Hunter Biden, son of former US President Joe Biden, made a noteworthy statement regarding the cryptocurrency sector. Responding to a question on social media about his stance on cryptocurrencies and how he would combat Elizabeth Warren’s anti-crypto army, Biden gave a single-word answer: “Hyperliquid.”
As is known, Hyperliquid ($HYPE) is one of the decentralized cryptocurrency exchanges that have become popular recently. However, the reason why Hunter Biden, a controversial figure in the US, made this statement is unknown. Lobbying efforts by cryptocurrency sector representatives and the voting percentages of cryptocurrency supporters are of critical importance in the US. In the past, the cryptocurrency sector played a significant role in the election victory of the crypto-friendly Donald Trump administration.
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Hunter Biden’s statements couldn’t prevent $HYPE from feeling the effects of today’s sharp decline in the cryptocurrency market. $HYPE is trading at $59, down 20% from its all-time high of $75 reached four days ago.
Hunter Biden has been at the center of political controversy for years due to being the son of former US President Joe Biden. His past struggles with drug addiction, his role at the Ukrainian energy company Burisma, leaked emails from his laptop, and tax and gun cases against him have all drawn intense criticism. Republicans have alleged that he used his father’s political influence in some business dealings, with many of these claims becoming the subject of lengthy political and legal disputes in the US.
*This is not investment advice.