Bitcoin and other cryptocurrencies suffered yet another crash over last week raising fresh concerns from the community about institutional investors dumping crypto in a coordinated effort. A small subset of the community took to Twitter and got ‘#StopTheSteal’ trending – a hastag used by Trump and his supporters to claim, without evidence, of a stolen 2020 election. ‘Matt Damon’ was also trending as the crypto community looks to put a face to the movement responsible for conning retail investors to get interested in crypto.
Bitcoin and Ethereum saw massive sell-offs causing major exchanges like Binance and Celsius to put a halt on transactions. Prices for Bitcoin and Ethereum fell as low as $21,00 and $1200 respectively. The crypto community, furious over having lost dollar values used the hashtag #StopTheSteal in order to highlight the transfer of funds from retail investors to “crypto whales” in the sell-off. Donald Trump’s campaign managed to fund-raise $250 million in a few months using #StopTheSteal whereas cryptocurrencies managed to lose over $650 billion in valuation.
Fingers are being pointed at Matt Damon, Larry David, Tom Brady and other celebrities who took part in advertising crypto in early 2022. This wave of marketing seemed like a last-ditch effort by companies to suck in retail investors one last time by hyping up the promise of high returns. Users on Twitter commented that Matt Damon and the like should be held accountable. Some were interested in filing consumer complaints for misleading investment advice but lacked the funds to initiate filings due to suffering major losses in the current crash.
Matt Damon was unable to comment on the situation as he currently is filming ‘The Martian 2’ in an undisclosed location.