U.S. Senator Adam Schiff (D-Calif.) has officially opened an investigation into allegations of insider trading surrounding President Donald Trump's abrupt pause on reciprocal tariffs last week. The announcement, made on April 10, 2025, triggered a massive rally in both traditional and crypto markets, with Bitcoin surging past $82,000 and major stock indices jumping.
Schiff Demands Answers from the White House
In a statement posted on social media, Schiff declared he would send a letter to the White House seeking to determine whether individuals with advance knowledge of the tariff pause profited illegally. He wrote: In any administration this corrupt, it is more than necessary to ask: Were people profiting from insider information while people’s savings, their retirement accounts, were being torched?
Schiff admitted he did not expect a straightforward response from the administration and instead called on whistleblowers to come forward with evidence of insider trading or other corrupt acts.
The senator's move follows widespread social media speculation that certain political insiders may have purchased stocks or cryptocurrencies just before the tariff pause was publicly announced. The 90-day pause reversed an earlier escalation in Trump's trade war, dramatically shifting market sentiment.
Bipartisan Concern Over Market Integrity
Senator Chris Murphy (D-Conn.) also voiced alarm, highlighting the chaotic nature
of Trump's tariff policy. With Trump's position changing every single hour, that gives ample opportunity for any individual who has early access to information about the White House’s change in position to make boatloads of money,
Murphy said. He urged a thorough investigation to restore confidence in the markets.
Representative Alexandria Ocasio-Cortez (D-N.Y.) called for full disclosure of all congressional stock trades made in the 48 hours surrounding the tariff announcement. It’s time to ban insider trading in Congress,
she stressed, echoing a long-standing reform push.
Greene’s Trades Under Scrutiny
Adding fuel to the controversy, Representative Marjorie Taylor Greene (R-Ga.) reportedly disclosed that she had purchased hundreds of thousands of dollars in stocks heavily affected by tariff policies in the days leading up to the pause. While such disclosures are standard practice, the timing has raised eyebrows. It remains unclear whether Greene had any non-public information about the impending policy shift.
The unfolding probe underscores the intersection of politics, market volatility, and crypto. Bitcoin’s rally above $82,000 was partly fueled by the tariff pause, which eased fears of a global recession. However, if investigations reveal systematic insider trading, it could undermine trust in both traditional and digital asset markets.
As of now, the White House has not commented on Schiff’s letter. The crypto community is watching closely, with many calling for greater regulatory clarity to prevent politically connected insiders from exploiting market-moving news.