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After a period of sharp losses in the crypto market, digital assets saw a significant rebound following an announcement by U.S. President Donald Trump. He revealed a list of five cryptocurrencies set to be included in a new U.S. strategic reserve for digital assets, leading to a notable increase in their market value.

Trump’s Crypto Initiative

In a social media post, Trump stated that his executive order from January regarding digital assets will pave the way for creating a strategic reserve, including Bitcoin. He directed the Presidential Task Force to move forward with the initiative, reaffirming his commitment to making the U.S. the "crypto capital of the world."

Five Selected Cryptocurrencies

On Sunday, Trump officially named five cryptocurrencies—Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), and Cardano (ADA)—to be part of the new reserve. Following the announcement, these assets recorded gains between 7% and 60% within hours, with the broader market also benefiting from the surge.

Trump emphasized that his administration has instructed the task force to establish the reserve, reinforcing his vision of making the U.S. a global hub for crypto innovation.

Market and Regulatory Impact

Trump gained significant support from the crypto community during his 2024 campaign. Unlike his predecessor, Joe Biden, who imposed strict regulations on the industry, Trump has actively promoted crypto-friendly policies. However, despite early optimism, the crypto market saw sharp declines in recent weeks, erasing gains made post-election and raising concerns among investors.

Upcoming White House Crypto Summit

As part of his crypto-friendly stance, Trump is set to host the first-ever White House Crypto Summit on Friday. Meanwhile, reports suggest his team is exploring the launch of a Trump-backed cryptocurrency. However, questions remain about the formation and operation of the strategic reserve, with experts debating whether congressional approval is required. Some believe the Treasury’s Exchange Stabilization Fund could be utilized for this purpose.

Crypto Market Rebound

The market reacted strongly to Trump’s announcement, with Bitcoin (BTC) surging 8.5% in the past 24 hours to trade at $93,238, raising its market capitalization to $1.84 trillion. Ethereum (ETH) followed, climbing 9.7% to $2,446, pushing its market cap to $295 billion.

The impact of Trump’s crypto strategy is yet to unfold, but for now, it has reignited optimism in the market and driven significant gains across major digital assets.