- Unveiling of the strategy will come with a significant shift in cryptocurrency policy at the White House Crypto Summit is scheduled for the 7th of this month
- Commerce Secretary Howard Lutnick said other crypto tokens, I think, will be treated differently from Bitcoin
- During his campaigns, Trump promised crypto enthusiasts that he would introduce measures to allow the remaining bitcoins to be mined in the country
President Donald Trump will unveil a massive Bitcoin reserve strategy this week at the White House Crypto Summit, which is scheduled for the 7th of this month.
Commerce Secretary Howard Lutnick revealed this earlier in the day, noting that it will come with a significant shift in cryptocurrency policy.
“The President definitely thinks that there’s a Bitcoin strategic reserve,” Lutnick said. “Now, there will be the question of how do we handle the other cryptocurrencies. And I think the model is going to be announced on Friday when we do that.”
Lutnick added, “A Bitcoin strategic reserve is something the President’s interested in. He spoke about it all during the campaign trail, and I think you’re going to see it executed on Friday. So Bitcoin is one thing, and then the other currencies, the other crypto tokens, I think, will be treated differently—positively, but differently.”
Trump has not hidden his desire to have the US massively stockpile cryptocurrencies. During his campaigns, he promised crypto enthusiasts that he would introduce measures to allow the remaining bitcoins to be mined in the country. Trump raised campaign funds through crypto, and just before his inauguration, he launched his official meme coin, $TRUMP, and his wife launched hers, $MELANIA.
A few days ago, Trump announced via his social media platform, Truth Social, that the US crypto reserve would include Bitcoin, Ether, XRP, Solana and Cardano. “A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA. I will make sure the U.S. is the crypto capital of the world,” Trump posted.
The White House Crypto Summit, chaired by David Sacks and Bo Hines, is an important step in the administration's efforts to position the United States as a global leader in digital finance. According to White House officials, The Pavlovic Today quoted as speaking with, the summit will be a crucial platform for discussing financial innovation, regulatory clarity, and economic opportunities in the changing world of digital assets.
Binance executive names Nigerian lawmakers who demanded $150M crypto bribe
Meanwhile, TheRadar earlier reported that the name Tigran Gambaryan rings a bell not just in the crypto space but now in Nigeria and the diplomatic corridors of the United States and the West African country.
Mr Gambaryan became popular in Nigeria’s crypto, news and diplomatic circles for his ordeal in the hands of the country’s anti-graft agency, the Economic and Financial Crimes Commission (EFCC). For several months last year, Mr Gambaryan was arrested and imprisoned in the country in cases of tax evasion and money laundering that have now been quashed. TheRadar followed the events from his arrest to several court appearances, his eventual release, and the controversies that followed.
