, with the goal of issuing cryptocurrency exchange-traded funds (ETFs) and similar products, also raised some eyebrows given the President’s influence over policy.
Democrats go on Liberation Day insider trading offensive
Elsewhere, Democratic lawmakers have been on the offensive, calling for the immediate filing of all trades made during the Liberation Day turmoil, as Finbold reported on April 11.
Simultaneously, certain suspected insider traders, such as Representative Marjorie Taylor Greene, have been firing back against the allegation, stating that the investments are handled by professional managers while lauding them for a job well done.
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Lastly, there have been no official announcements or signals that an investigation is underway pertaining to a strange and exceptionally short-lived April 9 rally, mere minutes ahead of the official reciprocal tariff pause reveal.
Featured image via Shutterstock
