President Trump nominated five on Sunday Cryptocurrency We will consider a new US “strategic reserve,” and spike its value and partially reverse the recent slump.
In the post The true societyTrump said the president’s working group on digital assets markets was the group that set up an executive order shortly after taking office, moving forward with crypto sanctuaries that include Bitcoin, Ethereum, three small cryptocurrencies, XRP, Solana and Cardano.
“We confirm that the United States is the world’s crypto capital,” Trump wrote.
venture capitalist and president White House AI and Crypto Czar David Sachs said on X Sunday that details will be revealed at the White House Crypto Summit, scheduled for Friday, March 7th.
The value of digital currency has skyrocketed following Trump’s social media post, with XRP rising about 34% at 1pm ET. Solana rose by about 22% and Cardano rose by more than 63%.
Minutes later, Trump posted again, saying that other valuable cryptocurrencies, including Bitcoin and ether, are in the “center of the reserve,” with prices of the two major digital currencies rising by more than 10% and 12% respectively.
Trump’s post helped to promote widespread gatherings among cryptocurrencies that have plummeted in recent days as Trump’s tariff threat and a new scandal affecting the sector shook investors’ confidence in highly volatile assets.
Sunday’s Post is not the first time Trump and his orbital people have gone heavy on the crypto department.
Trump and his wife Melania recently launched their own brand Meme Coincaused the accusations they were sought. Earn money From his political success. And billionaire chief executive Elon Musk, a close political ally, who has frequently promoted cryptocurrency on his own social media network, a close political alliance tasked with leading the government’s efficient drive.
The crypto industry also contributed greatly to the 2024 elections. Crypto-company CBS News previously reported, last year created a third of all direct corporate contributions to Super PACS.
