The Past Week in Crypto Was Dominated by President Trump's Cryptocurrency Reserve Announcement

The past week in the crypto world was dominated by President Donald Trump's announcement of a strategic U.S. cryptocurrency reserve. The move has sparked a flurry of reactions

President Donald Trump's announcement of a strategic U.S. cryptocurrency reserve last week has been a major talking point in the crypto world. The move has sparked a flurry of reactions, with some questioning the inclusion of certain digital currencies and others calling for a Congressional investigation.

Here’s a recap of the top stories.

Schiff Questions Rationale for XRP Reserve

Renowned economist Peter Schiff expressed his confusion over the inclusion of XRP in the cryptocurrency reserve that was announced by President Trump.

While Schiff acknowledged the rationale behind Bitcoin's inclusion, he slammed the decision to include XRP, questioning its necessity.

See Also: Microsoft (NASDAQ:MSFT) May Have Given Bitcoin Investments A Miss But A Large MSFT Stock Holder Is A Strong Crypto, Blockchain Advocate

Trump’s Crypto Reserve Plan Faces Backlash

President Trump’s crypto reserve plan has not been well-received by his tech community supporters. The plan, which includes Bitcoin, Ether, XRP, Solana's SOL token, and Cardano, has led to a significant divide among his tech allies.

Trump’s crypto reserve plan was met with backlash from his usual tech community supporters. A new report by Benzinga indicates that the plan, which includes Bitcoin, Ether, XRP, Solana's SOL token, and Cardano, has sparked a strong reaction, especially on social media.

Trump's announcement has also led to allegations of potential insider trading and manipulation, with some questioning the rationale behind the selected cryptocurrency portfolio.

Schiff, Scaramucci Call for Congressional Inquiry

Peter Schiff and Anthony Scaramucci have called for a Congressional investigation into President Trump’s recent cryptocurrency announcements.

Schiff raised questions about potential insider trading and manipulation related to the strategic cryptocurrency reserve declaration.

See Also: Is Trump’s Crypto Advisor A ‘Scammer’ As Gordon Johnson Claims?

Gordon Johnson Criticizes Market Corruption

Analyst Gordon Johnson, known for his critical views on technology companies, responded to allegations that President Trump’s proposed cryptocurrency purchases aligned with the holdings of his crypto advisor, David Sacks.

Johnson, from GLJ Research, alleged that Sacks, a known supporter of President Trump, is an advisor to the president on cryptocurrency matters.

According to a report by Benzinga, Johnson expressed his belief that the entire market is corrupt and that those involved in it are engaging in criminal activity.

Polymarket CEO Invited to White House Crypto Summit

Shayne Coplan, CEO of prediction market platform Polymarket, confirmed that he will attend the White House Digital Asset Roundtable.

Coplan, who was once raided by the FBI in December for alleged regulatory violations related to gambling laws, thanked President Trump for the invitation to the upcoming summit.