Why Trump Is Moving Toward XRP, Solana & Cardano Over Bitcoin & Ether CryptoQuant CEO
CryptoQuant CEO Ki Young Ju explained that the Trump administration is backing crypto assets that ultimately serve the United States national interests against others. This followed President Trumps directive to move forward with a Crypto Strategic Reserve. Since his return to the White House, President Trump has remained focused on his crypto vision, which includes clear rules and a strategic reserve. However, some industry experts flag leanings toward certain assets.
A Weapon For The United States
In a recent X post, Young Ju noted that the industry has become a weapon for the United States, as the government favors only assets that promote its interests. According to him, these assets might work against other nations except the U.S., creating a sort of dominance in the market. This will also lead to an inflow of foreign capital to the United States crypto market.
President Trump directed the Presidential Working Group to move forward with the Crypto Strategic Reserve, including XRP, SOL, and ADA. Although the initial post didnt include Bitcoin and Ethereum, both digital assets were added to the list. For Young Ju, it was a deliberate move from the President to request the value of the top two assets to the country.
Furthermore, he noted that this move does not favor Bitcoin and Ethereum because they tend to be globally neutral. A major positive for Bitcoin is the general global adoption without central control.
Now, if something benefits Trump and serves U.S. national interests, it is no longer considered illegal. Despite opening the market without proper regulations against practices like rug pulls, one thing was made clear: Follow the Trump administrations agenda and contribute to U.S. national interests. This principle was firmly established, and the issuance of Trump meme coins symbolized it, he added.
Crypto Holders Back Trumps Move
Despite the backlash over asset selections and the desire of United States interests, the majority of crypto enthusiasts welcome the idea of a Strategic Crypto Reserve. This is expected to highlight the sectors growing acceptance in major markets and usher in new capital. With prices recovering after a red wave, most holders set sights on the positives.
Since Donald Trumps inauguration, steps have been taken to direct a clear approach to crypto regulation. The formation of a crypto task force and several states pushing for Strategic Bitcoin Reserve Bills are notable efforts. These are giant steps away from the former administrations war on the market.
Text source: ZyCrypto
