Crypto Day-Trader Faithful Find Life Under Trump Is No Paradise
(Bloomberg) — For months, crypto-loving investors sank billions into leveraged strategies with the hope that Donald Trump would eliminate regulations on their upstart industry and usher in a new world of digital prosperity.
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Now, day traders who bet on cryptocurrencies are bearing the the brunt of a sweeping Wall Street selloff — one driven by fears about Trump’s volatility-inducing policy agenda. Digital assets have been faring particularly poorly, in part due to disappointment that Trump’s industry policies are not living up to expectations.
Just look at a cohort of exchange-traded funds that seek to offer juiced-up returns on various virtual currencies or crypto-linked themes. Among the…
