Key Takeaways
- Trump has proposed a US Crypto Reserve to strengthen the digital asset sector.
- XRP, SOL, and ADA are highlighted by Trump as key assets for the proposed reserve.
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President Donald Trump said Sunday that XRP, Solana (SOL), and Cardano (ADA) would be included in the US crypto reserve. The statement comes after Trump signed an executive order to establish a working group focused on digital assets.
The group is tasked with evaluating the potential for a national digital asset stockpile and formulating clear regulations for the crypto industry. At the time of signing, the President did not specify any digital assets.
The initiative comes as a response to what Trump characterized as attacks on the crypto industry by the Biden administration. The proposed reserve would aim to strengthen the digital asset sector in the United States.
Ahead of his inauguration, Trump was reportedly open to the idea of setting up a strategic reserve featuring US-based crypto such as XRP, SOL, and USD Coin. The proposal, though raising concerns among insiders about a potential decline in Bitcoin’s market leadership, as the report indicates, has fueled widespread optimism about its potential to bolster the crypto industry as a whole.
President Trump will host the inaugural White House Crypto Summit on next Friday, aimed at discussing the future of digital assets with industry leaders, CEOs, and investors. The summit will be chaired by David Sacks, the AI & Crypto Czar, and Bo Hines, the Executive Director.
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