Key Takeaways
- Trump is exploring a reserve prioritizing U.S.-based coins.
- The initiative may sideline bitcoin-focused efforts.
- Trump's broader plans include repealing SAB 121 and dismissing Gary Gensler.
President-elect Donald Trump is considering the establishment of an “America-first” strategic reserve focused on coins founded in the U.S., such as USDC, SOL, and XRP, according to a report by the New York Post.
The initiative, if implemented, could shift focus away from promoting bitcoin, a cornerstone of Trump’s campaign promises, insiders revealed.
Meeting with founders
Trump reportedly met with the founders of these digital assets recently and expressed interest in the proposal.
However, some insiders have warned that prioritizing U.S.-based coins might undermine the momentum behind bitcoin, which was central to Trump’s pledge to create a bitcoin-focused strategic stockpile.
Broader policy changes
The President-elect’s broader plans for the digital assets sector signal a significant pivot in U.S. policy.
Among his promises are repealing SAB 121, halting “Operation Choke Point 2.0,” and commuting the life sentence of Silk Road founder Ross Ulbricht.
Trump also aims to position the U.S. as a global leader in bitcoin mining, establish a Crypto Presidential Advisory Council, and dismiss SEC Chair Gary Gensler, who has since announced his departure.
Innovation focus
In a symbolic move highlighting the incoming administration’s focus on innovation, Trump has appointed investor David Sacks as the first-ever U.S. AI and Crypto Czar.
Additionally, a high-profile Crypto Ball, with sponsorship from Coinbase, Solana, and others, is planned for January 19, just before Trump’s inauguration.
