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WHITE HOUSE CRYPTO CZAR CONFIRMS US TO ESTABLISH RESERVE WITH BITCOIN AND OTHER TOP CRYPTOCURRENCIES
White House Crypto Czar David Sacks has endorsed President Donald Trump’s U.S. Crypto Strategic Reserve, highlighting its inclusion of bitcoin and other top cryptocurrencies to position the U.S. as a global leader.
Trump’s US Crypto Strategic Reserve Sparks Industry Buzz
David Sacks, the White House AI and crypto czar, has expressed support for President Donald Trump’s announcement of a U.S. crypto strategic reserve. In a post on social media platform X, Sacks stated:
“President Trump has announced a Crypto Strategic Reserve consisting of bitcoin and other top cryptocurrencies. This is consistent with his week-one E.O. 14178. President Trump is keeping his promise to make the U.S. the ‘Crypto Capital of the World.’ More to come at the Summit.”
On March 2, President Trump outlined the composition and goals of a proposed U.S. crypto reserve on Truth Social. He claimed the initiative would revitalize the cryptocurrency sector, which he said was harmed under the Biden administration.
Trump stated that his executive order on digital assets directed the Presidential Working Group to develop a Crypto Strategic Reserve, including XRP, SOL, and ADA, aiming to position the U.S. as a global leader in crypto.
In a follow-up post, he confirmed that BTC and ETH would be central to the reserve, expressing support for bitcoin and ethereum. His statements indicate a push to integrate major cryptocurrencies into national financial policy.
Historically, President Trump’s stance on cryptocurrencies has evolved. Initially skeptical, he has recently adopted a more supportive position, aligning with his promise to establish the U.S. as a hub for cryptocurrency innovation. The issuance of Executive Order 14178 reflects this commitment, directing federal agencies to develop frameworks that support digital asset integration and regulation.
Sacks also announced on Feb. 28 plans for a significant industry event, stating on X: “President Trump will host the first White House Crypto Summit on Friday, March 7. Attendees will include prominent founders, CEOs, and investors from the crypto industry. Look forward to seeing everyone there!”
The summit is expected to facilitate dialogue between the administration and key stakeholders, further solidifying the U.S.’s leadership role in the global cryptocurrency landscape.
@ Newshounds News™
Source: Bitcoin News
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INSIDE THE WHITE HOUSE CRYPTO SUMMIT: TRUMP TO LEAD TALKS WITH 25 KEY GUESTS
This Friday, March 7th, marks the first-ever White House Crypto Summit, a key event that aims to shape the future of cryptocurrency policy in the U.S. According to Fox Business, the summit is part of a series designed to replace the previously proposed Crypto Advisory Council, giving the President’s Working Group on Digital Assets a chance to collaborate directly with the crypto industry on key issues.
“The White House announced today that President Trump will host and deliver remarks at the first ever White House Crypto Summit on Friday, March 7. Attendees will include prominent founders, CEOs, and investors from the crypto industry, as well as members of the President’s Working Group on Digital Assets,” the press release stated.
Around 25 invitees are expected to attend the summit, though the guest list is still under wraps. It’s anticipated that more details on who will be present will be released soon.
Some important figures, like David Sacks (the White House’s crypto czar) and Bo Hines, are expected to be involved, which signals a positive direction for crypto legislation and future policy clarity.
The shift from a formal advisory council to these summits suggests a more flexible approach to policymaking, allowing for direct engagement with industry leaders. This is seen as a step in the right direction for crypto, offering a clearer path forward and showcasing the government’s growing support for the industry.
The White House crypto summit is expected to spark important discussions that could influence future legislation and solidify the role of crypto in the U.S. economy. As crypto continues to gain mainstream acceptance, this summit is a strong signal that the government is committed to ensuring its place in the financial landscape.
@ Newshounds News™
Source: Coinpedia
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DE-DOLLARIZATION: GLOBAL BANK PREDICTS FUTURE OF THE US DOLLAR
Despite de-dollarization, the US dollar rebounded in price as the DXY index, which measures its performance climbed above the 107 mark. The DXY index is now trading at the 107.40 level after surging 0.15% on Friday. The US treasury yields rose this month making the greenback strengthen in the charts. The move pushed gold prices below the $2,900 range making the XAU/USD index trade at $2,860 on Friday’s opening bell.
Leading investment bank Goldman Sachs predicted the future of the US dollar as de-dollarization looms. The global bank weighed the pros and cons of the currency markets and wrote in the latest note to stakeholders that the greenback will make a comeback.
Goldman Sachs Predicts the Future of the US Dollar Amid De-Dollarization
Global investment bank Goldman Sachs wrote in a note that the US dollar could get a boost despite de-dollarization as Trump’s tariffs could uplift the greenback. Goldman Sachs strategists Karen Reichgott Fishman and Lexi Kanter wrote that the US dollar looks attractive due to the tariffs.
Trump has vowed to protect the US dollar amid the onslaught of the de-dollarization agenda kick-started by developing nations. “Ultimately, not all tariffs are equal when it comes to FX,” the strategists wrote in a note. “But given the unwind of premium in key crosses in recent weeks, we once again think tariff risks look underpriced, making long dollar exposure now look even more attractive.”
Therefore, currency investors can take long positions in the US dollar now as its prospects look “more attractive”. Local currencies are under pressure due to tariffs and the USD is coming out on top. The Indian rupee has fallen to a lifetime low while the Chinese yuan and the Japanese yen have dipped to yearly lows. The development indicates that tariffs are working against de-dollarization and placing the US dollar on top.
@ Newshounds News™
Source: Watcher Guru
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