Donald Trump is reportedly prioritizing pro-crypto actions and orders with his upcoming Presidency. The New York Post claims that Trump will soon sign a number of executive orders that will help the cryptocurrency sector, such as creating a reserve for Bitcoin and other crypto coins, halting the “de-banking” approach, and appointing a number of “pro-crypto” officials to important roles.
However, the market has been quick to notice that most of the cryptocurrencies included in these initiatives are US based.
The criticism surrounding the notion of prioritizing U.S.-made coins like Solana, USDC, and Ripple as at present picked heat in the market.
What Is Trump Promising For His The Crypto Audience?
With the inauguration of Donald Trump, the cryptocurrency community will likely celebrate the end of a four-year “terror” period that it had faced under President Biden.
Donald Trump’s election victory came from a huge support from the crypto community, which now expects him to enact policies that will favor the sector.
The incoming President has also made huge promises like keeping a strategic crypto reserve, enacting better policies and making America “A Crypto Hub.”
This change is reflected in the choice of Paul Atkins for SEC Chair, the appointment of crypto-friendly authorities like David Sacks as AI and crypto czar, and the pledge of day-one executive orders to end debanking.
Also Read: Ripple vs SEC: Gov Files Opening Brief in Appeal Ahead of Trump’s Inaugural Day
Is Trump Favoring US Based Coins?
While many market participants feel that Trump’s policies likely favour those who have established themselves in the US, it is also worth noting that the coins like XRP and SOL and USDC are also top market coins with high potential.
Additionally, Trump’s promises have also sparked many other crypto firms to also expand and establish base offices in the US. With the prospect of a favorable regulatory environment under Donald Trump’s future government, Telegram Messenger LLP and the well-known blockchain TON are preparing to expand in the US.
Whether or not Trump is favoring only US-based crypto coins and firms is what the future executive orders will decide. The market will likely keep a keen eye on the coming reforms to better judge the claims.
Market Reaction To The Crypto Reserve News
The coins that are likely to be included in the strategic crypto reserve saw a huge surge in price and volume soon after the news broke.
For the first time since 2018, Ripple’s native cryptocurrency, XRP, has surpassed the $3.25 barrier, marking an important milestone.
USDC saw a volume surge of 30% as compared to the same time last day. The current trading volumes stand at $9.07 billion.
Similarly, Solana tokens $SOL prices rose over 6% to hit $210.23 mark.
Also Read: IRS Tightens Crypto Compliance, 1099-DA Forms Required For 2025 Filings, Ahead Of Trump’s Oath Day