In addition to the Bitcoin reserve fund, Trump is said to have plans to create "US-origin" token reserve funds such as SOL, XRP, USDC to support the crypto industry in the United States.
Trump considers establishing a reserve fund for "US-origin" Coins. Image: CoinTelegraph
As reported by Coin68, after being sworn in on January 20, President Donald Trump is expected to sign several executive orders to support the cryptocurrency sector, including establishing a Bitcoin reserve fund, ending the "Operation Chokepoint 2.0" campaign, and appointing several crypto-friendly officials to key positions.
Notably, the New York Post has revealed another idea that may be issued by the Trump administration, which is the establishment of a strategic reserve fund prioritizing "US-origin" tokens such as Solana (SOL), USD Coin (USDC), and Ripple (XRP).
*TRUMP 'RECEPTIVE' TO IDEA OF RESERVE WITH COINS FOUNDED IN US: NYP pic.twitter.com/DYvXdECAuQ
— db (@tier10k) January 16, 2025
This idea has sparked controversy in the crypto community, as some are concerned that this will reduce the value of Bit, the currency they want to focus on developing.
However, founders and investors believe that these differences cannot overshadow the prospects of a "golden age" for the crypto industry under Trump. Dennis Dinkelmeyer, CEO of crypto investment firm Midas, said he is considering expanding his market into the US after a 4-year absence.
This weekend, David Sacks - who Trump has nominated as Crypto and AI Policy Advisor at the White House - will host the first "Crypto Ball" event in Washington, D.C., with representatives from major companies like Coinbase, Solana, MicroStrategy, Kraken, and Galaxy Digital.
According to Anthony Pompliano, CEO of Professional Capital Management, the Trump administration is preparing to consider specific regulations, including changes to accounting laws to facilitate easier Bit transactions.
Frank Chaparro, a veteran Bit investor, commented: "This is a major turning point - the US is ready for a real crypto revolution."
Immediately after the news, "US-origin" projects like Solana (SOL) and Ripple (XRP) have rallied, continuing their previous gains on January 16.
SOL Token price movement captured at 06:50 PM on January 16, 2025 on CoinGecko.
XRP Token price movement captured at 06:50 PM on January 16, 2025 on CoinGecko.
Compiled by Coin68
