Crypto News: Crypto Chiefs Debate Trump’s Reserve Picks

As of Monday, March 3, 2025, the cryptocurrency industry is abuzz with crypto news following U.S. President Donald Trump’s announcement on Sunday, March 2, 2025, regarding a proposed U.S. crypto reserve.

Made during a press conference at the White House, Trump claimed the reserve would,

“elevate this critical industry after years of corrupt attacks by the Biden administration.”

The reserve includes Bitcoin (BTC), Ethereum (ETH), and altcoins like Ripple (XRP), Solana (SOL), and Cardano (ADA). This sparked a mix of excitement and criticism from industry leaders.

This move has already impacted the market, with altcoins rallying and Bitcoin’s dominance shifting, while the plan’s future hinges on Congressional approval.

Trump’s Crypto Reserve Announcement and Selection

Trump’s announcement, reported by The Coin Republic on Sunday, named BTC, ETH, XRP, SOL, and ADA for the reserve, aiming to bolster domestic crypto innovation.

The inclusion of altcoins, particularly XRP, SOL, and ADA, surprised many, given their U.S. ties—Ripple is based in San Francisco, Solana has a strong U.S. presence, and Cardano maintains operations through Input Output Global (IOG) in the U.S.

This selection, according to crypto news reports, has been a focal point for investors and industry leaders alike.

Following the announcement, the prices of the mentioned altcoins skyrocketed. Cardano’s ADA surged by 60% , from $0.65 to nearly over $1, based on CoinMarketCap data.

Solana’s SOL increased by 20.6%, and Ripple’s XRP gained 29.5%, per market reports. This rally led to a significant decrease in Bitcoin’s market dominance, dropping from a 4-year high of over 64% to just over 60%, according to Tradingview data.

Crypto News: Industry Leaders React

Crypto industry executives and analysts were quick to react to the crypto news, with opinions ranging from support to skepticism.

Brian Armstrong, CEO of Coinbase, expressed his opinion in an X post on March 2, 2025, stating, “Excited to learn more” about the reserve, but added, “Just Bitcoin would probably be the best option – simplest and clear story as successor to gold. If folks wanted more variety, you could do a market cap-weighted index of crypto assets to keep it unbiased.”

Raoul Pal, CEO of Real Vision, echoed this in an X post , suggesting,

“It is possible that they just use an index of US-based crypto by market cap plus BTC and ETH to be neutral and let the market decide.”

On the critical side, Bitcoin maximalist Samson Mow, in an X post on March 2, 2025, called it a “sad day for America” due to altcoin inclusion, stating , “Bitcoin might be up, but it’s a sad day for America if they actually shitcoin at a nation-state level. I can’t really say I’m surprised though, with Trump having launched a meme coin.”

Arthur Hayes, founder of BitMEX, was unimpressed, saying in an X post, “Let me know when they get congressional approval to borrow money and or revalue the gold price higher. Without that, they have no money to buy Bitcoin and shitcoins.”

Trader and analyst “DonAlt,” in an X post , opined, “The risk that Trump f**ks this up and it gets shot down is quite present,” but added that the inclusion of altcoins could see them gain 3 to 4 times if approved, or tank 25% if it fails.

Congressional Approval: The Next Hurdle

Despite the market’s positive reaction, the future of Trump’s crypto reserve plan remains uncertain as it requires Congressional approval.

This legislative hurdle, as noted by Hayes and DonAlt, means the plan is far from guaranteed, adding complexity to its implementation.