Dollar Stability to Increase – Trump
President Trump stated that the establishment of this reserve would increase the stability of the dollar. He said, “I will ensure that America becomes the world’s crypto capital. We are making America great again.” A crypto summit is scheduled at the White House on Friday. Solana’s blockchain platform hosts most memecoins, including Trump’s own TrumpCoin.
Trump Posts on Truth Social
President Trump posted on Truth Social. In his post, Trump stated that the American crypto reserve will elevate this crucial industry after years of corrupt attacks by the Biden administration.
Cryptocurrencies Surge Up to 62 Percent
ADA represents the Cardano blockchain, while XRP is associated with the payment group Ripple. The inclusion of these in Trump’s crypto reserve led to a surge of up to 62 per cent in these cryptocurrencies. Bitcoin and Ethereum also saw increases of over 10 per cent.
How Will the Crypto Reserve Work?
Details about the crypto reserve remain unclear. Some experts speculate that it could be funded through the US Treasury’s Exchange Stabilization Fund, traditionally used for managing foreign currencies. Others suggest it might include cryptocurrency seized in law enforcement actions. Legal experts are divided on whether the reserve can be established without Congressional approval.