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Trump’s crypto reserve conveniently mirrors David Sacks-backed fund

Trump’s crypto reserve conveniently mirrors David Sacks-backed fund
President Donald Trump announced on social media platform Truth Social that the upcoming US Crypto Reserve would include XRP, SOL, and ADA. Later, he added bitcoin (BTC) and ether (ETH) to the list. The announcement caused a surge in the prices of XRP, SOL, and ADA. The fact that Trump endorsed assets that the SEC had previously designated as unregistered securities did not seem to concern crypto investors. Lawsuits initiated by the SEC against various crypto entities have been terminated since Trump took office. Trump's appointed Crypto Czar David Sacks has financial conflicts of interest with XRP, SOL, and ADA, as he is an investor in SOL and a lead investor in Bitwise Asset Management, which holds significant allocations in the mentioned assets. There are also potential conflicts of interest for Trump himself, as recent financial disclosures reveal his significant holdings in XRP, SOL, and ADA. Trump owns staked ETH and wrapped BTC, which he endorsed in his announcement.

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