Trevor Hunnicutt
West Palm Beach, Florida (Reuters) -President Donald Trump announced the names of five digital assets on social networks, which he expects to include on Sunday in a new American strategic CRIPTO currency reserve, which is the whole market value of each.
Trump said in a post about the truth of Social that his executive order would create supplies of currency in January in January, including Bitcoin, Ether, XRP, Solana and Cardano. The names have not been announced earlier.
More than an hour later, Trump added: “And, obviously, BTC and ETH, as other valuable crypto currencies, will be at the center of the reserve.”
Bitcoin, the largest currency in the world by market value, has increased more than $ 10% to $ 92,459 on Sunday afternoon. The ether, the second largest cryptocurrency, increased by about 11% to $ 2,456.
XRP is a token Cryptocurrency Company Ripple Labs. Ripple supported the so -called Super Pac to influence the November congresses in the benefit of the crypto industry, Reuters reported.
“This move signals a shift to active participation in the Crypto economy by the US government,” said Federico Brokate, head of US business at 21shares, a digital property management company. “It has the potential to accelerate the institutional adoption, provide greater regulatory clarity and strengthen American leadership in the innovation of digital assets.”
James Butterfill, head of research at the Asset Manager Coinshares, said he was surprised to see digital property except Bitcoin involved in the reserve.
“Unlike Bitcoin … These assets are more similar to technological investments,” Butterfill said. “The announcement suggests a patriotic attitude towards a wider crypto technological space, with little regarding the fundamental qualities of this property.”
Trump received the support of the crypto industry in his election offer in 2024, and quickly switched to their policies priorities. On Friday, the first crypto of the White House summit hosted, and his family also launched his own coins.
Under their democratic predecessor, Joe Biden, regulators broke the industry in an attempt to protect Americans from fraud and money laundering.
Under Trump, the Securities and Exchange Commission has withdrawn investigations into several crypto companies and launched a lawsuit against Coinbase, the largest crypto exchange in the United States
But in recent weeks, the prices of cryptocurrencies have been abruptly reduced, with some of the largest digital currencies deleted almost all winnings after Trump’s election victories triggered a wave of excitement throughout the industry.
