Former US President and Republican presidential candidate Donald Trump speaks during an election night event at the West Palm Beach Convention Center in West Palm Beach, Florida, on November 6, 2024. Jim Watson, AFP

Agence France-Presse

<div><span class="fr-img-caption fr-fic fr-dib" style="width:950px"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/174096842940420250303 (12).jpg" style="width:950px" class="fr-fic fr-dib"/><span class="fr-inner" style="text-align:left">Former US President and Republican presidential candidate Donald Trump speaks during an election night event at the West Palm Beach Convention Center in West Palm Beach, Florida, on November 6, 2024. <em>Jim Watson, AFP </em></span></span></span></div><p>WASHINGTON -- Donald Trump on Sunday named five cryptocurrencies under consideration for a new US &quot;strategic reserve,&quot; sending their values skyrocketing and partly reversing a recent slump.</p><div><a href="https://www.abs-cbn.com/news/business/2025/2/18/trump-says-us-auto-tariffs-to-be-around-25-0646" rel="noopener noreferrer" target="_blank">Trump says US auto tariffs to be around 25 percent</a></div><p>In a post to his Truth Social network, the US president said a working group he set up shortly after taking office is moving forward with the reserve, which will include three smaller cryptocurrencies: XRP, Solana, and Cardano.</p><div><a href="https://www.abs-cbn.com/news/business/2025/2/21/trump-warns-of-150-tariff-on-brics-nation-trying-to-destroy-dollar-1121" rel="noopener noreferrer" target="_blank">Trump warns of 150 percent tariff on BRICS nations trying to &#x27;destroy dollar&#x27;</a></div><p>The value of all three digital currencies shot up on the news, with XRP trading up around 34 percent at 1:00 pm local time in Washington (1800 GMT). Solana gained around 22 percent and Cardano rose more than 63 percent.</p><p>A few minutes later, Trump posted again, noting that other valuable cryptocurrencies including bitcoin and ether would be at &quot;the heart of the Reserve,&quot; causing the price of the two major digital currencies to rise more than 10 percent and 12 percent respectively.</p><p>Trump&#x27;s posts helped spur a broad rally among cryptocurrencies, which had plummeted in recent days as Trump&#x27;s tariff threats and new scandals affecting the sector shook investor confidence in the highly volatile assets.</p><div><a href="https://www.abs-cbn.com/news/business/2025/2/27/trump-us-set-to-impose-25-tariffs-on-eu-very-soon-1936" rel="noopener noreferrer" target="_blank">Trump: US set to impose 25% tariffs on EU &#x27;very soon&quot;</a></div><p>Sunday&#x27;s posts are not the first time that Trump and those in his orbit have weighed in on the crypto sector.</p><p>Both Trump and his wife Melania recently launched their own branded meme coins, sparking accusations that they were seeking to make money from his political success.</p><p>And the billionaire chief executive Elon Musk -- a close political ally whom Trump has tasked with leading a government efficiency drive -- has frequently promoted cryptocurrencies on his own social media network, X.</p>

<p>Donald Trump on Sunday named five cryptocurrencies under consideration for a new US "strategic reserve," sending their values skyrocketing and partly reversing a recent slump.</p>

Donald Trump on Sunday named five cryptocurrencies under consideration for a new US "strategic reserve," sending their values skyrocketing and partly reversing a recent slump.

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Trump's crypto reserve post sparks rally, dash for currencies

Trump's crypto reserve post sparks rally, dash for currencies

Agence France-Presse

Published Mar 03, 2025 10:21 AM PHT

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