Trump talks up plan for US crypto reserve

Cryptocurrency market rallies some of February losses after US president's social media post

US president Donald Trump directed a presidential working group to move forward on a US crypto strategic reserve. (AP Photo/Evan Vucci)

The cryptocurrency market roared into March with a rally, recouping some of the losses from the asset class’s worst month since 2022, after US president Donald Trump once again talked up his plan for a strategic crypto reserve.

In a Truth Social post on Sunday, Trump said his January executive order on crypto “directed the presidential working group to move forward on a crypto strategic reserve that includes XRP, SOL, and ADA.” The inclusion of XRP and ADA tokens in Mr Trump’s plan were surprising, according to Andrew Tu, head of sales at crypto market maker Efficient Frontier. Both tokens had huge rallies on Sunday, leading gains across most digital assets. Mr Trump also said Bitcoin and Ether would be included in the reserve, helping those coins recover some of last month’s steep declines.