Trump's Crypto Reserve Plan Faces Scrutiny Over Conflicts and Market Impacts

President Trump proposes a U.S. crypto reserve, triggering market volatility and raising concerns about conflicts of interest and taxpayer risks.

President Trump announced plans for a U.S. Strategic Crypto Reserve, including Bitcoin, Ethereum, and lesser-known tokens XRP, Solana, and Cardano.
The announcement initially boosted crypto markets by over $300 billion but gains were erased following Trump's tariff pledge on Canada and Mexico.
Critics, including economists and crypto insiders, question the reserve's feasibility, purpose, and potential conflicts of interest involving Trump's crypto czar David Sacks.
Sacks, who has ties to crypto investments, denies personal financial benefit but faces scrutiny over his firm's holdings in the named tokens.
The White House's first crypto summit on Friday is expected to provide more details, as the plan sparks debate about its potential taxpayer burden and market manipulation risks.