Donald Trump gives an update on encryption targets

president Donald Trump On Sunday, he said that it aims to create a new encryption reserve in the United States, to follow up an executive order related to the encrypted currencies in January.

Newsweek He arrived at the White House to comment on Sunday.

Why do it matter

Trump’s comments about the new strategic reserve emerges the goal of his management of moving the cryptocurrency, as well as making it part of the nation’s financial planning to move forward.

Trump previously promised to be “the first chief encrypted”. He plans to host a coding summit in the White House to discuss his vision more on Friday, and to develop an organizational framework to enhance innovation and maintain financial stability. The proposed reserve can have significant effects on institutional adoption and organizational clarity in Cracks area.

What do you know

Trump wrote about the social truth on Sunday morning: “The US encryption reserve will raise this critical industry after years of corrupt attacks by the Biden administration, which is why my executive order is directed on digital assets to the presidential work group to move forward in a encrypted strategy reserve that includes XRP, Sol [Solana]And Ada [Cardano]. I will make sure that the United States is the world of encryption in the world. “

In a follow -up post, he wrote: “It is clear that BTC and ETH, like other valuable cryptocurrencies, will be at the heart of the reserve. Bitcoin And ethereum! “

Trump’s executive, signed on January 23, is attacking the presidential work group on financial markets while creating instructions for how to address digital financial technology to move forward. This working group includes representatives from the Ministry of Treasury and Federal Reserve, the Securities and Stock Exchange Committee (SEC), according to Associated Press.

This step comes as the encryption prices were Decrease In recent weeks. They initially rose before Trump’s inauguration, as Bitcoin set a record in early December, a few weeks after Trump won the presidential elections last year.

Trump and his wife, first lady Melania TrumpIt was also launched Their special coins Before inaugurated on January 20. According to the evacuation of the responsibility on the Trump Mimi website, the entities that followed Trump bears 80 percent of the encrypted currency, and will earn profits from the “trading revenues” that were created through sales.

What people say

Armando Banduja, who describes himself as a future investor and an investor, was previously written on X, on Twitter, on Sunday: “Congratulations on everything you are #xrp!

Dean Baker, chief economist at the Economic and Policy Research Center, said, Nation In January: “Crypto does not have a royal value, so why does the government want to buy it? There is no literal any justifications other than giving money to Trump, Musk and their encryption comrades. If they can benefit from the government, they have found the final lollipop. Soon, they will control the government.”

Anthony Scarmocchiand Former communications director Trump, the White House and the participating hosting The rest is politics: ours Podcast, written on X in January: “The most dangerous thing for the country about Trump is a coin is what comes after that. Now anyone in the world can maintain funds mainly in a bank account of the United States of America with a couple. Every interest – Gizi, companies or personal – is now on sale, in the open.”

What happens after that?

The presidential work group is expected to issue a preliminary report during the next three months, which shows possible organizational amendments. Congress leaders have already indicated his interest in reviewing the proposal.

More details may become clear on Friday when the president hosts the planned White House.

Update, 3/2/25 at 12:18 pm East time: This article was updated with additional information.