sm66 Trump names cryptocurrencies in strategic reserve, sending prices up

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Trump names cryptocurrencies in strategic reserve, sending prices up

Monday, March 3, 2025 | 17:56:36

- US President Donald Trump on social media announced the names of five digital assets he expects to include in a new US strategic reserve of cryptocurrencies on Sunday, spiking the market value of each.

Trump said in a post on Truth Social that his January executive order on digital assets would create a stockpile of currencies including bitcoin, ether, XRP, solana and cardano. The names had not previously been announced.

More than an hour later, Trump added: "And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be at the heart of the Reserve."

Bitcoin, the world's largest cryptocurrency by market value, and Ether, the second-largest, were up more than 25% by Monday morning. Trump is hosting the first White House Crypto Summit on Friday, and his family has also launched its own coins.

Under his Democratic predecessor, Joe Biden, regulators cracked down on the industry in a bid to protect Americans from fraud and money laundering.

Analysts and legal experts are divided on whether an act of Congress will be necessary to set up the reserve.

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