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The United States President Donald Trump has announced plans to create a cryptocurrency reserve to support the crypto industry.
In a statement via Truth, a social media platform, on Sunday, Trump said a presidential working group has been directed to move forward on a crypto strategic reserve that includes Bitcoin, Ethereum, Solana and more cryptocurrencies.
“A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, 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,” he said.
“I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!
“And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be at the heart of the Reserve. I also love Bitcoin and Ethereum!”
The announcement comes almost two months after the US president launched a meme coin called $Trump.
Trump had made his support for the cryptocurrency industry known during his presidential campaign last year, after his campaign team announced in May that supporters can make donations in crypto, including Bitcoin, Ethereum, and Dogecoin.
Five months later, he began promoting World Liberty Financial, a crypto venture set up by his longtime business partners and others.
World Liberty began selling its token to qualified investors to raise $300 million.
[TheCable]