On March 2, President Donald Trump announced that Cardano (ADA) would be included in his administration's Crypto Strategic Reserve, leading to a 58% rally in ADA's price. Trump's support for altcoins like ADA and XRP showed his disregard for the SEC's designations of these assets as unregistered securities. However, just four days later, Trump and David Sacks decided to split their promise into two funds – a BTC-only reserve and an altcoin-only stockpile. This was disappointing for the Cardano community, as ADA would only be allowed to be held and sold, not bought. As a result, ADA and other altcoins have retraced all of the gains they made following Trump's initial commitment. ADA has now fallen to eighth place in terms of market cap and has lost $15 billion in value since March 2. Despite rumors of an invitation to the White House Crypto Summit, Cardano founder Charles Hoskinson was not in attendance. The US government likely holds less than $1 million worth of ADA.



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