President Donald Trump has expressed support for establishing a federal reserve of cryptocurrency assets, specifically mentioning XRP, Solana (SOL), and Cardano (ADA)—but notably excluding Bitcoin and Ethereum.
In January, Trump issued an executive order directing the creation of a working group to study cryptocurrency policy, including the feasibility of a national digital asset reserve. The group was tasked with developing criteria for forming this reserve, potentially using cryptocurrencies seized by the government through law enforcement actions.
In a recent post on Truth Social, Trump reinforced his commitment to making this initiative a reality.
“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.”
Following his statement, the prices of XRP, Solana, and Cardano surged by over 20%.
Trump’s executive order aims to reverse the crypto regulatory framework established under President Joe Biden. His administration has signaled a more lenient approach toward crypto regulation, as seen in the SEC’s dismissal of its lawsuit against Coinbase and the declaration that meme coins are not securities.
Additionally, Trump has signed an executive order to establish a U.S. sovereign wealth fund, which he suggested could be used to acquire TikTok. Meanwhile, the value of his own $TRUMP coin has declined since his inauguration.
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