President Donald Trump revealed his intent to move forward with plans to establish a U.S. Crypto Reserve on Sunday.
Trump says he signed an executive order creating a reserve that includes a number of cryptocurrencies. The move comes just days before the White House is set to host a crypto summit on March 7.
“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,” Trump wrote.
“I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!” he added.
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The crypto summit will be held on Friday, marking the first-ever White House event of its kind.
Trump is expected to deliver remarks during the summit, the White House said.
The event will include “prominent founders, CEOs, and investors from the crypto industry, as well as members of the president’s Working Group on Digital Assets,” according to the White House.
The summit will be led by venture capitalist and White House AI and crypto czar David Sacks and will be administered by the working group’s executive director, Bo Hines.
This comes after Trump signed an executive order in January to establish the working group, which consists of officials from various federal agencies to advise the White House on policy surrounding digital assets.
During his 2024 campaign, Trump vowed to streamline regulations, support a stablecoin framework and establish a Bitcoin stockpile, according to Bloomberg News.
