Some long-term crypto proponents are selling their holdings due to concerns that the future of the industry is now tied to the agenda of a politician and businessman, which deviates from their original intentions for crypto.
"This is part of the reason why some cipher punks and cryptogs have been selling recently. They're hyper aware that the fate of the crypto industry rests with a politician, billionaire, and businessman with his own agenda. Put simply, this isn't what they signed up for."