Trump proposal for creating ‘crypto strategic reserves’ vexes of some support in industry

President Donald Trump said on Sunday that he directs his newly created working group of digital assets to move forward to creating a “crypto strategic reserves” along the lines of existing American gold and oil reserves.

However, the proposal details have left many observers frustratedIncluding some long-lasting trumps and crypto supporters. These critics tell Trump’s Preserve Reserve contains several other crypto tokens seen as many risky funds, of which it is also have private support Who could directly benefit from any investment by US

Announcement Indicates that Trump forward forward with full hugging entire crypto industry, even as it oppose concerns His crypto interests. Trump has already bothered those lines When it started its own coin for crypto meme immediately after downloading the function In January, and some Experts now say that its last announcement shows that it is largely unjust due to potential conflicts of such a close relationship with a certain financial sector.

“Most people see it for what it is: attempt to attach the crypto, and not to benefit from all Americans whose taxes could be used to the useful initiative,” Molly said the Molly Skeptic.

If Trump asked to increase the crypto market, it seems that it worked. Prices of many main cryptocurries (which is most commonly involved in Trump’s post) He jumped abruptly after the announcement.

“I’ll make sure the US is the Curving of the World” Trump Posted on the truth Social on Sunday.

The White Home Home Spoker sent a comment request to K post From “CRIPTO CZAR” David Sacks, the man who Trump tried to lead the creation of reserves, in which he said more detail would come to the Cripto Summit set for Friday.

Trump was first being aprinted an idea of ​​reserves that includes crypturars At last year’s annual conference Bitcoin. However, at the time, the assumption was that only Bitcoin would turn it on.

The idea of ​​reserving again appeared Executive order at the beginning of his administration “However, the order formulation pointed out that the proposed reserve could stop, including more than just Bitcoin, which encourages the beginner of concern.

Although all cryptocurrencies are unstable, Bitcoin is seen as relatively safer compared to other digital means, given its huge market hat and decentralized structure.

Trump stated on Sunday that the truth is social that a strategic reserve can end up including tokens like Ripple, Solana and Cardano – without said bitcoin. It was only in the next place that Bitcoin – as well as Ethar, another token seen as generally higher utilities – would also be involved.

Some voices In the crypto world reacted negatively To the idea of ​​the proposed reserve in other kittings other than Bitcoin.

“Still forms an opinion on asset distribution, but my current thinking is the best option – the simplest and clear story of crypto-asstrong to maintain it impartial,” Brian Armstrong, “Brian Armstrong, General Manager Criptocurrencenconning Coinbase, He said on Sunday in the post in X. “But probably option # 1 is easiest.”

Jason Calacanis, a congestion of the capitalist that appears on the podcast with the bags, called the announcement “Trump Pump” In the post in X weeklater posts that she represented “Insane Grift.”

In addition to the questions about whether Americans would benefit from tokens who regularly see that large pricing swings, some increased problems with the interests of official and unofficial trumps that have the largest creditors in the world that serve as a return to their investments.

Specifically, the bag was investor in points, and the cried investment group for property. He Posted to X That he sold his direct crypts of traps, as well as his position in points.

The bags in X told early Monday: “I had a position of 74 kilograms in Bobra and ETF I sold 22. January. I have no great indirect farms. ‘I will provide an update at the end of the ethics process.” (Special administrative administration such as bags are Subject to certain requirements and disclosure rules around the conflict of interest.) The bag representative did not respond to the comment request.

The company of another unofficial trump of advisors, risky capitalist Marc andreessen, was an early investor in RippleAlthough it was not immediately clear whether he was still holding an active position in it. And a group that is thrown in the back He was one of the largest donors to Trump campaigns.

A representative for the company, andreessen chorowitz, did not immediately answer the comment request. Representative for Ripple referred a comment request Post on X Made on Sunday by General Manager of Chin Garlinghouse.

“I said this earlier – the CRIPTO industry will achieve our goals (and beyond), if the President of the Government of Digital Property Industry,” Garlinghouse said “the enemy of progress in the industry” and to “live in the world of multi-man”.

The crypto industry has written high completed as The largest source of political donations during the election election campaign 2024. Years. The industry has already received clear signals that the administration will make good at promises to give up the general policy would be an era of industry regulation through executive. In the past week, the Securities and Exchange Commission indicated that it was Discharge of probes in exchanges of the accused to promote unregulated securities.

Among the critics of Trump’s announcement was Joe Lonsdale, an Arvent trump fan and co-founder of the Defensive Group Palantir.

“The tax is stealing. It should be kept at the minimum,” wrong to steal my clothes on the left. Effective defense, courts, National Parks (should be financed), end it with these schemes. “

While Lonsdale indicated that she approved more regulatory access to LAX, the new administration was taken towards Krupto, Trump’s last announcement, makes him upset him.

“We can have better and clear regulations – and we permanently settle some things with lawsuits and settlement agreements, for example, if the industry wants to be smart – without unnecessary choice of winners and losers.”

At the beginning of Monday, the bags responded to Londale on X: “No one announced a tax or program of spending. Maybe you should wait to discover what actually suggested.”

Although several details have been published on what to be transferred to the “CRIPTO Summit” in the White House on Friday, will probably serve as another indication that the administration of the abolition of industry does not show the sign of slowing down.