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U.S. Crypto reserve fuels market rally
President Trump has initiated plans to establish a U.S. Crypto Strategic Reserve, a move that has already bolstered digital asset prices. The proposal, which would initially include Solana, XRP, Cardano, Bitcoin and Ethereum.
The U.S. Crypto Strategic Reserve would initially include Solana, XRP, and Cardano, with Bitcoin and Ethereum as key assets.
Trump will host a cryptocurrency summit at the White House on March 7.
El Salvador has increased its Bitcoin holdings to over 6,093 BTC.
Trump moves to establish U.S. Crypto reserve, boosting market prices
President Donald Trump has directed his Presidential Working Group on Crypto to move forward with the creation of a U.S. Crypto Strategic Reserve, according to a Truth Social post on Sunday. The reserve would initially include Solana (SOL), XRP, and Cardano (ADA), with Bitcoin (BTC) and Ethereum (ETH) added as the heart of the project, he said.
“A U.S. Crypto Reserve will strengthen this vital industry after years of attacks by the Biden Administration,” Trump wrote. “I will ensure the United States becomes the Crypto Capital of the World.” The announcement sent digital asset prices higher as investors speculated on the potential impact of such a reserve.
Trump to host Crypto summit at White House on March 7
Donald Trump will host the White House’s first-ever cryptocurrency summit next Friday, underscoring his deepening ties with the industry. The event will feature remarks from Trump and include key industry figures such as founders, CEOs, and investors, alongside members of his Working Group on Digital Assets, the White House said in a statement late Friday.
El Salvador expands Bitcoin holdings, now holding over 6,093 BTC
El Salvador has continued ramping up its Bitcoin reserves, with the National Bitcoin Office confirming the country acquired 12 BTC in the past week and 44 BTC in the past month. The latest purchases bring the nation’s total holdings to 6,093.18 BTC, valued at more than $523 million at current prices. The move aligns with President Nayib Bukele’s strategy of making Bitcoin a core part of the country’s financial system.
Swiss National Bank rejects Bitcoin as reserve asset on stability concerns
The Swiss National Bank (SNB) has ruled out adding Bitcoin to its reserve assets, citing risks related to stability, liquidity, and security. SNB President Martin Schlegel dismissed the proposal, which had been pushed by Swiss Bitcoin think tank 2B4CH as part of a constitutional amendment to require Bitcoin holdings on the central bank’s balance sheet.
SEC to host Crypto roundtable in March as regulatory debate heats up
The U.S. Securities and Exchange Commission (SEC) is set to hold a five-session roundtable series aimed at clarifying its stance on cryptocurrency regulation. The first session, titled "Spring Sprint Towards Crypto Clarity," is scheduled for March 21 and will focus on defining securities within the crypto space. The initiative marks a shift from the SEC’s enforcement-heavy approach in recent years and could signal evolving regulatory frameworks for digital assets.
Fed Chair Powell to speak with jobs in focus
Jerome Powell is set to address labor market dynamics amid a week spotlighting key U.S. employment data, with crypto markets displaying heightened sensitivity. Initial jobless claims are scheduled for March 6, followed by the U.S. jobs report the next day, which will precede Powell’s remarks. Investors are bracing for potential volatility as the week concludes. Inflation remains a focal point, with markets seeking further Fed guidance after last week’s favorable Personal Consumption Expenditures (PCE) index data. All eyes are on the labor market as the next Fed interest rate decision looms in two weeks amid persistent market turbulence.
