Technology
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Technology
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Key questions about Trump’s crypto reserve plan
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President Trump offered new details about his plan to create a strategic crypto reserve over the weekend, prompting the cryptocurrency market to rally after a few sluggish weeks.
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While Trump’s announcement stoked excitement in the industry, questions remains over what the reserve could look like and how it might impact the digital currency space
Here are some of the key questions about Trump’s plan:
🔷 What could a crypto strategic reserve look like?
Trump’s comments confirmed his support for a cryptocurrency reserve and hinted at which digital assets could be included, but he offered few details on exactly how the stockpile could work.
“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 [Solana], and ADA [Cardano],” Trump posted Sunday morning on Truth Social.
"And, obviously, BTC [Bitcoin] and ETH [Ethereum], as other valuable Cryptocurrencies, will be at the heart of the Reserve,” he said in a follow-up post. “I also love Bitcoin and Ethereum!”
His comments built upon his executive order, signed in January, which established a working group on digital assets to be led by the White House’s artificial intelligence (AI) and crypto czar, David Sacks.
The order tasked the group with evaluating the creation and maintenance of a “national digital asset stockpile.” The group was expected to draft a criteria for the stockpile, which could be derived from the cryptocurrencies seized by law enforcement, the order stated.
The U.S. government is the largest holder of Bitcoin, with an estimated total of about $14.8 billion in its possession, according to research by CoinGecko.
The use of seized cryptocurrencies, however, could run into roadblocks as these assets often go back to the victims of financial crimes, observers told The Hill.
Another possible pathway could involve the U.S. going into the market and directly purchasing more assets, like Bitcoin or the others Trump highlighted.
🔷 What’s the purpose of a crypto reserve?
The purpose of a crypto reserve, like other national stockpiles, has been framed to preserve the wealth of countries and to serve as a hedge against economic uncertainty, explained JP Richardson, the CEO of Bitcoin and crypto wallet Exodus.
Proponents of a reserve believe it will reinforce the growing value of digital currencies as the industry seeks to solidify crypto as long-term assets. In doing so, supporters believe it could eventually reduce the national debt.
By assuming crypto assets will continue growing in value and eventually help pay down national debt, supporters of the reserve argue taxpayers could benefit from the creation as well.
The Hill breaks down these questions and more in a full report tomorrow morning.
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Welcome to The Hill’s Technology newsletter, we're Julia Shapero and Miranda Nazzaro — tracking the latest moves from Capitol Hill to Silicon Valley.
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How policy will be impacting the tech sector now and in the future:
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The Los Angeles Times has launched a feature driven by artificial intelligence (AI) that will appear with some opinion content to help readers identify potential bias, owner and Executive Chair Patrick Soon-Shiong announced Monday. “The purpose of Insights is to offer readers an instantly accessible way to see a wide range of different AI-enabled perspectives alongside the positions presented in the article,” Soon-Shiong wrote …
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Defense Secretary Pete Hegseth has halted offensive cyber operations against Russia, according to media reports. The Pentagon chief ordered U.S. Cyber Command to pause offensive operations last week, CNN and NBC reported. The move comes amid what appears to be a broader shift in U.S.-Russia relations under the Trump administration. A senior defense official declined to comment on “cyber intelligence, plans, …
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Taiwan Semiconductor Manufacturing Company (TSMC) plans to invest $100 billion to build chip manufacturing plants in the U.S., President Trump announced Monday. The multibillion-dollar investment, first reported by The Wall Street Journal, will stretch out over the next four years. “This will create hundreds of billions of dollars in economic activity and boost America’s dominance and artificial intelligence and …
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SEC turns a new leaf on crypto enforcement
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© Andrew Harnik, Associated Press
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Welcome to Crypto Corner, a new feature in The Hill's Technology newsletter focused on digital currency and its outlook in Washington.
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The Securities and Exchange Commission (SEC) has dropped yet another high-profile enforcement action against a crypto company.
Kraken announced Monday that the agency had agreed to dismiss its lawsuit against the crypto exchange.
"The SEC’s decision to dismiss its lawsuit against us (and many others) is more than just a legal victory — it’s a turning point for the future of crypto in the U.S," the company said in a press release.
