Trump Establishes Presidential Working Group on Digital Asset Markets
President Donald Trump signed an executive order to create the “Presidential Working Group on Digital Asset Markets.” Key points include:
- The group will develop a federal regulatory framework for digital assets, including stablecoins.
- A "strategic national digital assets stockpile" may be explored.
- David Sacks, appointed by Trump, will chair the group, which includes the Treasury Secretary.
- Senator Cynthia Lummis proposed legislation for a national bitcoin reserve, aiming to buy 1 million BTC over five years.
- The US has seized 198,109 BTC, valued at approximately $21 billion.
“The US strategic Bitcoin reserves have been basically confirmed. Cryptocurrency is once again advancing at the speed of encryption,” stated Binance CEO Changpeng Zhao.
Speculation about an “America-first” strategic reserve prioritizing US-based coins like USDC, SOL, and XRP has emerged. Bitcoin's price hit a record $109,000 this week.
TRUMP Memecoin Soars to $75 Billion
The TRUMP memecoin launched during the Crypto Ball in Washington, achieving a market cap of $15 billion shortly after its debut. Its fully diluted value surged to $75 billion, making it the fastest-growing memecoin. First Lady Melania Trump also introduced her memecoin, MELANIA.
Built on Solana, these memecoins fueled discussions about Trump's preference for Solana over Ethereum, which reached an all-time high. The Trump-backed decentralized finance platform, World Liberty Financial, invested significantly in ether and secured Ethereum Name Service domains such as worldliberty.eth and trumpcoin.eth.