All You Need To Know About the ‘America-First’ Crypto Reserve

President-elect Donald Trump is looking to establish an “America-first” strategic crypto reserve.

Background

• The reserve is set to prioritize coins founded in the US, including the likes of USDC, SOL, and XRP
• A recent report pointed out  that Trump has met with the founders of these assets and is “receptive” to the idea
  

Why should you pay attention?

• This initiative could end up pouring water over efforts to promote Bitcoin
• It’s worth recalling that establishing a Bitcoin-focused strategic reserve was one of Trump’s crypto-related campaign promises
• Insiders, however, are reportedly of the opinion that the latest initiative would help foster the “crypto golden age”

Who said what?

• Matt Mena, a crypto research strategist at 21Shares, said,

"Trump’s well-documented support for pro-growth policies and his track record of favoring asset price appreciation further reinforces the bullish outlook for Bitcoin and risk assets more broadly”

Zooming out

• Trump recently appointed investor David Sacks as the US’s’ inaugural AI and Crypto Czar
• Meanwhile, a Crypto Ball is also planned ahead of Trump’s inauguration  
• Alongside, within the first few days of the new administration, the SEC will likely review crypto-related court cases and potentially freeze litigation that does not involve allegations of fraud
• In fact, some of these cases could eventually be withdrawn — The SEC is considering to put an end to crypto enforcement altogether

In other related news

• Crypto’s New Playmaker: Trump Picks Bo Hines to Spearhead Digital Asset Policy
• Will Not Attack ‘Industries of the Future’ like Crypto, AI: Trump
• Gensler: The SEC has 'Never Said' That BTC, ETH are Securities