The cryptocurrency market experienced a seismic shift this Sunday after former U.S. President Donald Trump announced via his social network, Truth Social, that the United States' Strategic Crypto Reserve would include prominent altcoins such as Ripple (XRP), Solana (SOL), and Cardano (ADA). The revelation triggered an immediate market rally, with some assets soaring over 25%.
A Bold Move Towards Crypto Institutionalization
Trump's declaration marks a significant policy shift, reinforcing his campaign pledge to establish the United States as the "global capital of cryptocurrencies." The market responded with an overwhelming wave of enthusiasm, leading to substantial price surges:
- Cardano (ADA): Up by 75%
- Solana (SOL): Gained 26%
- Bitcoin (BTC): Surpassed $94,500, recording an 11% increase
This move follows an executive order signed in January, which laid the foundation for the creation of a Strategic Crypto Reserve, a stark contrast to the previous administration's regulatory stance on digital assets.
Trump's Ongoing Crypto Engagement
Trump’s involvement in the crypto space is nothing new. Earlier this year, just before his inauguration, he launched his own cryptocurrency, $TRUMP, which initially reached a market capitalization of nearly $15 billion before stabilizing at $9 billion. His wife, Melania Trump, also entered the sector with the $MELANIA token, which witnessed an 800% price surge within hours of its release.
The inclusion of altcoins in the Strategic Crypto Reserve has surprised analysts, as many expected the focus to remain on established digital assets like Bitcoin and Ethereum. However, this diversification suggests a broader vision to support the entire cryptocurrency ecosystem.
Regulatory Landscape Shifts as SEC Withdraws Case Against Coinbase
Trump’s pro-crypto policies coincide with a significant regulatory shift within the U.S. Securities and Exchange Commission (SEC). The agency recently dropped its legal case against Coinbase, the largest U.S.-based crypto exchange, signaling a more favorable environment for the industry.
Coinbase CEO Brian Armstrong shared the news on social media, stating:
"After years of litigation, millions in taxpayer dollars wasted, and irreparable harm to the industry, we’ve reached a settlement with the SEC to dismiss the case."
Shortly after, the SEC confirmed in an official statement that a joint agreement had been filed to end the enforcement action against Coinbase and its parent company, Coinbase Global Inc.
Great news!
— Brian Armstrong (@brian_armstrong) February 21, 2025
After years of litigation, millions of your taxpayer dollars spent, and irreparable harm done to the country, we reached an agreement with SEC staff to dismiss their litigation against Coinbase. Once approved by the Commission (which we're told to expect next week)… pic.twitter.com/IlnoBs7N6n
A New Regulatory Direction
The dismissal of the case is widely seen as a direct result of the new administration’s stance on crypto. Since Trump’s return to office, the SEC has formed a Crypto Task Force led by Commissioner Hester Peirce—a known advocate for the industry, often referred to as "Crypto Mom."
SEC Chairman Mark T. Uyeda acknowledged the need for transparency in crypto policy, stating:
"For years, the Commission has relied on enforcement actions rather than public engagement. It is time to correct this approach and develop a transparent and inclusive crypto policy."
Crypto Market Prepares for White House Summit
These developments come just days before the first-ever White House Crypto Summit, scheduled for Friday, March 7. The event will bring together industry leaders to discuss regulations, stablecoins, and the role of Bitcoin in the U.S. financial system.
Despite widespread optimism, questions remain about the implementation of the Strategic Crypto Reserve. Analysts debate whether congressional approval is required or if the administration could utilize existing mechanisms, such as the U.S. Treasury's Exchange Stabilization Fund (ESF). Another proposal involves using seized cryptocurrencies from enforcement actions to build the reserve without direct government acquisitions.
Conclusion: A Crypto-Friendly Future?
With Trump doubling down on his commitment to the crypto industry, the United States may be on the verge of a digital asset revolution. While regulatory clarity is still needed, the market has already reacted positively, with prices soaring and sentiment shifting in favor of long-term crypto adoption.
As the administration navigates this new territory, investors and industry players eagerly await further policy details that could cement the U.S.'s position as the world leader in blockchain innovation.
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