Trump’s Cryptocurrency Reserve Plan Faces Industry and Legislative Pushback

President Trump's proposal for a national crypto reserve, including Bitcoin and altcoins, raises concerns about market manipulation and disrupts bipartisan regulatory efforts.

President Trump announced plans for a U.S. strategic cryptocurrency reserve that includes Bitcoin, Ethereum, and lesser-used tokens like Solana, Cardano, and Ripple’s XRP.
The proposal has drawn criticism from lawmakers and industry leaders, who argue it complicates bipartisan efforts to establish regulatory frameworks for stablecoins and crypto taxation.
Concerns include potential market manipulation, favoritism toward certain tokens, and the lack of a clear purpose for the reserve, with some likening it to government interference in private markets.
The announcement comes ahead of the White House's first Crypto Summit on Friday, where further details about the reserve are expected to be revealed to a select group of industry leaders and policymakers.
The crypto market has seen increased volatility, with Bitcoin and Ethereum experiencing recent declines, as investors react to the inclusion of controversial altcoins in the proposed reserve.