Donald Trump shook the crypto market this weekend, unveiling plans for US crypto sanctuaries and naming its major assets. XRP, Solana, and Cardano were on the list, but Bitcoin and Ethereum were later added in Truth Social Updates.
Have you thanked Donald Trump and JD Vance and 99 Bitcoin Fam? Have you ever said “thank you” for pumping your bag for 5 minutes before a historic dump?
The announcement has caused the price of selected cryptocurrencies to rise. It also sparked new scrutiny of potential conflicts of interest, particularly in the administration, with David Sachs.
US Crypto-Reserve: Market Operation Announcement in David's Bag
Trump dropped a bomb on the crypto market Sunday morning, naming key assets from the US crypto sanctuaries XRP, SOL and ADA. Prices exploded – XRP jumped 28%, Sol spiked 23%, ADA spiked 58%. The frenzy escalated hours later when Bitcoin and Ethereum were added, igniting a wave of bullish momentum across the market. The move aims to solidify US domination in the world of digital assets.
“The US crypto sanctuary will boost this important industry after years of corrupt attacks by the Biden administration,” Trump wrote of the true society. “I guarantee that the United States is the world's crypto capital.”
The announcement follows the administration's consistent procrypt stance, including a reversal of Biden-era enforcement policy.
Trump's altcoin choice is not without controversy. Critics have questioned the potential conflicts of interest involved Czar David Sacks, who has deep ties to the crypto industry. Sacks, who leads this week's White House Crypto Summit, is the early Sol Investor through Multicoin Capital, linking to Bitise Asset Management, which has a strong backing of all five selected tokens.
“We sold all of our cryptocurrencies (including BTC, ETH and SOL) before the start of the administration,” Sacks said in X, responding to allegations of conflict of interest. He later said, “I had a $74,000 position in the Bitwise ETF that I sold on January 22nd.”
The accusation that people who are already very successful in business go to the government to make more money is a lazy and stupid story. As I have learned, service in government involves significant disruptions in business interests and sales.
The real question is…
– David Sachs (@davidsacks) March 4, 2025
Critics argue that despite their direct holdings, close relationships with the assets in question can affect policy decisions. Trump himself was on fire.
The “securities” designated by the SEC are now blessed
Focusing on tokens such as XRP, SOL and ADA, Trump has raised eyebrows, flagged by the SEC as unregistered securities, but hasn't rattled investors ready to embrace the post-gary's Gensler world.
The market appears to be more interested in the administration's nod to softer regulations.
There can't be an unlimited bull run. The market should have crashed during Covid-19, but the government and the Fed have done everything possible to continue to support the economy artificially.
The result of that decision has been seen over the past few years as interest rates and inflation rises. Now we are at a crossroads. Perhaps Trump will allow markets to enjoy corrections if necessary for years.
Exploration: XRP Price Jumps 11% after SEC Crypto Unit XRP ETF Progress
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Key takeout
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Donald Trump shook the crypto market this weekend and announced plans for US crypto sanctuaries
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The announcement sparked new scrutiny, particularly in the administration's potential conflict of interest with David Sachs.
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For now, the debate about the location of cryptocurrency in the future of America's finances has just begun.
Is this post a secret plan from the fund of David Sack Crypto Czar, a US crypto protected area? It first appeared in 99 Bitcoin.
