Breaking: Donald Trump Open to Having XRP, Solana and USDC Strategic Reserves
Highlights
- Donald Trump plans to include US-based cryptocurrencies such as XRP, Solana, and USDC in America’s strategic reserves.
- Insiders are concerned that Trump’s focus on alternative coins could sideline Bitcoin.
- The crypto industry expects significant changes under Trump’s presidency, including the repeal of SAB 121.
Donald Trump is open to including more cryptocurrencies, such as XRP, Solana, and USDC, in his America-first strategic reserves. This move reflects a growing interest in diversifying the nation’s digital asset holdings, with Trump’s team actively discussing the idea of building a strategic Bitcoin reserve. As he prepares to take office on January 20, the crypto industry is closely watching for any signals about his plans for the sector.
The Trump transition team has already been exploring how to incorporate various cryptocurrencies into the nation’s financial strategy. The focus on adding assets like XRP, Solana, and USDC alongside Bitcoin suggests a shift towards a broader recognition of digital currencies. Industry experts are eager to see how these assets might be integrated into the strategic reserves and what that means for the future of digital finance in the U.S.
With Trump set to assume the presidency, the crypto community is anticipating major shifts under his leadership. Speculation is high about what the first round of crypto executive orders will entail and how they will reshape the regulatory landscape. These early actions could have lasting effects on the industry, potentially ushering in new policies and frameworks that will define the role of cryptocurrencies in America’s economic future.
Will the US Create Strategic Reserves for XRP, Solana, and USDC?
The latest report from the New York Post reveals that Donald Trump and his transition team are preparing to issue pro-crypto executive orders, which will include repealing the controversial crypto accounting policy known as SAB 121.
According to a source familiar with the matter, one of the most controversial proposals being discussed is the creation of an America-first strategic reserve. This plan would prioritize US-founded cryptocurrencies, such as XRP, Solana, and the USDC stablecoin, for inclusion in the nation’s strategic reserves.
In recent weeks, former President Donald Trump has met with the founders of several cryptocurrency projects, showing a receptive attitude toward their ideas. Ripple CEO Brad Garlinghouse and CLO Stuart Alderoty had a meeting with Trump at his Mar-a-Lago resort.
However, anonymous insiders have expressed concerns that Trump’s focus on these alternative coins might hinder efforts to legitimize and promote Bitcoin. Many in the crypto industry are urging Trump to prioritize Bitcoin, the world’s largest cryptocurrency, and announce the creation of a strategic Bitcoin reserve by Q1 2025.
Despite these internal disagreements, sources suggest that the industry remains focused on what they see as the potential beginning of a “crypto golden age.”
Donald Trump’s Crypto Executive Orders in the Spotlight
The crypto industry is hopeful that President-elect Donald Trump will issue crypto executive orders on his first day in office, January 20. Additionally, the industry anticipates a significant regulatory overhaul, with expectations that the new SEC leadership, likely under Paul Atkins, will play a key role in shaping the future of crypto regulation.
One of the biggest expectations is the resolution of the Ripple lawsuit, which could pave the way for a spot XRP ETF in the market. Additionally, Trump is expected to repeal the controversial SAB 121 accounting rule, enabling US banks to collaborate more closely with crypto firms. Financial analyst and early Bitcoin investor Frank Chaparro remarked:
“The entire market is relieved… we have a seismic shift in the approach and tone of the government and regulatory agencies. What this means practically is, banks will be able to touch crypto — for the last four years they’ve been told they can’t.”
This Friday, AI and Crypto Czar David Sacks will host the inaugural Crypto Ball in Washington, DC, marking the start of a weekend of celebrations leading up to Donald Trump’s January 20 inauguration.
