According to a recent report from *The New York Post*, Donald Trump may prioritize digital assets like Solana and XRP as part of an American-first strategic reserve. The crypto industry awaits to see what policies will be enacted during his upcoming term.
Trump’s Position on Cryptocurrencies
In recent years, the cryptocurrency market has faced significant challenges, particularly under the Biden administration, which has leaned heavily on enforcement actions through agencies like the SEC. With Trump poised to return to the White House, many in the industry are hopeful for a more favorable environment for digital assets. Trump's campaign promises included creating a "crypto-friendly" environment, which resonated with industry leaders. Meetings with Ripple executives, such as Brad Garlinghouse and Stuart Alderoty, suggest he may be open to establishing a strategic reserve for digital assets such as Solana, XRP, and USD Coin.
What is the American-First Strategic Reserve?
According to *The New York Post*, the concept of an American-first strategic reserve could focus on digital currencies based in the U.S. Solana, XRP, and USD Coin are potential candidates for this reserve, while excluding Bitcoin due to its focus on local currencies. This move could support U.S. blockchain innovation, although critics argue it might undermine Bitcoin’s role as a global decentralized value.
Speculation Around Ripple’s Involvement
Speculation about an altcoin reserve gained traction after Trump dined with Ripple executives, which reportedly left Garlinghouse optimistic about Trump's cryptocurrency stance. However, multiple sources caution about these reports, suggesting the talk about Trump’s altcoin interest might be a PR effort by Ripple Labs. Analysts point out XRP's price surge is linked to Ripple’s strong connections to Trump's team rather than any official policy.
Should Trump return to the presidency, it could herald a new era for the cryptocurrency market, with expected regulatory changes, including the potential dismissal of SEC Chairman Gary Gensler and the repeal of restrictive financial regulations stifling innovation.
