President Donald Trump announced the establishment of a U.S. Crypto Reserve, which he claims will elevate the digital asset industry following years of political opposition from the Biden administration. Trump made this statement on Truth Social on March 2.
"A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration," said Trump. "which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA. I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!"
Trump's announcement marks a significant policy shift towards embracing digital assets. The reserve is set to include major cryptocurrencies such as Bitcoin, Ethereum, XRP, Solana (SOL), and Cardano (ADA). According to the New York Post, this announcement led to a substantial surge in cryptocurrency values, with Bitcoin reaching nearly $93,000 and other included tokens experiencing notable gains.
According to WIRED, under Trump's administration, the U.S. Securities and Exchange Commission (SEC) has changed its approach to cryptocurrency regulation. The SEC has dismissed or paused several high-profile enforcement actions against major crypto firms, including Binance and Coinbase. This shift indicates a move toward a more crypto-friendly regulatory environment.
Donald J. Trump was born on June 14, 1946, in Queens, New York. He is a businessman and media personality who became the 45th President of the United States in 2017. He initially gained prominence through his real estate ventures and as the host of the reality TV show "The Apprentice." After losing the 2020 election, Trump made a political comeback by winning the 2024 presidential election and commenced his second term in 2025, according to Business Insider.
