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Trump pushes for strategic reserves of cryptocurrencies: blessing or curse for the crypto community? In-depth analysis of three major impacts and potential risks
1. Policy Shift: From "Regulatory Crackdown" to "National Strategy"
1. The "legacy" of Biden's policies versus Trump's disruption
The Biden administration has taken a high-pressure regulatory approach to cryptocurrencies due to scandals such as the FTX incident, with the SEC frequently suing projects (such as the XRP lawsuit). Trump, this time in the name of 'combating corruption', has included cryptocurrencies in the national strategic reserve, which is both a political game and a relaxation for the industry. Its core measures include:
Establish a presidential digital asset working group to assess the feasibility of reserves and develop a regulatory framework;
Clearly include XRP, SOL, ADA in reserves, and subsequently add BTC, ETH as core assets;
Commit to promoting regulatory friendliness, including weakening SEC jurisdiction, and reducing compliance costs.
2. Strategic Intent: Competing for Global Cryptocurrency Discourse Power
The United States is trying to strengthen its pricing power and control over cryptocurrencies through the 'National Reserve' plan to compete with economic entities such as China and Europe. Trump declared to 'make America the capital of cryptocurrencies,' aiming to attract global capital and projects back.
Market Response: Short-Term Frenzy and Long-Term Game
1. The price of the currency soared: policy favorable detonated speculative sentiment
XRP, SOL, ADA lead the way: rising 20%-50%, 10%-30%, 30%-60% respectively in the past 24 hours, with some exchanges experiencing short-term liquidity shortages;
BTC and ETH follow the rise: Bitcoin breaks through $87,000, and Ethereum stands at $2400, with the overall market value increasing by more than $300 billion in a single day;
"Trump concept coin" is popular: World Liberty Financial tokens associated with his family are moving in sync.
2. Capital Trends: Institutions Accelerating Layout
Hedge funds, banks, and sovereign wealth funds increase allocation to cryptocurrency ETFs;
The U.S. Treasury may intervene in the market through the Exchange Stabilization Fund, and the potential size of the purchase has sparked speculation.
Disputes and Risks: Can the policy dividend be implemented?
1. Legislative obstacles and enforcement challenges
The Republican Party has a slim advantage in the House of Representatives, and the reserve plan needs congressional approval, otherwise it can only be implemented on a small scale through administrative means (such as the Treasury Department fund);
Projects such as XRP and ADA are being questioned for 'lack of American attributes', which may weaken their seriousness in policy inclusion or reserve.
2. Suspected Interest Transmission Cloud
The Trump family is involved in cryptocurrency projects (such as 'MeMe Coin'), and the XRP and SOL teams have donated to its inaugural committee;
Analysts pointed out that this move may be to provide 'official endorsement' for associated projects, rather than a long-term strategy.
3. Market volatility risk
Cryptocurrencies have recently fallen from their highs (BTC dropped 25% from its peak), and policy benefits may be difficult to reverse macroeconomic pressures (such as the Fed's delay in interest rate cuts).
Whales manipulate the market with news, and some funds are suspected of "insider trading".
Four, Outlook for the Future: Opportunities and Challenges Coexist
1. Industry Opportunities
Clarifying the regulatory framework will lead to the explosion of compliant tracks (such as stablecoins, custody services);
The United States may promote the globalization of the "digital dollar" and compete with the SWIFT system.
2. Long-term challenge
Policy Continuity in Doubt: If the Democratic Party returns to power, cryptocurrencies may face suppression again;
Technical risk: Whether the performance of public chains such as XRP and SOL can support national-level applications remains to be verified.
Trump's 'cryptocurrency strategic reserve' injects a shot in the arm for the industry, but behind the frenzy of the currency circle, one should be wary of the uncertainty of policy implementation and market bubble. Investors should pay attention to the subsequent reports of the working group (to be released within 180 days) and diversify their allocations to cope with volatility. The 'national experiment' of US cryptocurrency policy may reshape the global financial landscape.