Donald Trump has shaken the cryptocurrency market this weekend, revealing the plans for an American cryptocurrency reserve and appointing its key activities. XRP, Solana and Cardano were the first on the list, with Bitcoin and Ethereum added further in a social update of the truth.
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The announcement has sent prices for selected cryptocurrencies that are implemented; He also aroused renewed control over potential conflicts of interest within his administration, in particular with David Sacks.
Us Crypto Reserve: a guide announcement on the market between David Sacks’s dispute
Trump dropped a bomb on the cryptocurrency market on Sunday morning, appointing the key activities XRP, Sol and Ada in the American cryptocurrency reserve. Prices exploded: XRP increased by 28%, Sol rose by 23%and Ada increased 58%. The frenzy intensified hours later when Bitcoin and Ethereum were added, turning on a wave of bullish momentum through the market. This move aims to cement the United States domain in the world of digital resources.
“An American cryptocurrency reserve elevates this industry critical after years of corrupt attacks by the Biden Administration,” Trump wrote on Truth Social. “I will assure me that the United States is the capital of the world.”
The announcement follows the constant pro-Cripto position of the administration, including the policies of application of the biden era.
Trump’s Altcoin selections are not without controversy. Critics are questioning potential conflicts of interest that involve the Crypt Tsar David Sacks, who has profound links with the cryptocurrency industry. Sacks, at the top of the top of the White House this week, is a first investor Sol through Multicain capital and is connected to the Betwise asset management, which heavily supports all five chosen tokens.
“I sold all my cryptocurrency (including BTC, Eth and Sol) before the start of the administration,” Sacks said on X, responding to the accusations of conflicts of interest. He later clarified: “I had a position of $ 74,000 in the Etf Betwise, which I sold on January 22nd.”
The accusation that people who are already very successful in business go to the government to make more money is a lazy and stupid narrative. As I learned, the service in the government involves substantial interruptions and sales of commercial interests.
The real question is …
– David Sacks (@Davidsacks) March 4, 2025
Critics argue that, despite the direct participations, the close bonds of Sacks with the activities in question could influence political decisions. Trump himself was also focused.
The “titles” designated in the century have now been blessed
Trump’s attention on token such as XRP, only and adapted a time marked as securities not recorded by the sec-transformation the eyebrows but has not shocked the investors ready to embrace the world of post-gary gensler.
The market seems more interested in the administration of the administration towards softer regulations.
There cannot be an unlimited bull race. The market should have crashed during Covid-19, but the government and Fed did everything possible to keep the economy artificially supported.
The fruits of that decision are what we have seen in the last two years with the increase in interest rates and inflation. Now, we are on a crossroads where perhaps Trump will allow the market to enjoy a correction, if necessary, for years.
Explore: the XRP price jumps 11% after the SEC Tease XRP Etf progress cryptographic unit
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Donald Trump has shaken the cryptocurrency market this weekend, revealing the plans for a encryption reserve in the United States
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The announcement raised a renewed control over potential conflicts of interest within its administration, in particular with David Sacks.
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For now, the debate on the cryptocurrency place in the American financial future is just at the beginning.
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