The U.S. president provided the first details about what a crypto reserve may look like. U.S. President Donald Trump announced that XRP, Solana, and Cardano are assets to be included in a U.S. strategic crypto reserve. He later mentioned bitcoin and Ethereum will also be added. XRP, SOL, and ADA experienced significant price surges on the news, while BTC and ETH fans expressed disappointment and surprise as they weren't added in the first announcement. U.S. President Donald Trump named XRP, Solana (SOL) and Cardano (ADA) as three assets to be included in a U.S. strategic crypto reserve on Sunday, providing the first details about what such a reserve may look like. Notably, Trump did not mention bitcoin (BTC) or Ethereum (ETH) — the two largest cryptocurrencies by market capitalization — in his initial statement, but he quickly clarified that the reserve would include these assets as well. Trump made the announcements on Truth Social, his social media platform. A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA," Trump stated. "I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!"
Following Trump's initial announcement, XRP, SOL, and ADA experienced significant price surges. While fans of XRP, ADA and SOL celebrated the news, some BTC and ETH fans responded with a mixture of disappointment and surprise.
Around an hour after his initial post, the president clarified that "BTC and ETH, as other valuable Cryptocurrencies, will be at the heart of the Reserve."
Trump has been discussing the idea of a strategic crypto reserve since his 2024 presidential campaign. Soon after taking office in January, he signed an executive order directing a working group to evaluate the formation of a strategic crypto reserve, but the order did not explicitly mandate that the U.S. establish one outright.
The order said the digital assets working group should "evaluate the potential creation and maintenance of a national digital asset stockpile." Trump on Sunday said this order meant the group should "move forward" on the reserve. The working group will host a summit on Friday with industry and government representatives.
Sen. Cynthia Lummis previously introduced a bill to create a strategic bitcoin reserve for the U.S. She first advocated for one at July's Bitcoin Nashville conference, where then-candidate Trump also spoke. The bill proposed by Lummis would have authorized the U.S. Treasury to acquire one million bitcoins over five years, equating to approximately 5% of the total Bitcoin supply.
A number of U.S. state legislatures have already introduced bills to create their own strategic crypto reserves, though most of these efforts have failed to take off.
Reserve
The U.S. president provided the first details about what a crypto reserve may look like. U.S. President Donald Trump announced that XRP, Solana, and Cardano are assets to be included in a U.S. strategic crypto reserve. He later mentioned bitcoin and Ethereum will also be added. XRP, SOL, and ADA experienced significant price surges on the news, while BTC and ETH fans expressed disappointment and surprise as they weren't added in the first announcement. U.S. President Donald Trump named XRP, Solana (SOL) and Cardano (ADA) as three assets to be included in a U.S. strategic crypto reserve on Sunday, providing the first details about what such a reserve may look like.Notably, Trump did not mention bitcoin (BTC) or Ethereum (ETH) — the two largest cryptocurrencies by market capitalization — in his initial statement, but he quickly clarified that the reserve would include these assets as well. Trump made the announcements on Truth Social, his social media platform. A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA," Trump stated. "I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!"
Following Trump's initial announcement, XRP, SOL, and ADA experienced significant price surges. While fans of XRP, ADA and SOL celebrated the news, some BTC and ETH fans responded with a mixture of disappointment and surprise.
Around an hour after his initial post, the president clarified that "BTC and ETH, as other valuable Cryptocurrencies, will be at the heart of the Reserve."
Trump has been discussing the idea of a strategic crypto reserve since his 2024 presidential campaign. Soon after taking office in January, he signed an executive order directing a working group to evaluate the formation of a strategic crypto reserve, but the order did not explicitly mandate that the U.S. establish one outright.
The order said the digital assets working group should "evaluate the potential creation and maintenance of a national digital asset stockpile." Trump on Sunday said this order meant the group should "move forward" on the reserve. The working group will host a summit on Friday with industry and government representatives.
Sen. Cynthia Lummis previously introduced a bill to create a strategic bitcoin reserve for the U.S. She first advocated for one at July's Bitcoin Nashville conference, where then-candidate Trump also spoke. The bill proposed by Lummis would have authorized the U.S. Treasury to acquire one million bitcoins over five years, equating to approximately 5% of the total Bitcoin supply.
A number of U.S. state legislatures have already introduced bills to create their own strategic crypto reserves, though most of these efforts have failed to take off.