President Donald Trump has announced the formation of a U.S. crypto strategic reserve, including Ripple (XRP), Solana (SOL), and Cardano (ADA). However, the original statement did not include Bitcoin (BTC) and Ethereum (ETH), causing surprise among supporters of those assets. Trump clarified an hour later that BTC and ETH would also be included, calling them the "heart of the reserve." The decision to include multiple assets sparked mixed reactions, with some arguing that BTC alone should be the foundation of a national crypto reserve. The market reacted swiftly to the announcement, with the overall market cap surging by approximately $230 billion. BTC and ETH both posted strong recoveries, despite being initially left out of the announcement. Controversy emerged around a trader's highly leveraged position on BTC and ETH, sparking suspicions of insider trading. Additionally, Trump's recently appointed AI and crypto czar, David Sacks, had indirect financial ties to the assets included in the reserve. The inclusion of altcoins and concerns about Ripple's control of XRP have raised questions about the logic and feasibility of the reserve. Some experts see the announcement as mere talk without congressional approval and a broader financial strategy. Despite the skepticism, Binance co-founder CZ believes the reserve will evolve over time, with more assets likely to be added and other governments potentially following suit. The transparency, long-term stability, and execution of the reserve will be key factors in its success.



Other News from Today