President Trump’s Crypto Announcement

At 10:24 AM on Sunday morning in Washington, D.C., President Donald Trump posted on Truth Social about the upcoming US Crypto Reserve, which would include XRP, SOL, and ADA.

The surprise of this announcement lingered until his 12:11 PM update, where he added bitcoin (BTC) and ether (ETH) to the list. At that point, XRP had surged by 28%, SOL had risen 23%, and ADA had skyrocketed by 58%.

Trump’s choice to endorse three assets previously labeled as unregistered securities by the SEC did not faze crypto investors, especially after Gary Gensler’s SEC dropped cases against several crypto platforms and figures since Trump’s inauguration.

Furthermore, Trump’s focus on non-bitcoin assets after debuting his promise of a sovereign stockpile at a 2024 BTC maximalist conference was expected, given he and his wife launched meme coins on Solana during his inauguration week.

Conflicts of Interest with Trump’s Crypto Czar

Another expected development is the financial conflict of interest involving Trump’s appointed Crypto Czar, David Sacks, with respect to XRP, SOL, and ADA. Sacks has significant investments in SOL through Multicoin Capital and has openly discussed offloading early investments to newcomers.

Sacks confirmed via X that he sold all his crypto assets, including BTC, ETH, and SOL, before Trump’s inaugural events. Additionally, he is a lead investor in Bitwise Asset Management, whose flagship BITW index fund is heavily invested in the five cryptocurrencies mentioned by Trump.

Potential conflicts also extend to Trump himself. Recent financial disclosures show he has substantial holdings in XRP, SOL, and ADA through various Trump entities like World Liberty Financial, which holds staked ETH and wrapped BTC—two assets recently endorsed by Trump.