"It ends a wasteful, politically motivated campaign, lifts uncertainty that stifled innovation and investment, and clears the path toward a stable, forward-thinking regulatory regime," it continued.
The SEC has ended several lawsuits and investigations into crypto companies in recent weeks, sending a strong signal that its approach to enforcement is changing under the Trump adminstration.
The agency has closed investigations into the crypto arm of Robinhood and decentralized finance firm UniSwap Labs, while dismissing lawsuits against blockchain software group Consensys and crypto exchange Coinbase.
The turning of the tide comes after a major push from the industry to bring crypto-friedly leaders to Washington, following the Biden administration's hard-line stance.
PLUS: Crypto-friendly lawmakers in the House are launching the Congressional Crypto Caucus, helmed by House Majority Whip Tom Emmer (R-Minn.) and Rep. Ritche Torres (D-N.Y.).
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News we've flagged from the intersection of tech and other topics:
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Artifical intelligence startup Anthropic raised $3.5 billion at a $61.5 billion valuation in its latest funding round (TechCrunch)
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Reddit co-founder Alexis Ohanian has joined billionaire Frank McCourt's bid to buy TikTok (Reuters)
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Branch out with other reads on The Hill:
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Bitcoin jumps after Trump strategic reserve announcement
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The cryptocurrency market surged over the weekend after President Trump announced his plans to create a strategic crypto reserve and hinted at details about the highly anticipated plan. Bitcoin surged from nearly $85,000 to $94,000 on Sunday in the hours following Trump’s announcement on Truth Social. As of Monday, Bitcoin was trading at more than $91,400, marking a drastic increase from its three-month low of nearly …
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Americans in a new survey are split over their views of Elon Musk and his Department of Government Efficiency (DOGE), as well as federal workforce cuts during the opening weeks of the second Trump administration. In the CBS News/YouGov poll, 27 percent of respondents said they believe “Elon Musk and the DOGE task force” must wield “a lot” of influence “over the spending and operations of U.S. government agencies.” Another 27 …
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Two key stories on The Hill right now:
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President Trump said Monday that the 25 percent tariffs on Canada and Mexico will officially go into effect Tuesday, announcing there is no room for … Read more
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Martin O’Malley, the former commissioner of the Social Security Administration (SSA), said Monday the recent cuts made by tech billionaire Elon Musk’s … Read more
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Opinions related to tech submitted to The Hill:
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You're all caught up. See you tomorrow!
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Save story
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Cryptocurrencies rallied on Sunday after President Donald Trump announced the creation of a U.S. strategic crypto reserve.
CNBC - 1d
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President’s comments on digital assets such as bitcoin, XRP and solana lift market after recent shake-out
Financial Times - 1d
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President Donald Trump said Sunday that he is directing his newly created digital assets working group to move forward on creating a “crypto strategic reserve” along the lines of existing U.S. ...
NBC News - 6h
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Cryptocurrency prices surged Sunday after President Donald Trump announced certain digital assets that would be included in his proposed U.S. strategic crypto reserve.
MarketWatch - 1d
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President Trump should create a bitcoin-only strategic reserve or none at all.
Inc. - 13h
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A spike in cryptocurrency prices Monday morning after President Donald Trump's surprise Sunday announcement quickly fizzled by Monday afternoon.
CBS News - 5h
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The cryptocurrency market surged over the weekend after President Trump announced his plans to create a strategic crypto reserve and hinted at details about the highly anticipated plan. Bitcoin ...
The Hill - 12h
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President Trump announced Sunday that the U.S. would be creating a crypto reserve to boost the growing industry. “A U.S. Crypto Reserve will elevate this critical industry after years of corrupt ...
The Hill - 1d
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The president said he ordered a working group to move forward with the crypto reserve, which will include Bitcoin, Ethereum, XRP, Solana and Cardano.
CBS News - 1d
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Digital assets like Bitcoin rallied on the president’s backing for a strategic holding, but even some conservatives and industry backers disapproved.
The New York Times - 15h
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Trump named five cryptocurrencies he wanted in a potential national reserve so the US could become "the Crypto Capital of the World".
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Cryptocurrencies rallied over the weekend after President Donald Trump teased new details about the highly anticipated strategic bitcoin reserve.
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