U.S. President Donald Trump revealed plans for a U.S. Crypto Reserve, naming XRP, Solana (SOL), and Cardano (ADA) as key assets. The decision, shared on his Truth Social platform, aims to strengthen the U.S. crypto industry and counter past regulatory crackdowns. Notably, Bitcoin (BTC) and Ethereum (ETH)—the two largest cryptocurrencies—were left out.
Elevating Crypto After “Corrupt Attacks”
Trump positioned his executive order on digital assets as a corrective measure against the previous administration’s regulatory actions. His statement emphasized making the U.S. the global leader in crypto, aligning with his pro-business stance.
The announcement led to significant price surges in XRP, SOL, and ADA, signaling strong market reactions.
Bitcoin Reserve Bill and Political Divide
Trump’s decision contrasts with earlier legislative efforts to create a Bitcoin reserve. Senator Cynthia Lummis had introduced a bill advocating for the U.S. Treasury to acquire one million BTC over five years. However, this proposal has yet to gain traction.
Meanwhile, several U.S. states have attempted to establish their own crypto reserves, but most initiatives have struggled to move forward.
The Road Ahead for U.S. Crypto Policy
Trump’s move signals a shift in the U.S. government’s approach to crypto, favoring alternatives to Bitcoin. As the 2024 election cycle intensifies, crypto regulation and adoption will likely remain a hot topic in U.S. policy discussions.
While Trump’s strategic reserve plan is still in its early stages, the market’s reaction and future regulatory developments will shape its impact on the broader crypto landscape.
