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White House Digital Strategy Director Buys $2.3 Million in Crypto

White House Digital Strategy Director Buys $2.3 Million in Crypto

Cryptodnes2024/08/27 08:33
By:Cryptodnes

Last Friday Jerome Powell, the U.S. Federal Reserve Chairman, made cautious remarks about the current state of the economy.

Following his appearance at Jackson Hole, Bitcoin ( BTC ) and various altcoins experienced a notable price surge, leading to increased market activity.

Among the investors capitalizing on this upswing was Christian Tom, the White House’s director of digital strategy. According to Arkham Intelligence data , Tom acquired 3.843 million Arbitrum ( ARB ) tokens valued at $2.3 million from Binance.

These tokens were initially bought eight months prior, with Tom having previously invested around $8.38 million in ARB. The tokens were subsequently transferred to Binance.

READ MORE:
Major Crypto Whale Increases Holdings in Dogwifhat (WIF)

There has been speculation about whether Tom sold his ARB holdings before repurchasing them.

Arbitrum, listed on Binance in March 2023, reached a peak of $2.40 in January. Currently, ARB is trading around $0.60, a drop of approximately 75% from its January high.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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