President Donald Trump's announcement of a U.S. crypto strategic reserve led to a $300 billion increase in the value of the crypto market. Trump's executive order directs the Presidential Working Group on Digital Assets to establish a national crypto reserve, including Bitcoin, Ethereum, XRP, Solana, and Cardano. Bitcoin and Ethereum saw significant gains, while altcoins like Cardano, Solana, and XRP experienced even greater surges. The announcement has divided the crypto community, with some concerned about government control and the weakening of the dollar. Republican senators welcome the move as a way to counterbalance China's digital yuan dominance. Traders are cautiously weighing the long-term effects of government involvement in cryptocurrency ownership. More details will be revealed at an upcoming crypto summit.



Other News from Today