President Donald Trump has expressed his support for establishing a federal reserve of cryptocurrency assets, specifically mentioning XRP, Solana, and Cardano, while excluding Bitcoin and Ethereum from his statement.

In January, Trump issued an executive order that led to the formation of a working group tasked with studying and recommending crypto policies, including the potential creation of a national digital asset stockpile. The working group’s objectives included proposing criteria for establishing such a stockpile, which could be comprised of cryptocurrencies lawfully seized by the federal government through its law enforcement efforts.

This morning, in a post on his social network Truth Social, Trump stated his intention to make the reserve a reality, emphasizing his commitment to promoting the cryptocurrency industry.

According to Trump’s post, “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 ensure the U.S. becomes the Crypto Capital of the World.”

Following Trump’s announcement, the prices of XRP, SOL, and ADA have increased by 15% or more as of Sunday morning.

Trump’s executive order appears to be an attempt to reverse the crypto regulatory framework established by the Biden administration. Under Trump’s administration, the Securities and Exchange Commission seems to be adopting a more lenient stance towards the industry, as evident from its decision to dismiss its lawsuit against Coinbase and its declaration that memecoins are not securities. However, it is worth noting that the value of Trump’s own $TRUMP coin has decreased significantly since his inauguration.

Furthermore, Trump has signed an executive order calling for the creation of a U.S. sovereign wealth fund, which he suggested could be used to purchase TikTok, a move that highlights his efforts to expand the country’s influence in the digital economy.