President Trump dumps Bitcoin, Ethereum for XRP, ADA, Solana

President Trump disclosed via his social media handle the creation of a digital Strategic Reserve, with no mention of Bitcoin and Ethereum.

A report by President Donald Trump on Wednesday signaled the creation of a digital Strategic Reserve, which would hold cryptocurrencies such as XRP, Cardano, and Solana, according to a post on his social media handle.

The president signed an executive order earlier this month to form a working group focused on digital assets, setting the stage for the US to play a more central role in the global crypto sphere.

The group is tasked with devising clear regulations for the industry and examining the possibility of a national digital asset stockpile, aiming to strengthen the US market in the face of foreign competitors like China.

Highlighting three well-known cryptocurrency assets as key components of the proposed reserve structure, the report includes: Cardano's ADA, Solana's SOL, and Ripple's XRP.

President Trump's interest in cryptocurrency began in January, when he set the goal of making it a national priority, focusing on creating a strategic reserve using US-based coins and suggesting a more crypto-friendly SEC chair,

Trump and his sons were also helping to launch a new cryptocurrency venture, World Liberty Financial, according to the report.

Economists, ethics experts, and some industry insiders slammed the personal meme coin, $Trump, which Trump disclosed before his inauguration.

The post reads: "As part of my administration's broader economic agenda to strengthen America's competitiveness in the 21st century, my administration is announcing the formation of a new digital Strategic Reserve.

This initiative will serve as a key pillar in bolstering the US dollar and safeguarding the American people's economic security.

We will be including some of the best-known crypto assets in this reserve, such as Cardano, Solana, and Ripple.

This initiative aligns perfectly with the executive order I signed earlier this month to mobilize federal agencies in coordinating United States policy toward digital assets.

My administration is also nominating a new chairman for the Securities and Exchange Commission, who will hit the ground running to ensure optimal regulation of the crypto industry.

Together, these efforts will foster innovation, protect consumers, and cement the United States' role as the world's leading financial center."