PANews reported on January 23 that David Einhorn, founder of Greenlight Capital, expressed doubts about the hype in the crypto market in his latest letter to investors, saying that digital assets are approaching dangerous levels of speculation. He pointed out that the market has entered the "fart coin" stage and criticized the speculative rise of Meme coins. This year, "fart coins" have risen by nearly 60%, but Einhorn believes that they are of limited use and are only supported by trading and speculation.

In addition, Einhorn warned against the hype of the recently launched Trump coin and other meme coins, believing that the market may become even crazier in the future. He also questioned the feasibility of the US government buying Bitcoin as a strategic reserve, calling it a "dubious" use of taxpayer funds.

Greenlight Capital has established a short position in MicroStrategy-related leveraged ETFs, and Einhorn believes that these products are doomed to fail due to high volatility and unsustainable costs. He also criticized the market's bullish forecasts and speculative behavior on Bitcoin, and in line with other Wall Street heavyweights, questioned the actual value of cryptocurrencies.