The encryption prices see a rise after Trump unveiled names from five coins for “Crypto Reserve” – Firstpost
The prices of three encryption currencies mentioned in the first Trump job jumped by 62 percent on Sunday. Meanwhile, Bitcoin and Ethereum also jumped with more than 10 percent for each of them
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Market prices have increased for five encrypted currencies after US President Donald Trump revealed the names of five coins that he wanted to include in the new strategic reserve. Trump said that these five currencies intend to make the United States “the capital of encryption in the world.” In a social media post on Sunday, Trump revealed that he had signed an order, “The Presidential Working Group directed to move forward in a encryption strategic reserve that includes XRP, Sol and Ada.”
About an hour later, he added in another post: “It is clear that BTC and ETH, like other cryptocurrencies, will be in the heart of the reserve.” The announcement by Potus came a day after the White House announced that it would host
The first encryption summit On March 7.
However, it is unclear how the new stock will work, and Trump has confirmed that more information is expected to come on Friday. During his presidential campaign last year, the Republican fire broke the power of the encryption community. Trump’s position is contrary to his predecessor’s approach, Joe Biden, who imposed a campaign on encryption due to concerns about fraud and money laundering.
Current currencies get a new life in the United States
The prices of three encryption currencies mentioned in the first Trump job jumped by 62 percent on Sunday. Meanwhile, Bitcoin and Ethereum also jumped with more than 10 percent each. This represents a large upward mark to the encryption pieces, which decreased sharply after the 2024 US presidential election.
In January this year, Trump signed an executive order to create a presidential working group charged with proposing new laws and codes. The command called the group to “evaluate potential creativity and maintain the stock of national digital assets” that could use “cryptocurrencies that have been legally seized by the federal government through law enforcement efforts.”
However, it is unclear whether creating a new national strategic stock will require a law of Congress. In the past, Trump was one of the largest codes of encryption, as he told Fox News in 2021 that it was a “fraud”. However, recently, all of him and his wife, Melania Trump, launched cryptocurrencies, which led to accusations that they were trying to benefit from the White House policies.
With inputs of agencies.
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