U.S. President Trump Unveils Plans for Crypto Reserve
Donald Trump has announced his intention to create a national cryptocurrency reserve, naming five major cryptocurrencies that would be included in the initiative.
Market Surge Follows Trump’s Endorsement
The announcement led to a sharp rise in Bitcoin, Ethereum, XRP, Solana, and Cardano prices. Investors viewed this as a strong signal of government support for digital assets.
A Reversal From the Previous Administration’s Policies
Trump’s embrace of cryptocurrency marks a stark departure from the Biden administration’s regulatory-heavy approach. Under Biden, crypto faced crackdowns over concerns about fraud and illicit activities.
Details Remain Unclear Ahead of White House Summit
The specifics of the crypto reserve remain unknown, with additional details expected to be shared at Friday’s White House Crypto Summit. Trump’s executive order has officially launched the initiative.
Trump ’s Changing View on Cryptocurrency
In 2021, Trump called Bitcoin a scam. However, recent developments, including his own crypto-related ventures, suggest that he has reconsidered the potential of digital assets.
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