Trump tells crypto team to draft new rules, explore US stockpile
“Hello bitcoiners!” He courted cryptocurrency fans during his election campaign. “If crypto is going to define the future, I want to be mined, minted and made in the USA, and it’s going to be.” Now Donald Trump is taking steps to deliver on his promise to be a “crypto president.”
World Liberty Financial, the Trump-backed cryptocurrency venture, announced that it would launch a strategic token reserve that’s intended to boost the crypto market, including Bitcoin and Ethereum cryptocurrencies.
In a new move called the “Macro Strategy” the company outlined a number of initiatives in a statement on X. The reserve will have a focus on decentralized finance (DeFi), what Investopedia defines as a peer-to-peer financial system intended to remove third parties like banks while still implementing strategic partnerships with traditional financial institutions in order “to bridge traditional finance and decentralized finance,” where financial institutions can contribute tokenized assets to the reserve.
More than 24 billion tokens have been sold so far, according to World Liberty Financial. At $0.05 per token, this amounts to a total sale of roughly $1.25 billion in value, Cryptopolitan reports.
What is a cryptocurrency ‘token reserve?’
Under President Trump’s World Liberty Financial crypto platform, plans for a crypto token reserve involve strengthening the crypto ecosystem, enforcing public blockchain visibility, and “mitigating market volatility.” If Trump’s token reserves operate like traditional oil and gas reserves, it may be a supply of crypto tokens to set aside for use in the future.
The announcement comes months after reports of a federal strategic Bitcoin reserve, as some members of government advocated for Trump’s administration to create a crypto reserve held by the U.S. to help pay down its $36 trillion national debt and strengthen the U.S. dollar, according to USA TODAY.
World Liberty Financial says that there will be a comprehensive proposal available “shortly,” but there was no definitive timeline in the statement.